What are Perth mint Silver Certificates?
If you are looking at various ways to invest in silver then you might be asking ‘what are Perth Mint silver certificates?’
Perth Mint Silver certificates are issued by The Perth Mint. The global leader in the precious metals industry runs the Perth Mint Certificate Program (PMCP).
Investors can buy certificates for both allocated and unallocated silver. The Perth Mint Certificate Program issues owners with certificates that indicate legal ownership. Every certificate is 100% fully backed. No storage fees are charged for unallocated silver certificates.
The PMCP is the only certificate program in the world that is government guaranteed. Every ounce of silver in the PMCP is insured, giving you peace of mind that your silver investments are safe and protected.
GoldCore is one of very few Authorised Distributors of the PCMP and the only one in the UK and EU. Please contact us today or create an account, to add either allocated or unallocated Perth Mint silver certificates to your portfolio.
Perth Mint Silver bars
The Perth Mint Certificate Program offers precious metals ownership and storage on both an allocated and unallocated basis.
Should you wish to own only Perth Mint silver bars then you might prefer to buy a Perth Mint Certificate for allocated silver. Investing in allocated silver via the Perth Mint Certificate Program means that you are buying silver that is fabricated in the form of silver cast bullion bars. You will have legal title over these bars and they will be stored and segregated within the vaults of the Perth Mint.
You can own Perth Mint silver bars if you buy a unique certificate for unallocated silver, however as these certificates are backed by the silver in the Perth Mint’s working and display inventories you will not have legal title over specific bars. This is because the working and display inventory is made up of all silver used in the refining and manufacturing processes as well as any exhibition items. So this includes coins and other physical silver items as well as bars.
Perth Mint Certificates for both allocated and unallocated silver are 100% backed by physical silver and backed by an S&P AA+ rated government guarantee. The advantage to holding unallocated silver is that you are not required to pay any storage fees, making it a very cost-effective way to own silver.
Perth Mint Silver Coins
When you buy a Perth Mint Certificate for unallocated silver then you are buying into The Perth Mint’s pool of silver that sits in an unsegregated account. This means that your pool may contain Perth Mint silver coins as well as bars and any other silver inventory that Gold Corporation may use in its operations.
When you buy a Perth Mint Certificate for unallocated silver holdings you are only investing in physical silver and it is fully insured under the unique government guarantee.
One major advantage of owning a unique Perth Mint unallocated silver certificate is that there are no storage fees, so you have all of the benefits of owning physical silver with the Perth Mint but for a lower fee, making it extremely cost effective.
You can also buy Perth Mint silver coins from GoldCore.com. Find out more here.
Are Perth Mint Silver Worth Buying?
If you have googled ‘Are Perth Mint Silver worth buying’ then it is fair to assume that you had thought of Perth Mint Silver as a company in which you can buy shares, perhaps like a mining company. However this is not the case at all.
When you buy unallocated or allocated silver certificates from The Perth Mint then you are buying physical metal. With every trade made you are given a uniquely numbered certificate which gives you legal title to either a specific bar or specific amount of silver (depending on allocated or unallocated).
GoldCore clients certainly think Perth Mint Silver is worth buying. The unallocated silver Perth Mint Certificate Program is particularly popular.
The unallocated option is a great way to own silver as not only is it a more affordable option to the allocated silver Perth Mint Certificates, but it still brings the same benefits to a balanced portfolio.
Is Perth mint silver CGT free?
It is more than often the case that you pay Capital Gains Tax (CGT) on any investments that are not considered to be legal tender. For example, in the UK you do not pay CGT on silver coins produced by The Royal Mint. However you must pay it on any gains made on silver bars and coins produced elsewhere.
Capital Gains Tax is only payable when you sell the investment. You do not pay tax on the whole sale, instead just on any gains made. Some countries have a CGT allowance which means you only pay tax above a certain amount of profit made. Very often you can offset gains against losses. In some countries spouses can pool allowances, and you can roll losses across years to maximise your gains.
Capital Gains Tax rules are unique to each country so we recommend that investors carry out their own research and speak to a professional tax advisor when it comes to their individual investments. This information is here for guidance only.
Unallocated Perth Mint Silver
Unallocated Perth Mint Silver certificates are extremely popular with GoldCore clients. They bring all the benefits of the Allocated Perth Mint Silver certificates but without the storage fees which makes them a lot more economical to hold.
No storage fees are charged because the unallocated silver Perth Mint certificate is backed by the silver used by The Perth Mint in its working and display inventories, as well as the silver used in the fabrication and refining processes. You will receive a unique certificate for your unallocated silver.
However, if you do decide later down the line that you would rather have legal title to a specific piece of silver rather than an amount of silver then you are able to convert your holdings from unallocated to allocated, for a fee.
All unallocated silver Perth Mint Certificates are 100% backed by physical silver.
Allocated Perth Mint Silver
Allocated Perth Mint Silver certificates are chosen by investors who take comfort knowing that their fabricated silver bars are sat in segregated vaults and can be inspected at any time.
If you own an allocated silver Perth Mint Certificate then you will receive a unique certificate that gives you legal title to a specific silver bar. Unlike unallocated silver Perth Mint Certificates a fabrication fee is payable when you purchase your certificate.
The Perth Mint acts as custodian of your silver whilst it is stored in their vaults, so a storage fee is charged by them for this. The storage fee of 1.9% is not payable on any unallocated certificates.
How to start investing in Perth Mint Silver
As one of the few Approved Dealers of Perth Mint Certificates, and the only trusted distributor in the UK and EU, GoldCore makes it very straightforward for clients to start investing in silver Perth Mint Certificates.
To start in investing in Perth Mint Certificates simply open an account with GoldCore and follow the instructions. You will then be prompted to fund your account, and once funded you will be able to start investing in Perth Mint Certificates.