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Introducing Western Australian Backed: The Perth Mint for Your Precious Metals IRA
Established in 1899, The Perth Mint stands as a premier Australian institution renowned for its expertise in precious metals refining and minting. Nestled in the vibrant city of Perth, Western Australia, The Perth Mint has played a pivotal role in the region's rich gold mining history.
Initially founded as a branch of Britain's Royal Mint, it quickly evolved into an independent entity under the ownership of the Government of Western Australia. This government backing ensures the highest level of trust and reliability for investors seeking to preserve their retirement portfolios through the acquisition of gold and silver.
Today, The Perth Mint remains at the forefront of the global bullion industry, offering an array of IRA-eligible coins and bars that cater to the needs of astute investors looking to safeguard their wealth for the future.
Understanding IRA-Required Government-Backed Metals and Fineness
As a level of protection for investors starting a self-directed gold or silver IRA, the IRS has specific requirements for qualified physical metals that can be purchased and held with an investor's IRA. Check out our blog article on the U.S. Mint and see what they can provide for your IRA.
Approved IRA Coins Must Include:
- Produced by a National Government Mint or private refiner, assayer, or manufacturer that is accredited/certified by: NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 9000
- Must Meet Minimum Fineness Requirements - see below
- Non-proof (Bullion) coins MUST BE in brilliant uncirculated condition and free from damage
- Proof Coins cannot be graded. They are required to be in original packaging and have a certificate of authenticity.
Fineness Requirements Physical Gold and Silver IRA Approval:
- Gold Requirement: 99.5% or .9950 Fine Gold
- Silver Requirement: 99.9% or .9990 Fine Silver
- Platinum Requirement: 99.95% or .9995 Fine Platinum
- Palladium Requirement: 99.95% or .9995 Fine Palladium
** Note for investors: there is only one exception to the gold requirement. The American Gold Eagle Coin 91.67% pure is allowed to be purchased for a Gold IRA.
What Are The Perth Mint Gold & Silver Products
Yes, The Perth Mint is a producer of gold and silver coins, proofs, and bars. But they are so much more. The Perth Mint also produces collector coins, jewelry, and gifts. In addition, they are a secured storage facility for investors to store their metals and they even have an investors app for those looking to buy paper gold can purchase and invest.
The collector coin market is for those looking to invest in unique gold and silver products outside of their retirement IRA accounts. Here are a few of the current collector coins being offered:
Jewellery and Gifts:
Taking their knowledge of fine-grade coins, The Perth Mint offers unique offerings for jewelry and other gifts. See below for what else The Perth offers.
GoldPass Trading App:
Investor update from The Perth Mint GoldPass. Check out more information by clicking here!
The Gold Pass trading app was created by The Perth Mint for those investors looking to purchase and sell gold shares. Investors never took possession of the metals and only owned allocations of gold within their accounts.
The GoldPass trading app is being discontinued. No new customers are being accepted. Current holders can continue to use the app but The Perth Mint is discontinuing because this application for purchasing metals does not fit their business strategy.
Gold IRA Bullion and Proofs:
While The Perth Mint offers a variety of options for investors, collectors, and even individuals looking for the right gift, The Perth Mint, for investors, offers a selection of gold and silver coins and bars in their shop for purchase. Bullion coins are known to be the best value for investors. Proof coins are more directly related to collectors as their value includes not only the metals but also the extreme details of the coins and their authenticity and packaging create a premium to the coins.
Bullion, in the context of IRA gold, refers to investment-grade precious metal bars or coins that meet specific purity and quality standards. When considering gold for an Individual Retirement Account (IRA), bullion is a popular choice for investors seeking to add physical gold to their retirement portfolio. These bullion products are typically produced by recognized mints or refineries, such as The Perth Mint, and are valued primarily for their metal content rather than their rarity or numismatic appeal. Bullion offers a tangible and easily tradable form of gold ownership, making it a suitable option for investors looking to diversify their retirement assets and protect against market uncertainties.
If you are looking to buy or sell your gold, The Perth Mint is a viable source as they purchase jewelry, Perth Mint branded gold, silver, platinum, and palladium coins and medallions. Sell your Gold and silver legal tender coins, ingots, and natural gold nuggets to the Perth Mint.
IRA Approved Coins:
Here are a few of the IRA Approved Coins produced by The Perth Mint found on Goldco's and Birch Gold Groups' websites. When investing within your IRA make sure you are using qualified mints and metals. Working with an experienced Gold IRA company will help provide the right information for your investments.
Australian Spotted Eagle Ray - 1.5 oz of pure 99.99% silver - face value $2(AUD)
Silver American Bald Eagle - 2.0 oz of pure .9999 silver - face value $2(TVD)
Silver Australian Spotted Eagle Ray - 1.5 oz pure .9999 fine - face value $2(AUD)
Silver Australian Striped Marlin - 1.5 oz pure .9999 fine $2(AUD)
Silver Australian Sea Turtle - 1oz purchase 99.99% $2 (AUD)
Silver Great Barrier Reef - 2oz purity .9999 fine $2 (AUD)
Silver Phoenix - 2oz purity 99.99% face value $2 (USD)
Silver Australian Saltwater Crocodile - 0.5oz pure .9999 fine silver $0.50 (AUD)
Silver World War I - 2oz pure .9999 fine silver $2 (TVD)
Silver World War II - 2 oz pure .9999 fine silver $2 (AUD)
Silver Australian Florin - 2 oz pure .9999 fine silver $2 (AUD) (only Birch Gold Group)
Gold Australian Striped Marlin - 2020; 1/4 oz of 99.9% gold purity .9999 fine $25(AUD)
Gold Australian Sea Turtle - 1/4 oz of 99.99% pure gold $25 (AUD)
Gold American Bald Eagle - 1/4oz of .9999 pure gold $25 (TVD)
Gold Australian Saltwater Crocodile - 1/4oz of pure .9999 fine gold $25 (AUD)
Gold Florin (commemorative coin) - 1/4oz of pure .9999 fine gold (exclusive Birch Gold Group)
** Investor Note: When investing in precious metals make sure you understand the difference between investing in bullion metals and collector metals. There are a variety of different metal coin options, but not all will be allowed in your SDIRA. In addition, any coins that are considered exclusive to one Gold Dealer should be cautiously purchased but understood completely before buying. Buying an "exclusive" item may indicate a smaller buyer's market when you go to sell. It could also mean a HUGE premium being attached to the coins or bars. As an investor, please make sure you understand Spot Prices and Premiums for metals.
The Perth Mint in the News
In recent months The Perth Mint has been under scrutiny and investigation for both gold dilution and money laundering. The London Bullion Market Association launch a review of metals sold having less than the required purity. You can see more on this topic here in this article.
In a quick overview, the LBMA's investigation surrounded the allegations that the mint did not perform to the Responsible Gold Guidance standards. After conversations and investigation, The Perth Mint stayed good for delivery list refiners. There is some backlash to the government and management for non-conforming and will continue to require stronger risk management.
A second article was also found indicating The Perth Mint purchased raw gold from Papua New Guinea miners and one particular miner who has been convicted of killing an employee. This article by Hamish Hastie, June 12, 2020, titled: "Perth Mint to review audit processes after conflict gold reports" indicates Papau New Guinea miners have long been criticized for using child labor and mercury.
Tour the Perth Mint While Visiting Australia
If you are heading to Australia, or currently live in the country, Book a 60-minute tour of the Perth Mint. Check out these attractions at the mint:
- Take The Perth Mint Gold Tour (book your tour ahead of travel)
- See the One-tonne gold coin - The world's largest gold bullion coin at the Gold Exhibit
- See live gold pour - pour is in the original 1899 melting house
- Gold exhibition and nuggets
- Engrave your own medallion
- Guided heritage walk
- The Perth Mint Shop - buy and sell your jewelry and precious metals
Final Thoughts on The Perth Mint
The Perth Mint emerges as a compelling option for investors seeking to include gold and silver in their self-directed Individual Retirement Accounts (IRAs). With a rich history dating back to its establishment in 1899 and the unwavering support of the Government of Western Australia, The Perth Mint has earned a reputation for excellence and integrity in the global precious metals industry. Its wide range of bullion products, including coins and bars, meet the stringent standards required for IRA eligibility, offering investors a tangible and reliable option for asset preservation within their retirement portfolios.
While The Perth Mint's coins and bars undoubtedly hold considerable appeal, it is prudent for owners of self-directed IRAs to consider all qualified government mint coins when making their investment choices. Additionally, given the potential future need to sell coins from an IRA, investors should carefully assess the liquidity and market demand of different bullion options. In this regard, U.S. Minted bullion coins may present advantages due to their widespread recognition and popularity among domestic buyers.
Nonetheless, The Perth Mint's offerings remain a compelling choice for IRA investors looking for a diverse range of high-quality precious metal products. Their commitment to excellence, backed by government support, underscores the trustworthiness and viability of including The Perth Mint's coins and bars within an IRA. By carefully considering their investment goals and consulting with reputable precious metals advisors, investors can confidently navigate the selection process and make informed decisions that align with their long-term financial objectives.
Check out The Perth Mint Australia for more information.
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