The Little Book of Bull Moves, Updated and Expanded by Schiff Peter D

Author:Schiff, Peter D. [Schiff, Peter D.]
Language: eng
Format: mobi
ISBN: 9780470902233
Publisher: Wiley
Published: 2010-07-19T22:00:00+00:00

Perth Mint

Perth Mint is owned by the government of Western Australia, which is AAA-rated, and fully guarantees all accounts, which are further insured by Lloyds of London. This 100-year-old mint is the only government-backed bullion storage facility in the world and it is represented in every United States state except Arizona by my own firm, Euro Pacific Capital.

The Perth Mint Certificate Program (PMCP) differs from certificate programs discussed earlier, because the metals remain on the premises and cannot be lent out.

Under the PMCP, investors can purchase bullion gold, silver, and platinum at the Perth Mint spot market ask price with no markup. You pay only a 2.25 percent service fee and a $50 administrative fee, so the cost of a minimum investment of $10,000 would be $10,275. Storage, which can be a significant cost of physical ownership, particularly with bulky silver, is free. Should you decide someday to take physical possession of your metal, you can instruct that it be fabricated into bars or coins of set weight, paying a small fee to cover the costs of doing so.

PMCP accounts are probably safe from the risk of confiscation since, unlike the United States in 1934, Australia has no history of prohibiting personal ownership of gold and could ill afford to disrupt an industry as vital to its economy as mining or to cause investors to lose faith in the scarcity of gold. Certificates, provided they are as safe as they are here, are more convenient than storing coins or bars at home or in a safe-deposit box. Since the PMCP is not a bank account, you don’t have to disclose it, and should the United States ever again make it illegal to own gold, you would be at some advantage with your money out of the country.

As stated earlier, Perth Mint is represented by my own firm, Euro Pacific Capital, and I can personally attest to its service and reputability.

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