Should I buy Perth Mint unallocated gold/silver ?

[fatcat1970]

Hi Everyone, This is my first post on the forum.

I have $250K; trying to decide what to do it.

I don't want my money sitting in a bank being eaten by inflation, so I'm thinking of buying Perth Mint unallocated gold/silver. I think gold/silver one of the few assets at the moment that isn't way overpriced.

I don't want to store so much gold myself or pay large storage fees. Perth Mint unallocated has free storage.

I also like the option of being able to collect the gold in person in Perth. I guess from there I could fly to Singapore or Dubai or Switzerland and sell it discretely; I have two passports which may assist in doing that.

It is also possible to OFF-line trade unallocated gold/silver by phone during working hours of the Perth Mint.

What do you think? Can anyone suggest better options than Perth Mint or perhaps a better option than gold/silver? Thanks.

 

[johndoes84]

I recommend watching the youtube videos about Perth Mint possibly suspect. Their company reporting balance sheet has been analysed as possibly suspect and may be doing some tricky fractional reserve game. As always do your own research.
WA Premier Mark McGowan is locking down the state so taking physical delivery could be a problem.

 

[fatcat1970]

I recommend watching the youtube videos about Perth Mint possibly suspect. Their company reporting balance sheet has been analysed as possibly suspect and may be doing some tricky fractional reserve game. As always do your own research.
WA Premier Mark McGowan is locking down the state so taking physical delivery could be a problem.

Thanks. I've seen those videos. I'm waiting for Perth Mint's latest financial report...it should be out soon.

 

[johndoes84]

Thanks. I've seen those videos. I'm waiting for Perth Mint's latest financial report...it should be out soon.

Not trying to slight on Perth Mint just seen a few of those vids from people smarter than me. Could be something, could be nothing but worth a look. cheers.

 

[fatcat1970]

Not trying to slight on Perth Mint just seen a few of those vids from people smarter than me. Could be something, could be nothing but worth a look. cheers.

What Perth Mint did is something serious; if all their clients with allocated and non-allocated gold/silver had wanted their metal on the 30/6/2020, the Mint would have been short of gold/silver or cash by $A90M. They have since sold the ETF they owned so maybe they have corrected this; we will know in a few weeks.

 

[fatcat1970]

Follow up video to the Perth Mint saga: