Perth Mint Certificates - A customer Story
CelticGold comment: The below email was send from a customer to us this week. He describes the process of redeeming his gold and silver certificates held with Perth Mint. We published an article in February 2013 about Perth Mint Certificates and classified them as a scam.
Please read the article by clicking here.
The below email confirms what has been researched a long time ago. If you own physical gold and silver you hold the highest valuable form of money in your hands - 5,000 years of monetary history teach us this lesson over and over again.
There's no need to have outside rating agencies such as Standard & Poors rating gold as AAA. Actually Standard & Poors has rated Perth Mint Certificates with a triple A rating, obvioulsy not knowing the hints in their Terms and Conditions. Considering that complex debt certificates were rated AAA in 2008 this is not without a sense of irony.
Gold is gold; own it only physical and remove third parties from owning and holding your assets.
Stefan, Here are my thoughts and experiences with Perth Mint Certificates (PMC) of Australia, via Asset Strategies International (ASI) of the USA:
1.- promised easy acquisition and liquidation of precious metals.
2.- Buying the certificates was relatively easy, but liquidation has been anything, but easy. I started the liquidation process on 11 Sept. 2013. It is now Nov.3rd and I still don’t have my money. I have sent them my certificates endorsed by myself and my wife, the owners of the Certificates, with a notary's endorsement. Then I was asked, weeks later, to send them a certified letter stating that we, in fact, wanted to liquidate our holdings. Although that letter was sent certified by DHL mail to ‘ASI’, but they claimed they never got it, so we had to resend the letter. This took more than two weeks to be received by ‘ASI’, to whom they were sent. Supposedly these documents had to be mailed to ‘PMC’ in Australia by ‘ASI’. Since Australia is thousands of miles and a 24 hour time change from the USA this took more time. Then there was the claim that ‘PMC’ only accepted liquidation of claims on a Friday for processing the next week. All of this, as one can see has eaten up time.
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