Anyone have experience with these? I was thinking this could be a great thing to have if I decide to bug out of the United States. Try getting on a plane with a bunch of coins. My question is is how easy would it be to liquidate one in some Carribean country.
I don't have a certificate. I am thinking about buying some. Here is the official site http://www.perthmint.com.au/investment_certificate.aspx
Per their FAQ: How difficult is the Perth Mint Certificate to liquidate? The Perth Mint Certificate is extremely easy to liquidate. The owner can simply sell the Certificate back to an Approved Dealer. Alternatively, the owner can take physical delivery at the Perth Mint or arrange for physical delivery at a variety So it would be easy if there is an approved dealer on the island you go to. I guess a little research to find an authorized dealer before you leave would be required. Personally I don't like the idea of not being able to control the storage of my precious metals, but this does seem like it could be very convenient. EDIT: looks like the closest authorized deal is in Panama http://www.perthmint.com.au/investment_certificate_approved_dealers.aspx
I did a little research and it looks like Kitco processes transactions by mail. Kitco is in Canada so it keeps me from having to worry about the US getting their hands on it. Now I have to figure out if I can put IRA money into a certificate. If I can do that I am golden, literally! If I get out of the US and get citizenship somewhere else I can get all my money free and clear. Goodbye Welfare State!
A lot of questions have arisen recently about unallocated storage accounts around the world. Buyer beware.
Yes, the only place "invest" comes before "investigate" is in the dictionary. The Perth Mint has a government guarantee behind it, from a government with a AAA rating. For people who buy gold because they don't trust governments and rating agencies, that won't mean much. What does provide concrete reassurance is that at least we know for certain that the Perth Mint does have gold. They couldn't make coins and bars otherwise. So the thing to investigate is whether the total of certificates issued is supported by their working inventory. Another issue: if you're hedging against a Collapse, are the authorized dealers still going to be in business to liquidate your certificates?
The article below has some links to companies that can help you with offshore gold in your IRA, including Perth mint certificates. Unless you have a Roth IRA however, you are going to have to pay US taxes on the IRA when you take your distributions, no matter where you live or have citizenship. People who don't want to pay the taxes later can pay them now by converting to a Roth IRA. Not investment advice! Do your own diligence etc. As for getting on a plane with a bunch of coins, there is a poster on Kitco forums who is actually planning to do this when he emigrates to Australia. Not that I'm necessarily recommending this, and the customs laws are pretty complicated, but it's not impossible. https://www.kitcomm.com/showthread.php?t=59352 http://www.gold-speculator.com/gold-investing-101/5775-sending-your-ira-gold-overseas-vacation.html
No offense, as I do not like a wellfare state system any better! But... ahem... do you think an island somewhere is going to let you jsut move in, get citizenship, ect.. without paying a substantial sum? Canada is just a big a wellfare state, and Australia is not much better. No matter where you go, you are going to get taxed on your riches.. one way or the other. If we're talking total collapse here, do you honestly think anywhere else is going to be better?
as another gold investor put it to me a paper certificate is worth exactly the same amount of paper that it is written on. getting coins and other things out might be more difficult but in reality you know for a fact that you have them there. a certificate is nothing more than a piece of paper that says someone owes you something. if what you are planning for happens there are much bigger people in line a head of you waiting to cash in. most of those types of places do not hold enough gold to back all of their certificates they hand out. you are risking a lot putting faith into a certificate.
Absolutely! Even in a collapse there are pockets of prosperity where the wealthy go to ride out the storm. It just isn't obvious where those places are without making a special study of it [which I haven't done]. It seems highly probable that Switzerland will be one. The Mediterranean coast of France another. If you have enough wealth to make it worthwhile to move to protect it, now would be a good time to start planning.
