Perth Mint silver?
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A picture of Epsteins mate for no added cost!?
I have never bought from Perth Mint, is it markedly cheaper than a large dealer like Jaggards? I tried a few years back , maybe a few times, to get a roll or two, but something about the process didnt work for me.
I have never bought from Perth Mint, is it markedly cheaper than a large dealer like Jaggards? I tried a few years back , maybe a few times, to get a roll or two, but something about the process didnt work for me.
Hi Sandy Gooch, I purchased 2 lots of Gold & Silver from Perth Mint in early 2020. I didn't have any issues. Straight forward. Talked with them directly to get a variety in my purchases. Went smoothly & delivery a few days later.
I haven't purchased from Perth Mint since then as I found a very reasonably priced dealer in Melbourne that I now use. I'm in Geelong, 1 hr trip to the dealer in Melbourne, so I go in person, which I prefer.
The financial crimes watchdog is investigating the Perth Mint. That could be bad news for all West Australians
The Perth Mint is the world's largest producer of newly mined gold and turns over $26 billion a year — and now it's in the crosshairs of Australia's financial regulator.
www.abc.net.au
Pert Mint was under investigation in 2022, but the story slowly died off & I'm not aware of the outcome of the investigation. As the Perth Mint is backed by the WA Gov, it became a bit of an embarrassment, so I think the WA Gov put pressure out & slowly buried the whole affair.
Perth Mint is still in full operation, at this time, as far as I can tell. Silver has been in supply deficit for 6 + yrs. It's reported as 4 yrs, but 2 additional yrs were only just in surplus because of outflows from ETF's. So actual mine supply is a deficit for 6 + yrs.
I don't know how long above ground stockpiles can cover the mining deficits. An interesting fact I came across a few weeks ago. Each Tomahawk/Cruise Missile contains over 15 Kg ( Yes Kilograms ) of silver. I can't find actual amount of modern weaponry, but I have seen reported estimates of over 200 Million oz/year of Military Silver consumption.
Part of the story was that huge defense department budgets ( at big banking institutions ) are believed to be very happy about price suppression of Silver. I don't find that a conspiracy theory that I would easily dismiss.
Edit to add: Most silver is a byproduct of other mining. So a copper miner that is producing the right amount of copper from the mine won't increase production just to get more marginal Silver, as the extra copper production could cause a lowering of price on the market & the copper is their main income. Plus finding/mining of Silver ( or any other mined metal/mineral ) is normally a many years project. I have seen reported that most mining projects are a 12 - 15 yrs program. So no quick mining supply to come online & be available.
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