Perth Mint under investigation for Financial Crimes
One of the world's most prestigious precious metals Mint is the Perth mint located in Western Australia in the beautiful coastal town Perth.
Perth isn't known for much other than its beautiful coastal beaches, easy going life style, its vast land mass and it's strong mining sector which is the backbone of Australia's export industry.
Perth is also home to one of the most magical places on Earth which is known as the stair way to heaven. It's when the moon casts its reflection onto the sea in what looks to be stairs.
There are also some of the oldest fossils known to man kind in ended in the rock along many of Perth Beaches. It's a wonderful place to visit.
Perth is also home to one of the world's best precious metals Mint, the Perth mint which commenced operation in 1899 as one of the official branches of the UK Royal mints It was one of 3 in Australia but Melbourne Mint and Sydney mint have since not been as successful and have need privatised with the Royal Australian Mint not being the official federal mint in Australia.
But what makes the Perth Mint unique is that it hasn't been privatised and is part owned by the Western Australian Government so the gold it sells is backed and enforced by the West Australian Government making it a safe haven for many precious metals stickers and ensuring that the products produced are 100% gold standard.
Perth Mint does work with the Royal Australian Mint and has permission to issue bullion and gold currency depicting the Queen and soon King Charles III. It also produced a large range of other Australian legal tender which makes it a wonderful place to purchase gold, silver and other metals from.
They also provide a range of security services or pooled gold which is audited and ensured they are being honest with their investors.
However the Perth Mint has drawn the attention of the AUSTRAC which ensures compliance with global trading laws the issue is over some of its tradings as they believe the Perth Mint has breached global anti money laundering and financing terrorism laws.
So what's it all about?
The Australian Financial Review provided multiple reports that the Perth Mint was purchasing gold from an International warlord that was committing mass murder.
Being part owned by the Western Australian Government I highly doubt there will be much action or care as you may recall Perth recently blew up tens of thousand year old caves with ancient art and human history and it didn't even spur an "I'm sorry".
What's it mean for investors? Most likely nothing and their investments will be safe as even if their is an at fault finding the government will bail them out.
But still some worth knowing information.
Keep Stacking everyone!
I have ordered a few more silver coins which I can't wait to share with you all and I am looking forward to the first mint King Charles III sovereigns as I Believe they will be worth quite a bit in the future. What are your thoughts?
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Oh goodness!!!
Looking forward to your King Charles II, @melbourneswest!
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I would not mind picking up the new coins in the first year, keep us posted on them please!
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This won't stop me buying Perth Mint products, first year Chuck IIIs will be a hot buy along with low bullion prices.
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Yup I agree. Great to hold onto and he won't be around as long as the Queen so definitely some price value for the future.
Yup, you get what you pay for. If you're a warlord gathering plunder, the only people with a large enough demand is a MINT - warlord "mine" more metals from the people than miners do.
I don't think it really affects anything so I wouldn't worry. After all, so long as they aren't skimping out on the quality of the coins and nothing has mentioned that they have done so.
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Correct. The quality is by far one of the best on the planet. So fortunate enough to have one so close that I can make a purchase and have the item in my vault within 2 - 3 business days
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These are lovely coin worth adding to collection
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