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What are Silver Certificates?

The Perth Mint Certificate Program is the only government-guaranteed precious metals certificate program in the world. 

This means that all of the gold, silver and platinum certificates sold as part of the PCMP are 100% backed by the precious metals held within the secure facility of The Perth Mint and is guaranteed by the Government of Western Australia. 

The Perth Mint has been operating since 1899. It has established itself as one of the most respected mints in the world and is used by individuals and central banks, alike. 

Currently the Perth Mint refines and fabricates around 500 tonnes of precious metals, each year. This includes over 10% of the total gold mined, per annum. The refinery is accredited by the five major bullion exchanges and over 70,000 clients choose to store their precious metals within the high security storage facility. 

The Perth Mint has offered investors the opportunity to hold precious metals in the secure storage facility with The Perth Mint Certificate Program for many years. GoldCore has been a preferred distributor for the PCMP since 2005.

The Perth Mint Certificate Program offers investors in Ireland a unique range of precious metal (silver, gold, and platinum) storage facilities at highly competitive rates. The Perth Mint’s facilities are especially suitable for private investors seeking confidentiality and flexibility and a safe haven for their assets.

The Perth Mint is the only depository operating today that can offer investors in Ireland a Government Guarantee of one of Australia’s wealthiest states.

Are Silver Certificates a Good Investment?

People choose to invest in silver because it is a precious metal which not only acts as a hedge against inflation and economic uncertainties but it also has a dominant role as an industrial metal. This means that in both good and bad times it can make for a useful investment to hold as part of a balanced portfolio. 

Over 50% of the silver supply is used in industrial applications. It is intrinsic to the success and growth of the technological space. To paraphrase the Silver Institute, if an item has an on/off button then it almost certainly has silver in it. 

Most people will be familiar with silver’s role in photography and although this now accounts for less usage than it once did, the slack has more than been picked up by new industries namely renewables and battery-powered vehicles. 

The silver space is certainly one to watch in the coming years. So crucial is it to society that there is little flexibility for industrial demand to decline, setting the scene for a physical silver shortage in the near-future. 

So if you are going to invest in physical silver, why do silver certificates make sense?

Here at GoldCore we are happy to be the EU and UK’s only approved distributor of the Perth Mint Certificate Program (PCMP). 

The PCMP allows investors to hold physical silver in their portfolio either on an allocated or unallocated basis. When you purchase a certificate from The Perth Mint you will receive the unique certificate that shows you hold legal title over a specific amount or bar of silver. 

There are two options when you come to own silver certificates:

  • Allocated silver Perth Mint Certificates
  • Unallocated silver Perth Mint Certificates 

Both options will provide you the same benefits that come with owning physical silver, through the Perth Mint. They are both excellent investment options given they are part of the same Perth Mint Certificate Program that is 100% backed by the Government of Western Australia and audited on a regular basis by the Western Australia State Auditor General. 

The key differences between the two certificates are as follows:

  1. Backed by 

Allocated - When you own an allocated silver certificate, it is backed by specific cast bars to which you hold legal title.

Unallocated - When you own an unallocated silver certificate, you hold legal title to an amount of silver which is 100% backed by the silver inventory of The Perth Mint. This is an undivided interest in silver held by The Perth Mint for use in their working and display inventories. 

  1. Storage fees 

Allocated - Cast silver bars to which you hold legal title is segregated and stored within The Perth Mint’s high security storage facility. This means that storage fees must be paid on your holdings. 

Unallocated - No storage fees are charged when you buy unallocated silver. This is because the silver that backs the certificate exists in The Perth Mint’s working and display inventories. You own an amount of silver in an undivided pool, as an owner in common along with other clients participating in the same pool.

  1. Fabrication fees

Allocated - Clients must pay a fabrication fee when they buy allocated silver Perth Mint Certificates. This is because the unique certificate shows you are the legal owner of a specific bar (or bars) of silver. These bars are cast silver bullion bars and therefore a fee is charged for the fabrication process. 

Unallocated - When you buy an unallocated silver certificate you do not hold legal title over a silver cast bar, instead you hold legal title over a specific amount of silver in an undivided pool. This pool is the inventory of The Perth Mint for both refining and display purposes. 

Where to buy silver certificates in Ireland?

GoldCore has been an authorised dealer for The Perth Mint Certificate Program since 2005. 

It is very straightforward to buy a Perth Mint Certificate, using the highly-rated GoldCore platform. You simply need to provide ID documents and fill in an application form, to get started. 

  1. Open an account
  2. Upload your personal identification documents
  3. Await your application form and when ready email it back to us. 

When you buy allocated or unallocated Silver through the Perth Mint Certificate Program, you will be issued a unique Precious Metal Certificate in your name. This certificate, as issued by The Perth Mint will detail the specific number of ounces of silver owned and that is stored on your behalf, by The Perth Mint. 

Every certificate has a unique certificate number and is a legal document that is your certificate of ownership.