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Perth Mint looking for new fools!

AUnut

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Saw this in an email from Escape Artist:

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What Part of This Coin is Yours?​

By Rich Checkan
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That’s a 1-ton, 24-Karat, pure gold coin… courtesy of our friends at The Perth Mint.
Part of it may very well be yours!
Let me explain…
Long-time clients and readers know we have enjoyed a wonderful relationship with The Perth Mint for roughly 30 years now. We have sold their high-quality bullion gold, silver, platinum, and palladium bars and coins for decades.
But we are most widely known for the work we did in helping them develop the cutting-edge Perth Mint Certificate Program (PMCP) a quarter of a century ago.
That program, along with the recently launched Perth Mint Depository Distributor Online (PMDDO) program, have made owning gold, silver, and platinum extremely safe and affordable for many investors.
No doubt, investors love the benefits…
  • Government guaranteed
  • Ultra-low premiums to buy and sell
  • 100% backed precious metals under Perth Mint’s control
  • 100% insurance at full market value at all times
  • NO derivatives exposure
  • NO leasing to third parties
  • AND, for unallocated holdings… NO ongoing storage fees!
The products are amazing, but…
Too Good to Be True?
Many times over the years, we have seen critics (or more often competitors) of Perth Mint and their products surface. They remind me of the cicadas we are about to experience here in Maryland.
Every 5-10 years, somebody starts ranting about how Perth Mint could not offer FREE ongoing storage unless they did not have the precious metals in storage.
The difference between the cicadas and these critics are the cicadas are most likely smarter.
Seriously, if any of the critics actually took the time to do some due diligence or to contact ASI or the Perth Mint directly, they would understand why Perth Mint can offer this fantastic benefit.
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How Mints Operate
All mints have a similar problem.
They want to have fabricated bars and coins minted and ready for would-be buyers. This way, when a distributor buys 10,000 1-ounce gold Kangaroos, for instance, the coins can be shipped immediately as opposed to starting to make 10,000 coins.
To do so, they need gold ahead of time.
The answer for most mints is to lease – or rent – the gold from bullion banks. It is not their gold. It must be returned at some point. But, in the meantime, they pay a leasing cost to make the gold into bars and coins and have them sit in their storage facility waiting for a buyer.
Once purchased, the mint buys more gold off market to replenish what was sold, and they start making the coins again for future buyers.
Oh, by the way, those leasing costs can be quite high.
Too Good to Be True… But True!
When we helped The Perth Mint develop the PMCP back in the mid-1990’s, our solution was to change the lessor.
Instead of leasing precious metals from the bullion banks at high costs, we suggested they use unallocated precious metals stored at The Perth Mint by clients.
If the client was happy with 100% backed, unique precious metals, but did not care what form it was in from day to day, reward the client by not charging a storage fee.
The industry standard for storage fees is typically somewhere between one half percent to three quarters percent per annum. That is cheaper than what the bullion banks typically charge to lease precious metals.
So, although it does cost The Perth Mint to store your precious gold, silver, and platinum, offering free storage on unallocated precious metals was (and is) a bonafide savings to The Perth Mint versus leasing from bullion banks.
This is a WIN / WIN / WIN situation for Perth Mint, their clients, and ASI.
The client gets the safest, most cost-effective option available to store precious metals with a government guarantee. The Perth Mint saves tons of money in leasing costs. ASI gets to offer arguably the best precious metals storage programs available in the world to better take care of our clients.
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Back to That 1-Ton Gold Coin…
So, if you own any unallocated gold at The Perth Mint, there is a good chance that you own a part of that beautiful coin pictured above.
And, make no mistake, owning unallocated gold, silver, and platinum at The Perth Mint is one of the best ways to get more of your money working for you versus wasted on high premiums.
That is how you Keep What’s Yours for both personal and IRA funds!
Call ASI at 800-831-0007 or send us an email to set-up a consultation… now… today!


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So, Who's with me?
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Voodoo

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Lol, -20%. Fool me once, shame on you.
 

Goldhedge

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What part of "We don't have it." don't people understand?

Screen Shot 2021-05-06 at 2.47.25 PM.png
 

Buck

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i would tell them to cut that kangaroo out, send it to me...that's MY part

:summer:
 

wjv

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WOW!!!!!! Where do I send my money?

1wQwCQB.jpg
 

Zed

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Oh jeeez this shit again...

They are audited, they are owned buy the government of a state that has more gold and silver mines than most countries.

Unallocated does not mean nonexistant, you own a part of their production metal float.

You pay the fab fees and you get the metal, I've never known them not to deliver. Sure when they are under pressure for small product things slow up. Not the end of the world.

If you are going for unallocated metal they are probably one of the safest ways to to it.

Normally all this shit comes from competing entities... so no issues there right?

I've used their services flawlessly for 30 odd years.

Now, you care to call me a fool again @AUnut?

Think carefully before you go slandering decent people that do a great job.
 

AUnut

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Oh jeeez this shit again...

They are audited, they are owned buy the government of a state that has more gold and silver mines than most countries.

Unallocated does not mean nonexistant, you own a part of their production metal float.

You pay the fab fees and you get the metal, I've never known them not to deliver. Sure when they are under pressure for small product things slow up. Not the end of the world.

If you are going for unallocated metal they are probably one of the safest ways to to it.

Normally all this shit comes from competing entities... so no issues there right?

I've used their services flawlessly for 30 odd years.

Now, you care to call me a fool again @AUnut?

Think carefully before you go slandering decent people that do a great job.
Just trying to figure where I said YOU are a fool?

BUT, I am glad to hear that YOU feel you are doing a Great job!
Booie for you!
 

Voodoo

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Oh jeeez this shit again...

They are audited, they are owned buy the government of a state that has more gold and silver mines than most countries.

Unallocated does not mean nonexistant, you own a part of their production metal float.

You pay the fab fees and you get the metal, I've never known them not to deliver. Sure when they are under pressure for small product things slow up. Not the end of the world.

If you are going for unallocated metal they are probably one of the safest ways to to it.

Normally all this shit comes from competing entities... so no issues there right?

I've used their services flawlessly for 30 odd years.

Now, you care to call me a fool again @AUnut?

Think carefully before you go slandering decent people that do a great job.

Did they or did they not have silver that their customers wanted? Plus, we know how Commie said government has turned so I wouldn't trust them any more than a cow. No, probably less.
 

Buck

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at least that cow can give you some milk...or some ribs

no one can eat empty promises
 

Zed

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What part of "We don't have it." don't people understand?

With respect that is not what unallocated storage means in most agreements. Perth Mint are clear about what it is and why it is, read the agreement.

Just trying to figure where I said YOU are a fool?

Your headline clearly infers as much. I am a long standing Perth Mint account holder and have had many dealings with them over the years with no issues. A brand new customer may lose out to my requirements if demand is off the charts but I've got 30 years with them, so you'd expect that. That headline, like most of the Perth Mint bullshit that spews out of small US dealers, tries to paint Perth Mint as thieves. This is a fundamental misunderstanding of why the mint exists and what its role is in the WA gold mining scene. It isn't anything like a US commercial mint. Maybe you should learn more about that.

Did they or did they not have silver that their customers wanted?

YES they do. Like always when silver goes nuts it is a small product supply issue WHICH ironically means that the mint itself is backed up with silver and processing it flat out to supply the insane demand spikes that silver occasionally has. When silver small product supply falls short of huge demand unallocated accounts are actually backed by MORE silver than when production is @ normal levels. Largest silver mine IN THE WORLD is in Australia... where do you think that metal gets processed?

Plus, we know how Commie said government has turned so I wouldn't trust them any more than a cow. No, probably less.

It's a government owned company with a charter enshrined in law. They don't have to listen to the state premier, their mission is clear and has remained unchanged.

Maybe Zed can?

I don't have to, I've never have had to and I will never have to! Maybe you can say something of substance!

Every single time the metals run up in small product demand a pack of American asshole dealers pipe up about the Perth Mint with the same tired old bullshit. They don't even seem to understand the mint and its reason to be, they seem to think it is like a US commercial mint which it isn't. The incentives are totally different.
 

Voodoo

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YES they do. Like always when silver goes nuts it is a small product supply issue WHICH ironically means that the mint itself is backed up with silver and processing it flat out to supply the insane demand spikes that silver occasionally has. When silver small product supply falls short of huge demand unallocated accounts are actually backed by MORE silver than when production is @ normal levels. Largest silver mine IN THE WORLD is in Australia... where do you think that metal gets processed?

My understanding is that they had a program where their customers could buy Silver and Store it in their vault. And if the customers wanted to remove their silver at some point then they could request that silver. If the Mint actually did what they said then there should be no waiting on mining, refining, or anything. It should be in the vaults. It was not. That is running a fractional reserve bullion bank. Probably not what they sold the customers.
 

chieftain

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I bought silver from Perth Mint last week, just had the goodies delivered.
 

Voodoo

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I bought silver from Perth Mint last week, just had the goodies delivered.

That's different than a storage program. I don't doubt they refine and sell a lot of product as well.
 

chieftain

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I have no dealings with their storage programs, I take delivery every time.

There were grumblings about delivery some months ago (there's a thread on here about it me thinks) but I've never had problems.
 

Zed

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My understanding is that they had a program where their customers could buy Silver and Store it in their vault.

Depository clients can have allocated storage, that is what you are talking about.

And if the customers wanted to remove their silver at some point then they could request that silver.

Allocated accounts are given the list of bar numbers that are held in their name.

If the Mint actually did what they said then there should be no waiting on mining, refining, or anything. It should be in the vaults. It was not.

Bullshit... you get the bar numbers issued to you when you open the account. Nothing is produced in response to a request for allocated metal.

That is running a fractional reserve bullion bank. Probably not what they sold the customers.

Again, pure dribbling bullshit.

What you described applies to unallocated holders of metal. People who go unallocated with the Perth Mint are financing the float of metal that is constantly in production at the mint. They are backed by that metal. Because it is a producing mint that metal is constantly coming in unrefined, being refined and turned into various products. If you want delivery on unallocated you have to pay for the cost of fabricating the metal into the form you want and you always have to wait until there is enough of the form you want to supply you. Normally it is off the shelf but if they have orders backed up for a month you get into the que and you get your metal after all the orders ahead of you.

That is the downside to unallocated with the Perth Mint, the upside is that you pay no fabrication fee, no premium and you have no storage costs. That is the deal. Take it or leave it... but to say it is unbacked it to say that the Perth Mint has stopped producing precious metal products. Capiche?

In the last major silver run up they stopped taking money for unallocated silver accounts. They got too much interest and were 100% covered, no need for anymore, production was maxed out and no extra amount of silver was going to fix that issue.

There is no benefit to running a fractional system... they are public service wage slaves that don't get a cut of any profit at all. Why would they even considered flaunting the law and risking jail for a crappy wage? Think about it? Go back to why the Mint exists in the first place, it isn't anything like most of your mints.
 

Zed

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There were grumblings about delivery some months ago (there's a thread on here about it me thinks) but I've never had problems.

They are slow to increase production capacity, demand can spike so wildly that chasing it is a fools game. Small product will always get slow in times of large demand and the Perth Mint would need to believe that a sustained rise in demand will under pin any decision to expand capacity. Eve if they make that decision it will be slow to add the capacity, they are still government funded after all.