Buying & Selling Procedures

Purchases can be made over the counter or by telephone 1300 201 112. (International Number + 61 8 9421 7428)

Buying Procedure:

Terms & Conditions:

1. Metal is purchased on client’s behalf at the time the order is placed via Telephone with the Perth Mint Customer Service officer.

2. A Binding Contract to purchase exists once the client agrees and places the buy order - either via telephone or in writing, under applicable laws in the jurisdiction of the Courts of Western Australia.   At this time, the buyer assumes all price exposure risk on the goods.  A copy of the completed Order Confirmation & Sales Contract is immediately emailed or faxed to the client, to be signed and returned within 1 hour to finalise the transaction. Our Contract is legally binding notwithstanding the non return of this document.

3. Payment. Full payment is due within 2 working days of placing the order. Non-payment within 5 days will result in cancellation of the contract and recovery of costs from the client – see Completion of Sale below.

4. Client Identification.  For purchases of $5000 or more AUSTRAC require we have acceptable identification for each customer on file. Certified ID documents must be posted to The Perth Mint PO BOX 6297, East Perth, WA 6892 with the original signature of the certifier. 
   ID requirement for individuals is a certified photo ID document (driver’s licence and passport) which gives the Customer’s Full Name and either Date of Birth or Residential Address.
   ID requirements for an Australian company are a certified copy of the ASIC certificate of incorporation and the names of all Directors of private companies.
   Funds in payment must originate from the verified customer’s account.

5. Pricing. Combined per unit prices are made up of the metal content at the prevailing Perth Mint spot price plus manufacturing premium. The applicable metal price is noted on the Sales Contract.

6. GST. If the goods are being exported and delivery does not occur within 60 days of purchase, GST may apply and will be charged to the client if applicable.

7. Insurance. Buyers are offered Insurance on delivery at 1% premium (total value including delivery), to a maximum sum insured of $30,000 in any single delivery. Those opting to decline insurance must sign a liability waiver on the Sales Contract. Any claim for lost goods must be made within 48 hours of despatch from The Perth Mint.

8. Deliveries in Australia. Under $30,000 are delivered by AAE courier door-to-door with signature required – deliveries of $30,000 or more go Brinks Security delivery at quoted cost.

9. Courier Delivery – clients will be notified when the order has been despatched and the expected delivery date. The client must be present at the delivery address to receive and sign for the goods. If the client is not present, the courier will leave a card and the goods must then be collected by the client from the AAE depot or named Post Office.

10. Despatch. The Perth Mint will endeavour to despatch this order seven working days from receipt of full payment. In the event of high demand, delivery delays could occur. The Perth Mint accepts no liability in the event of delayed deliveries.

11. Completion of Sale. In the event payment is not received within 5 days of the order date, the transaction will be cancelled and the Contract Completion Guarantee activated (if applicable).

12. Contract Completion Guarantee – for order value of $5,000 but less than $100,000 completion of the sales contact must be guaranteed with the provision of a credit card when placing the order. In the event of non-completion of the terms of the Sales Contact by the client, an administration fee of $150 plus any losses incurred by The Perth Mint in the liquidation of metal held on behalf of the client will be charged to the credit card. Any gains resulting from liquidation of metal will not be remitted to the client. The credit card must be current and in the name of the client.  The credit card provided for this Guarantee is not authorised for any other charge or payment.

13. Deposits. Orders over $100,000 value require the payment of 10% deposit in cleared funds prior the fixing of prices and acceptance of the order. A deposit may also be requested in other circumstances regardless of the order value.

14. Returns Policy. No returns of Bullion are accepted.

15. Buy-back.  The buy-back from a client of bullion product which has yet to be delivered or paid for will not be done.  Buy-back of undelivered bullion may be undertaken only if the original sale has been paid in full with cleared funds (delay of 7 working days applies).

16. Payment Methods.
1. Telegraphic Transfer (TT) or Real Time Gross Settlement (RTGS)- Clearance period 2 working days
2. Direct Bank Account Deposit - Clearance period 7 working days
3. Cheque/Money Order/Bank Cheque - Clearance period 7 working day
4. BPay (Biller Code: 24554. Your Reference Number will be quoted on your contract) - Clearance period 2 working days. (Please note: The Perth Mint Shop cannot accept payments by BPAY)
   
   Notes:
1. All cheque types maximum value accepted $10,000.
2. Prices will not be backdated to the time client’s funds appear in the Perth Mint’s bank account – the next working day is used.
3. The Mint is not liable for any delays in receipt of clients’ funds into it’s bank account or lack of notification.
4. The Sales Order number must be quoted as a reference when depositing funds so The Mint can identify your payment and ensure that your funds are allocated correctly.

17. Trading Hours. Orders for bullion will be accepted (and completed) by telephone between 8.30am and 5.00pm Perth time Monday to Friday, excluding public holidays (the signed Sales Contract must be received from the Client by 5.00pm).

18. Advice. Perth Mint does not provide investment or taxation advice. You should consult your own advisors for guidance and recommendations on these issues.

Bank Details:

Please transfer the contract amount, quoting your order number.

Please ensure that payment is made AUSTRALIAN DOLLAR (AUD$) only – payment will not be accepted in any other currency.

Selling Procedure

Sales can be made over the counter or by telephone (interstate or international clients only, local clients need to come in person to the Mint).

All transactions require identification in the form of a passport, birth certificate, a licence or permit issued under a law of the Commonwealth, a State or Territory (ie Australian Drivers licence) or an identification card issued to a person by the Commonwealth, a State or Territory as evidence of the person’s entitlement to a financial benefit.  Identification cards issued to a student at a tertiary education institution are also acceptable.

All transactions of $10,000 or more will require an AUSTRAC 100 Point Check form to be completed.  A current driver’s licence and birth certificate/passport is sufficient to fulfil this one-off requirement.  We require certified copies of these documents for clients who conduct transactions over the telephone.

All transactions over $100,000 will require the goods to be received and verified by the Mint before a price will be agreed.

• Once the goods have been received and verified by the Mint, the Mint will quote a price and if the client agrees a contract will be set.
• Please note that the Mint will not ‘back date’ prices to the time you first contacted the Mint or sent the goods.
• The Mint will not be liable for any delay in your goods arriving or delay/failure to contact you.
• It is only when the price is agreed between both parties that a contract will be valid.

Once a price has been agreed, it is fixed and you will be given a purchase order number. The purchase thus becomes a binding contract between you and the Mint.

If the sale has been conducted by telephone the purchase order details will be faxed or emailed to you and must be signed and returned to the Mint within the hour.

Goods must be received by the Mint within 48 business hours of the transaction date.

If the goods fail to arrive the Mint reserves the right to revoke the transaction and recover any losses. We will call you before taking this action.

• The goods must be packed securely in a PLATINUM EXPRESS bag and addressed to Lyn Oakley, 310 Hay St, East Perth, WA, 6004 with the description on the parcel as “Samples”. Do not address the parcel to “The Perth Mint”. 
• The PLATINUM EXPRESS receipt must be retained in order to trace deliveries and as proof of despatch.
• A quote for a secured/insured delivery can be obtained for purchases above $60,000.  The Perth Mint will not insure parcels under this value.
• Please ensure you include your bank details: bank name, branch, BSB, account number and account name.

Payments for sales to the Mint are only made by direct credit to the account belonging to the person(s) or company whose signature(s) appear on the purchase.

Payments of cash (over the counter) can be made up to $1,000 per person (Subject to availability).  If the transaction exceeds $1,000 a full payment will be made by direct credit.  No part payments of cash can be made.

Payment instructions to the Mint’s bank are usually transmitted on the business day following receipt and verification of the goods.

• How soon funds will appear in your account depends on your bank, but in most cases, the funds will appear in your account on the second business day following the receipt of bullion.
• For example, if we receive your goods on the 1^st, we will do a payment run on the 2^nd, the banks process this overnight so on the 3^rd you will “see” the funds in you account with a crediting date of the 2^nd. This usually means you will not be able to access your funds on the 2^nd.
• The Mint will not be held liable for delays in funds reaching your account.