The Perth Mint in Australia, runs a highly successful Gold Certificate Program called The Perth Mint Certificate Program (PMCP).
This gold certificate program is designed for the individual to buy and keep gold and other precious metals without the inconvenience associated with transportation and storage of large quantities of gold. This is done by The Perth Mint issuing a Certificate confirming your purchase and which is then stored at the Mint on your behalf.
According to the Mints' website, "The Perth Mint Certificate gives you legal title to precious metals held by The Perth Mint on either a segregated (allocated) or unsegregated (unallocated) basis. The Certificate is in your name and identified by a Certificate number. The PMCP is also the only Government Guaranteed certificate program in the world, making it one of the safest ways to own precious metals."
There are two main aspects to the program. An investor can select either Allocated (segregated) or Unallocated (unsegregated) storage. Both allocated or unallocated storage accounts are covered by a Western Australian Government Guarantee so the main difference, as far as the investor is concerned is that there are NO storage fees on the unallocated option.
With the Unallocated (unsegregated) Bullion You have title to unspecified precious metal deposited in a metal account. You pay only the precious metal cost at the time of your purchase. You pay NO storage fees on this option. This is a pool of precious metal such as gold or silver and one simply 'shares' in that pool.
With the Allocated (segregated) Coins or Bars (Gold and Silver only) however, you own title to specific coins and/or bars, which are placed in a physical form in the PMCP storage facility. You pay the quoted precious metal cost, fabrication charges and storage fees at the time of your purchase. Storage fees are based on the purchase value of your precious metal at the time of purchase, so your storage costs will not rise if precious metal prices increase. Annual storage fees are collected every three years in arrears, with one year's storage payable at time of purchase.
The minimum account opening amount is USD 10,000 (AUD 5,000 for Australian/New Zealand residents) And further minimum subsequent purchases or sales are USD 5,000 (AUD 5,000).
Products included are Perth Mint allocated coins and bars and unallocated bullion. All certificates are purchased through a reputable international Approved Dealer network and are transferable, non-negotiable, and have no fixed size.
The PMCP is especially suitable for investors seeking confidentiality, flexibility and low cost secure storage for their precious metal assets. As far as Australians are concerned, no sales tax is levied on purchases and sales of precious metals in Australia and there are no restrictions on the movement of precious metal in and out of Australia. Consult your own financial adviser with regard to taxes in your own country.
With regard to security. As per the Perth Mint, "All precious metal held by the Perth Mint Depository in both allocated or unallocated storage accounts is covered by a Western Australian Government Guarantee. The Perth Mint is wholly owned by the Government of Western Australia and has been providing investors with precious metal storage and trading facilities since 1899. Western Australia is rated AAA by Standard and Poor's. The bullion bar products of the Gold Corporation group enjoy accreditation from the London Bullion Market Association (LBMA), the New York Commodities Exchange (COMEX) and the Tokyo Commodities Exchange (TOCOM). And all precious metal owned or controlled by the group, including PMCP metal, is insured (at The Perth Mint's cost) by reputable international insurers."
The Perth Mint Certificate Program is the only Government Guaranteed precious metal accumulation program in the world. It is owned 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.
Transaction confidentiality is provided for under the Gold Corporation Act 1987 and the Perth Mint Certificate Program's administrative procedures.
The following coins and bars are available under allocated storage:
Australian Nugget gold coins in eight sizes: 1 kilo, 10oz, 2oz, 1oz, 1/2oz, 1/4oz, 1/10oz, 1/20oz
Australian Lunar gold coins in seven sizes: 1 kilo, 10oz, 2oz, 1oz, 1/4oz, 1/10oz,1/20oz
Australian Kookaburra silver coins in four sizes: 1 kilo, 10oz, 2oz,1oz
Australian Lunar silver coins in five sizes: 1 kilo, 10oz, 2oz, 1oz, 1/2oz
Perth Mint gold bars in eight sizes: 50oz, Kilo, 20oz, 10oz, 5oz, 2.5oz, 1oz, 1/2oz
Perth Mint silver bars in five sizes: 100oz, 50oz, Kilo, 20oz, 10oz
AGR Matthey 400oz gold bar and 1,000oz silver bar
The Perth Mint Certificate can easily be liquidated if required. The owner simply sells the Certificate back to an Approved Dealer. Alternatively, the owner can take physical delivery at the Perth Mint or arrange for physical delivery at a variety of locations worldwide of their gold.
One can also surrender any portion of the Certificate, provided you continue to meet the account minimum. A new Certificate will be issued for the remainder of your precious metals.
In addition to the purchase of the precious metals and payment of fabrication charges, there is a USD $50.00 (AUD $10.00 for Australian/New Zealand residents) certificate fee regardless of the size of the certificate. The only other fee is the Approved Dealer's commission.
Lastly, if you lose or have stolen your certificate(s) a replacement is available by filing a Lost Certificate Declaration Form and paying a re-issuance fee.
The Perth Mint Certificate is made available to individual investors through an approved dealer much like the purchase of physical precious metals for delivery.
For those who want to own gold without the inconvenience of transport, storage, the security risks of having and owning gold on your property and the additional cost of insurance, a Gold Certificate Program from the Perth Mint is a useful alternative.