Perth Mint Certificate Program
Encyclopedia
The Perth Mint Certificate Programme allows individuals, and corporations to own investment grade gold
, silver
and platinum
bullion stored in vaults in the Perth Mint
of Western Australia
(est. 1899). The bullion is stored in a government mint
and insured by Lloyd's of London
. The programme is fully guaranteed by the Government of Western Australia
which enjoys the highest AAA rating from Standard and Poor's.
When investors buy precious metal
s, they receive a Precious Metal Certificate which is akin to a certificate of ownership. It details their name and the specific number of ounces of the underlying metal that they own and that is stored on their behalf in the mint. The quantity will depend on the price of the metal per ounce and the amount they have decided to invest. Perth Mint Certificates are highly liquid and can be sold by fax
and phone call.
Affordable
Flexible
Availability
Perth Mint Certificates are available only through a very limited number of authorised dealers.
of London were established in the Australian colonies to refine gold from the gold rush
es and to mint gold sovereigns and half-sovereigns for the British Empire
. The Sydney
branch opened in 1855, the Melbourne
branch in 1872 and the Perth
branch on 20 June 1899, two years before Australia's Federation
in 1901. The Perth Mint
opened in 1899 in response to the discovery of rich gold deposits in Coolgardie
and Kalgoorlie
. It was Australia's third branch of Britain's Royal Mint - the others being the Sydney Mint
and the Melbourne Mint
(both closed). Diggers, who flocked to the then colony of Western Australia
in huge numbers from other parts of Australia and from around the world, deposited their raw gold at The Perth Mint where it was minted into gold coins.
Between 1899 and 1931, The Perth Mint struck more than 106 million gold sovereigns and nearly 735,000 half-sovereigns for use as currency
in Australia and throughout the British Empire. The Mint stopped making gold sovereigns when Britain abandoned the gold standard
in 1931. Nevertheless, the refinery
remained busy as staff turned their skills to making fine gold bullion bars. But it was not long before the Mint was involved again in the production of coins. During World War II
, the Perth Mint began minting the Australian coin
age from base metal
s. Until 1984, it also manufactured much of Australia's conventional coin currency. The Perth Mint achieved "arguably the purest of all gold" in 1957 when the mint produced a proof 'plate' of almost six nines - 999.999 parts of gold per thousand. The Royal Mint was so impressed that it ordered some of the gold as the benchmark
for its own standards. The Perth Mint remained under Britain's jurisdiction
until 1 July 1970, when ownership transferred to the State Government of Western Australia.
The Mint's new direction was formalised in 1987 with the creation of Gold Corporation by a State Act of Parliament. Under a unique agreement with the Commonwealth of Australia's Department of the Treasury, the Mint's new operator was empowered to mint and market gold, silver and platinum Australian legal tender
coinage to investors and collectors worldwide. Prime Minister Bob Hawke
launches the Australian Nugget Gold Coins Series
in 1987. The first day's trading yielded sales of 155,000 ounces of gold worth $103 million, well above the sales target of 130,000 ounces to the end of June. Today, The Perth Mint is a member of an elite group of world mints whose pure gold, silver and platinum legal tender coins are trusted without question. Like the Australian Nugget, its Australian Kookaburra Silver Coin Series and Australian Lunar Gold and Silver Coin Series are extensively sought after by bullion investors worldwide.
Today, the Mint continues to provide refining and other services to the gold industry and manufactures many coin related numismatic items for investors and coin collectors
. It is responsible for manufacturing and marketing most of Australia's legal tender precious metal coins, including proof quality Australian Nugget gold coins, Australian Platinum Koala coins, Australian Silver Kookaburra coins and bullion. In 2003, The Perth Mint officially opened an 8,400 square metre state-of-the-art manufacturing
facility next door to its original limestone
building. Dominating the Mint's heritage precinct, these two important buildings are powerful symbols of more than 100 years of minting excellence in Western Australia.
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
, silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
and platinum
Platinum
Platinum is a chemical element with the chemical symbol Pt and an atomic number of 78. Its name is derived from the Spanish term platina del Pinto, which is literally translated into "little silver of the Pinto River." It is a dense, malleable, ductile, precious, gray-white transition metal...
bullion stored in vaults in the Perth Mint
Perth Mint
The Perth Mint is Australia's oldest currently operating mint ....
of Western Australia
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
(est. 1899). The bullion is stored in a government mint
Mint (coin)
A mint is an industrial facility which manufactures coins for currency.The history of mints correlates closely with the history of coins. One difference is that the history of the mint is usually closely tied to the political situation of an era...
and insured by Lloyd's of London
Lloyd's of London
Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market. It serves as a partially mutualised marketplace where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool and spread risk...
. The programme is fully guaranteed by the Government of Western Australia
Government of Western Australia
The formation of the Government of Western Australia is prescribed in its Constitution, which dates from 1890, although it has been amended many times since then...
which enjoys the highest AAA rating from Standard and Poor's.
When investors buy precious metal
Precious metal
A precious metal is a rare, naturally occurring metallic chemical element of high economic value.Chemically, the precious metals are less reactive than most elements, have high lustre, are softer or more ductile, and have higher melting points than other metals...
s, they receive a Precious Metal Certificate which is akin to a certificate of ownership. It details their name and the specific number of ounces of the underlying metal that they own and that is stored on their behalf in the mint. The quantity will depend on the price of the metal per ounce and the amount they have decided to invest. Perth Mint Certificates are highly liquid and can be sold by fax
Fax
Fax , sometimes called telecopying, is the telephonic transmission of scanned printed material , normally to a telephone number connected to a printer or other output device...
and phone call.
Features
Secure- The Perth Mint is wholly owned by the Government of Western Australia and has been providing investors with secure vaultBank vaultA bank vault is a secure space where money, valuables, records, and documents can be stored. It is intended to protect their contents from theft, unauthorized use, fire, natural disasters, and other threats, just like a safe...
storage of precious metals along with tradingTradeTrade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
facilities since 1899. - Western Australia is rated AAA by the US international credit rating agencyCredit rating agencyA Credit rating agency is a company that assigns credit ratings for issuers of certain types of debt obligations as well as the debt instruments themselves...
, Standard and Poor's. - The bullion bar products of the Gold CorporationGold CorporationGold Corporation is a company owned by the Western Australian Government, established by the Gold Corporation Act 1987, with a mandate to operate the Perth Mint, to market Australian gold and other related activities....
group enjoy accreditationAccreditationAccreditation is a process in which certification of competency, authority, or credibility is presented.Organizations that issue credentials or certify third parties against official standards are themselves formally accredited by accreditation bodies ; hence they are sometimes known as "accredited...
from the London Bullion Market Association (LBMA), the New York Mercantile ExchangeNew York Mercantile ExchangeThe New York Mercantile Exchange is the world's largest physical commodity futures exchange. It is located at One North End Avenue in the World Financial Center in the Battery Park City section of Manhattan, New York City...
(COMEX) and the Tokyo Commodity ExchangeTokyo Commodity ExchangeThe Tokyo Commodity Exchange is a non-profit organization, and regulates trading of futures contracts and option products of all commodities in Japan...
(TOCOM). - All PMCP metal is insured (at The Perth Mint's expense) by Lloyds of London.
Affordable
- No storage fees for unallocated (unsegregated) precious metals.
- No importImportThe term import is derived from the conceptual meaning as to bring in the goods and services into the port of a country. The buyer of such goods and services is referred to an "importer" who is based in the country of import whereas the overseas based seller is referred to as an "exporter". Thus...
or exportExportThe term export is derived from the conceptual meaning as to ship the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer"...
duties on precious metals in AustraliaAustraliaAustralia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
for non-residents. - An investor can collect precious metals from The Perth Mint or arrange insured delivery to an international location.
- Low minimum purchase requirements. Entry to the Perth Mint Certificate Program requires only a low minimum investment of USD 10,000 (c. EUR 7,500; c. GBP 7,000). Minimum subsequent purchase or sale amounts are USD 5,000 (c. EUR 3,750; c. GBP 3,500).
Flexible
- No predetermined transaction size, other than the minimum requirements listed above.
- Investors have the option of holding precious metals (Gold, Silver and Platinum) in either bullion coin or bullion bar form. * Investors can convert from an unallocated account to an allocated account at any time.
- Certificates can be redeemed, all or in part, at any time.
- Metal can be shipped, insured, to a location of your choice. Exclusive
- Overseas relationship is with a Government Vault, not a foreign bankBankA bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
. - Investors have a private client vaulting relationship with The Perth Mint.
- The Perth Mint is operated by the Gold Corporation, a unique diversified Australian precious metals group created by statute in 1987 and wholly owned by the Government of Western Australia.
- The Perth Mint Certificate Program is the only government-guaranteed, precious metal accumulation program in the world.
- Transaction confidentialityConfidentialityConfidentiality is an ethical principle associated with several professions . In ethics, and in law and alternative forms of legal resolution such as mediation, some types of communication between a person and one of these professionals are "privileged" and may not be discussed or divulged to...
is provided for under the Gold Corporation Act 1987 and the Perth Mint Certificate Programs administrative procedures. - The Perth Mint's records utilize a code number to ensure client confidentiality and security. * The document is registered to the owner and it is referenced by client name and Certificate number.
Availability
Perth Mint Certificates are available only through a very limited number of authorised dealers.
History
The Perth Mint has played a central role in the development of Western Australia's gold industry. During the 19th Century, three branches of the Royal MintRoyal Mint
The Royal Mint is the body permitted to manufacture, or mint, coins in the United Kingdom. The Mint originated over 1,100 years ago, but since 2009 it operates as Royal Mint Ltd, a company which has an exclusive contract with HM Treasury to supply all coinage for the UK...
of London were established in the Australian colonies to refine gold from the gold rush
Gold rush
A gold rush is a period of feverish migration of workers to an area that has had a dramatic discovery of gold. Major gold rushes took place in the 19th century in Australia, Brazil, Canada, South Africa, and the United States, while smaller gold rushes took place elsewhere.In the 19th and early...
es and to mint gold sovereigns and half-sovereigns for the British Empire
British Empire
The British Empire comprised the dominions, colonies, protectorates, mandates and other territories ruled or administered by the United Kingdom. It originated with the overseas colonies and trading posts established by England in the late 16th and early 17th centuries. At its height, it was the...
. The Sydney
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
branch opened in 1855, the Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
branch in 1872 and the Perth
Perth, Western Australia
Perth is the capital and largest city of the Australian state of Western Australia and the fourth most populous city in Australia. The Perth metropolitan area has an estimated population of almost 1,700,000....
branch on 20 June 1899, two years before Australia's Federation
Federation of Australia
The Federation of Australia was the process by which the six separate British self-governing colonies of New South Wales, Queensland, South Australia, Tasmania, Victoria and Western Australia formed one nation...
in 1901. The Perth Mint
Perth Mint
The Perth Mint is Australia's oldest currently operating mint ....
opened in 1899 in response to the discovery of rich gold deposits in Coolgardie
Coolgardie, Western Australia
Coolgardie is a small town in the Australian state of Western Australia, east of the state capital, Perth. It has a population of approximately 800 people....
and Kalgoorlie
Kalgoorlie, Western Australia
Kalgoorlie, known as Kalgoorlie-Boulder, is a town in the Goldfields-Esperance region of Western Australia, and is located east-northeast of state capital Perth at the end of the Great Eastern Highway...
. It was Australia's third branch of Britain's Royal Mint - the others being the Sydney Mint
Sydney Mint
The Sydney Mint in Sydney, Australia, is the oldest public building in the Sydney Central Business District. Built between 1811 and 1816 as the southern wing of the Sydney Hospital, it was then known as the Rum Hospital. In 1854 a mint was established on the site with the hospital building used...
and the Melbourne Mint
Melbourne Mint
The Melbourne Mint, in Melbourne, Australia, was a branch of the British Royal Mint. Until 1916 it minted only gold sovereigns, and all Australian coins between 1927 and 1967...
(both closed). Diggers, who flocked to the then colony of Western Australia
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
in huge numbers from other parts of Australia and from around the world, deposited their raw gold at The Perth Mint where it was minted into gold coins.
Between 1899 and 1931, The Perth Mint struck more than 106 million gold sovereigns and nearly 735,000 half-sovereigns for use as currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
in Australia and throughout the British Empire. The Mint stopped making gold sovereigns when Britain abandoned the gold standard
Gold standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...
in 1931. Nevertheless, the refinery
Refinery
A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value.-Types of refineries:Different types of refineries are as follows:...
remained busy as staff turned their skills to making fine gold bullion bars. But it was not long before the Mint was involved again in the production of coins. During World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, the Perth Mint began minting the Australian coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
age from base metal
Base metal
In chemistry, the term base metal is used informally to refer to a metal that oxidizes or corrodes relatively easily, and reacts variably with diluted hydrochloric acid to form hydrogen. Examples include iron, nickel, lead and zinc...
s. Until 1984, it also manufactured much of Australia's conventional coin currency. The Perth Mint achieved "arguably the purest of all gold" in 1957 when the mint produced a proof 'plate' of almost six nines - 999.999 parts of gold per thousand. The Royal Mint was so impressed that it ordered some of the gold as the benchmark
Benchmarking
Benchmarking is the process of comparing one's business processes and performance metrics to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost...
for its own standards. The Perth Mint remained under Britain's jurisdiction
Jurisdiction
Jurisdiction is the practical authority granted to a formally constituted legal body or to a political leader to deal with and make pronouncements on legal matters and, by implication, to administer justice within a defined area of responsibility...
until 1 July 1970, when ownership transferred to the State Government of Western Australia.
The Mint's new direction was formalised in 1987 with the creation of Gold Corporation by a State Act of Parliament. Under a unique agreement with the Commonwealth of Australia's Department of the Treasury, the Mint's new operator was empowered to mint and market gold, silver and platinum Australian legal tender
Legal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
coinage to investors and collectors worldwide. Prime Minister Bob Hawke
Bob Hawke
Robert James Lee "Bob" Hawke AC GCL was the 23rd Prime Minister of Australia from March 1983 to December 1991 and therefore longest serving Australian Labor Party Prime Minister....
launches the Australian Nugget Gold Coins Series
Australian Gold Nugget
The Australian Gold Nugget is a gold bullion coin minted by the Perth Mint. The coins have been minted in denominations of 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, 1 oz, 2 oz, 10 oz, and 1 kg of 24 carat gold...
in 1987. The first day's trading yielded sales of 155,000 ounces of gold worth $103 million, well above the sales target of 130,000 ounces to the end of June. Today, The Perth Mint is a member of an elite group of world mints whose pure gold, silver and platinum legal tender coins are trusted without question. Like the Australian Nugget, its Australian Kookaburra Silver Coin Series and Australian Lunar Gold and Silver Coin Series are extensively sought after by bullion investors worldwide.
Today, the Mint continues to provide refining and other services to the gold industry and manufactures many coin related numismatic items for investors and coin collectors
Coin collecting
Coin collecting is the collecting or trading of coins or other forms of minted legal tender.Coins of interest to collectors often include those that circulated for only a brief time, coins with mint errors and especially beautiful or historically significant pieces. Coin collecting can be...
. It is responsible for manufacturing and marketing most of Australia's legal tender precious metal coins, including proof quality Australian Nugget gold coins, Australian Platinum Koala coins, Australian Silver Kookaburra coins and bullion. In 2003, The Perth Mint officially opened an 8,400 square metre state-of-the-art manufacturing
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
facility next door to its original limestone
Limestone
Limestone is a sedimentary rock composed largely of the minerals calcite and aragonite, which are different crystal forms of calcium carbonate . Many limestones are composed from skeletal fragments of marine organisms such as coral or foraminifera....
building. Dominating the Mint's heritage precinct, these two important buildings are powerful symbols of more than 100 years of minting excellence in Western Australia.