The Perth Mint is a gold and silver refinery in Perth, Western Australia. The site was originally built as a franchise of the Royal Mint, following the discovery of gold in Australia. Sydney and Melbourne both had plants built and, in 1899, Perth opened its doors.
The company is the official mint for Australia nowadays, producing bullion bars and coins in a range of precious metals for investment and banking purposes for them but also for the global markets, as well as boasting a retail arm of collectable coins.
Perth Mint Bullion:
We stock Perth Mint coins, available in a wide range of sizes from 1/10th of an ounce all the way up
to 1kg. The Perth Mint produces a number of popular ranges including the Nugget, Kookaburra,
Lunar New Year and Rectangular coins. All of the bullion produced by the Perth Mint is approved by
the London Bullion Market Association (see the quality section below).
The History of the Perth Mint:
The Perth Mint was established in 1899, after three years of building work to make the large-scale refinery. The Royal Mint wanted to take advantage of Australia’s discovery of gold to reduce production costs of gold coins across the British Empire and later the Commonwealth.
By 1931 the Perth Mint had produced over 106 million gold sovereigns and over 735,000 half sovereigns for the worldwide market. Britain at this point abandoned the gold standard in favour of primarily using fiat currency, which led the Perth Mint to producing bullion bars as an additional option.
On July 1st, 1970, a deal was struck as part of the Commonwealth that the Perth Mint would become
property of the Government of Western Australia. In this capacity it would go on to produce gold and
silver coins and bars for the Australian treasury, as well as for commercial and retail sales.
The Perth Mint holds the record, since 2011, for the world’s largest, heaviest, and most valuable gold
coin. It surpassed the records set by the Royal Canadian Mint to produce a 31-inch diameter coin,
which is 4.7 inches thick and weighs just over a tonne. The coin’s face value is $1 million AUD, but in
reality, the metal involved is worth $53.5 million.
Perth Mint Quality:
The Perth Mint has easily accessed documents on their website detailing their annual approval by the London Bullion Market Association (LBMA) since 2013. It is this LBMA standard that we use to determine which refiners to deal with at BullionByPost. The LBMA is an exemplary gatekeeper of fine bullion production, so you know that their approval of a refiner such as the Perth Mint means that you, the customer, are getting the best possible precious metal investment.
You can see our parent company, Jewellery Quarter Bullion Ltd, listed as an authorised distributor of Perth Mint products .
Perth Mint Cryptocurrency:
The Perth Mint announced plans to enter the cryptocurrency market early in 2018, with its selling
point being that it will be backed by physical gold. Little is known about the plan due to confidentiality
agreements, but the company is looking to use its reputation and the safety of precious metal investment
to offer an alternative to the volatility of standard cryptocurrencies such as Bitcoin and Etherium.