The Perth Mint Depository Program (PMDP) offers investors a unique range of precious metal storage facilities on internationally competitive terms.
The program is simple, straightforward and easy to use. Its administration is not unnecessarily burdensome and complies with Australia’s Anti Money Laundering and Counter-Terrorism Financing legislation.
PMDP clients have legal title to precious metals stored in either an Allocated, Pool Allocated or Unallocated accounts. The PMDP facilities are especially suitable for private investors seeking confidentiality and flexibility and a safe haven for their precious metal assets in an uncertain world.
PMDP offers clients the following comprehensive services:
- Precious metal storage on an Allocated, Pool Allocated or Unallocated basis. Note that unallocated silver is no longer available to new clients and the availability of other storage types to new clients is at the sole discretion of the Mint as storage capacity is limited (existing clients will be grandfathered).
- Purchase and sale of precious metal holdings at internationally competitive prices with two day settlement of sale proceeds.
- Execution of standing and stop loss orders.
- Arrangement of precious metal transport, insurance, and release from safe custody.
- Provision of transaction or holding statements on request.
- Conversion of Unallocated and Pool Allocated metal to Allocated coins or bullion upon payment of the current fabrication charges.
Account opening minimums apply to PMDP, which are detailed in a separate Fee and Product Information Schedule. The Schedule also details coins and bars available in PMDP, storage fee rates and transaction Entry and Exit Fees, which apply to account balances below certain levels. Above those levels the PMDP attracts no Entry or Exit Fees, making it a highly competitive custodial facility.
There are currently and generally no Australian taxes or duties on the import or export of The Perth Mint’s bullion bars or coins into or out of Australia. The Perth Mint’s bullion bars or coins also do not attract Australian Goods and Services Tax (equivalent terminology in other countries would be “sales tax” or “VAT”).
The Perth Mint is currently not required to apply any withholding taxes on capital gains made on precious metals held with it. However, clients are advised to consult their own taxation professional in regards to the taxation and jurisdictional implications and issues (if any) of investing in precious metals in Australia under PMDP.