Terms and conditions for purchase of bullion
1. Application
These terms and conditions (Terms) apply to physical bullion purchased by any of the following means:
- online at the website perthmint.com (Website) by selecting the ‘I accept the Terms and Conditions’ check box and the ‘Submit Order’ button;
- by telephone:
- over-the-counter at The Perth Mint,
each a Purchase Method by a customer (Customer, “you”, “your”) for the purpose of these Terms.
2. Bullion purchase
Pursuant to these Terms, Gold Corporation (ABN 98 838 298 431) of 310 Hay Street, East Perth, WA, 6004, a statutory authority of the Government of Western Australia established under the Gold Corporation Act 1987, trading as “The Perth Mint” (The Perth Mint, “we”, “us”, “our”) agrees to purchase bullion on your behalf and at the price fixed at the time you place an order with us using a Purchase Method.
3. Binding contract
- Upon placing a buy order for bullion using a Purchase Method:
- the price of the order is agreed; and
- a binding contract exists between you and us for the purchase of the bullion.
- In the event that items other than bullion products are added to your order these Terms will apply to the whole order.
- You assume all risk of price movement following your purchase of bullion.
- Upon receipt of your order, we will issue you with an email “Order Received” notification confirming receipt of your order, which will include:
- your order reference number;
- order date;
- the list of items ordered and their prices;
- the total of all product and shipping and insurance charges; and
- your selected Payment Method.
This email is a notification that we have received your order, not a confirmation of acceptance of processing the order. Once the order is successfully processed you will receive an “Order Confirmation” email. This email. will include a Payment Request in the form of a PDF attachment, which will outline all of the information above including the delivery address and our bank account details for making payment. This will not include overseas customs duties, foreign taxes, additional clearance fees that may be imposed or bank fees which are solely for your account.
- You must advise us immediately if any details in the Order and Contract Confirmation form are incorrect.
- You acknowledge that the year-date on bullion described on the Website does not necessarily indicate the year of release or the year the bullion was minted.
4. Payment
- You must make full payment to us within two business days of placing an order. Our receipt of your payment is subject to the clearing time applicable to the corresponding payment methods listed in our FAQs.
- Your failure to pay for an order in time will result in cancellation of the contract and recovery of all costs from you in accordance with clause 12.
- A maximum of AUD 70,000 worth of bullion may be ordered using the online system. Orders over AUD 70,000 must be made via telephone or in person at The Perth Mint Shop.
- A 15% deposit in cleared funds must be provided prior to placing an order greater than AUD 100,000.
- Full payment in cleared funds must be provided prior to placing an order greater than AUD 2,000,000.
- All payments must originate from your bank account displaying the same name as your bullion account with us.
- We will not deliver any bullion until full payment has been received from you in cleared funds.
5. Payment methods and clearing time
For a list of payment methods and clearing times please see our FAQs page.
Payment notes:
- The Sales Order number must be quoted as a reference when transferring funds so we can identify your payment and ensure that your funds are allocated correctly.
- You agree that we are not liable for any delays in receipt of your funds into your bank account or if insufficient details have been provided to identity the party responsible for the payment.
6. Customer identification
6.1 Provision of customer identification documents
- The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) requires us to appropriately identify customers with orders of AUD 5,000 or more. However, if you place an order with us for AUD 2,000 or more or would like to process multiple small orders exceeding the AUD 2,000, you must provide appropriate certified or notarised ID when setting up your account.
- Regardless of the value of the transaction, we reserve the right to request appropriate identification documents (ID) for the sale of bullion products to Customers using any Purchase Method prior to the completion of the purchase.
- Any identification documents provided to us under this clause must comply with the requirements set out on the Customer Identification Documents page published on the Website.
- We reserve the right to request additional customer ID, at our absolute discretion.
- Copies of certified ID including the certifier’s original signature must be emailed to:
The Perth Mint
Please note: Do not send your original identification documents to us.
6.2 Authorisation
- By voluntarily providing your ID to us, you confirm that:
- you are authorised to do so to enable us to verify your identity; and
- you consent to us disclosing your personal information to a third-party service provider for the purposes of verifying your identity and complying with our obligations under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) or other applicable laws and regulations.
- You consent to any third-party service provider engaged by us accessing and using personal information about you held by government and other authorities.
- Alternative means of verifying your identity are available on request.
- If we are unable to verify your identity using the information provided by you, we will provide you with notice to this effect and give you the opportunity to verify your identity using an alternative method acceptable to us.
- We will keep full and proper records of all disclosures, confirmations and consents connected with your personal information
7. Pricing
- All prices quoted on the Website and in store at The Perth Mint are updated only during The Perth Mint business hours from Monday to Friday (excluding Western Australian public holidays).
- The prices quoted on the Website and in store at The Perth Mint are only indications of our retail prices and are not firm commitments to buy or sell at the indicated price.
- For orders placed through the Website, we will confirm the price at the time the ‘Pay and Place Order’ button is selected.
- We do not assume any liability for any loss suffered as a result of any action of any kind taken by any person based on this pricing information and we reserve the right to decline any trade involving, without limitation, pricing or inventory errors caused by computer errors or malfunctions. Combined per unit prices quoted are made up of the bullion content at the prevailing Perth Mint spot price plus manufacturing premium. The applicable bullion price is noted on the Order and Contract Confirmation form.
- As bullion is purchased on the Customer’s behalf on placement of an order, fixing of the metal price in advance of payment is offered as a service to buyers on condition that these Terms are complied with. We reserve the right to require full or part payment prior to fixing the price, as we see fit.
8. Goods and services tax (GST)
GST is not levied on bullion sold in Australia or overseas. However, Australian domestic sales incur GST on freight and insurance. Overseas sales only incur GST if the bullion is not exported within 60 days of the order.
9. Shipments and deliveries
This clause is subject to the COVID-19 Delivery Updates published on our website which can be viewed here.
9.1 General
- For shipping purposes, the packed weight of a bullion order is estimated as the product weight plus 20% for packaging. We do not agree to provide any refund if the freight is lower than the estimated rate.
- Failure to provide a business name and address at the time of order may result in a delay in your order being processed or being delivered to and held at a carrier’s location for collection, which may not necessarily be convenient to you. If a business address cannot be provided contact Customer Care team:
- Home-based businesses in residential areas do not constitute a business address for this type of delivery.
- If you nominate a representative to accept delivery on your behalf, the representative's full name and telephone number must be provided to us in writing in advance of the delivery date. The nominated representative must also provide photographic identification to receive the delivery.
- We reserve the right to change our choice of carrier without notice.
- Acceptance of delivery by any person at the nominated delivery address will be deemed as completed delivery.
- Any claim for non-delivery or lost bullion orders must be made within a reasonable time and will be assessed on a case by case basis and will be investigated as deemed appropriate by The Perth Mint.
9.2 Australian shipments and deliveries
- Shipments under AUD 70,000 are delivered by general carriers and delivered to most Australian addresses, including residential and business addresses. Some remote locations may require collection from the nearest depot.
- Delivery normally takes place within 1-3 days of dispatch, however it may take longer. If you or your nominated representative cannot receive the parcel, the carrier will provide information on how you will be able to collect the parcel.
9.3 Australian shipments over AUD 70,000
- Shipments over AUD 70,000 are arranged on a case-by-case basis. Our Online Orders Customer Care team will liaise with you to determine the requirements for each shipment and provide a specific quote and shipping details. The carrier will contact you to arrange collection or delivery and they will outline the details they need in order to release the parcel to you.
- Shipments over AUD 70,000 can only be delivered to verified business addresses or collected from carriers’ depots subject to prior approval. You or the person you have nominated to receive the order will be required to present photographic ID (passport or driver's licence) on delivery or collection.
- Carriers reserve the right to decline a delivery if the delivery address is deemed to be in a high-risk area.
9.4 International shipments and deliveries
- Shipments under AUD 30,000 are delivered by general carrier to most overseas addresses.
- Shipments to some regions are subject to maximum value limits, see our FAQs page for more details.
- If no person is available to receive your bullion, a card with contact details will be left for you to arrange a re-delivery or collection of the item within 7 days. If no action is taken after this period, the bullion may be returned to us and it will incur return freight fees and other government charges, which you agree to pay. Additional fees will be incurred for a new delivery.
- Shipping to certain international destinations shall be contingent on arrangements made between us and our preferred service provider for that region.
9.5 International shipments over AUD 30,000
Shipments over AUD 30,000 will need to be delivered by Secure Carrier. Such deliveries are arranged on a case-by-case basis. Our Online Orders Customer Care team will liaise with you to determine the requirements for each shipment and provide a specific quote and shipping details. Online Orders Customer Care Team contact details:
9.6 International import charges and taxes
- Prices do not include overseas customs duties, foreign taxes or any other costs which may be associated with clearing bullion through local customs.
- These fees are the sole responsibility of the Customer, as is acquiring import licenses (if necessary) and assisting local authorities with any information required for formal customs clearance in the county of destination.
- We strongly recommend that you check with your local customs office for further information.
- Should you refuse to provide the required customs documentation prior to delivery, or delivery is refused due to customs duties, taxes or fees and the parcel is returned to us, all costs associated with the return will be borne by you.
10. Insurance
- All Customers are offered insurance on payment of an optional premium.
- If any one item exceeds AUD 70,000, you agree to use the services of a secure carrier which includes insurance.
- If you decline the optional insurance offered by us, you must deselect the Bullion Insurance Waiver liability acceptance button and check the liability statement during the Website checkout process, or if the order is placed over the phone you must sign and return a Shipment Liability Waiver form.
- If you decline the optional insurance offered by us, you agree that you will be fully liable for loss of shipment for any reason and you bear the onus of taking out any separate insurance for the shipment.
11. Dispatch
- We will endeavour to dispatch orders within three working days of receipt of cleared payment.
- During periods of high demand, delivery delays may occur. We accept no liability in the event that delivery of your order is delayed.
12. Contract completion guarantee
- If you register to purchase bullion online via the Website, you must provide a ‘Contract Completion Guarantee’ with the provision of your credit card on registration and when placing the order.
- A process called pre-authorisation will be conducted for every credit card transaction to provide increased protection against fraudulent activity.
- The $0 pre-authorisation is simply a validation of the credit card and is an indication to us that prior to the acceptance of an order placed by you and fixing of the price by us, the card will accept charges from us. A successful pre-authorisation is required when adding/updating your credit card information.
- The credit card must be current and in the name of the buyer.
- We will charge an administration fee of AUD 150 to your credit card plus any other losses incurred in the event of non-completion of the purchase.
- The credit card provided for this Contract Completion Guarantee is not authorised for any other charge or payment.
13. Limitation of liability
- Our maximum liability at any time is limited to the price paid by you.
- Under no circumstances will we be liable to you for any indirect, incidental, consequential, special, punitive or exemplary damages, including without limitation, damages for loss of revenue or loss of profits, loss of reputation or loss of goodwill, or delay in delivery of the order, or any increased costs incurred by you, or loss or damage suffered by you as a result of any investment decision which results from acting upon any material published by us on any website maintained by us, even if we have been advised of the possibility of such liability or foresaw or could have foreseen such liability, and notwithstanding whether such liability arises in contract, tort, statute, equity or otherwise.
14. Deposits
- Orders over AUD 100,000 or equivalent currency value require the payment of a 15% deposit in cleared funds prior to the fixing of prices and acceptance of the order.
- Orders over AUD 2,000,000 or equivalent currency value require full payment in cleared funds prior to the fixing of prices and acceptance of the order.
- We reserve the right to request a deposit irrespective of the order value.
15. Returns
No returns of bullion are accepted. Any shipment of bullion returned to us due to your refusal to accept delivery or you not being available for delivery, will remain your responsibility and cost, and will not be accepted as a return of product under any circumstances.
16. Buy-back
The buy-back of undelivered bullion may be undertaken only if the original purchase has not been dispatched and has been paid in full with cleared funds (a delay of up to seven working days may apply from initial receipt of client payment).
17. Trading hours
Details of our standard trading hours can be found on our Bullion trading hours page.
18. Privacy
- Any personal information submitted by you to us is subject to and will be handled in accordance with our Privacy Policy set out at here.
- You agree that, by using a Purchase Method to purchase physical bullion, you have read the Privacy Policy, understood its contents and consented to its requirements.
19. Force majeure
19.1 Definition
Under these Terms, Force Majeure means any act, event or cause that is beyond our reasonable control, including but not limited to: an act of God, act of any Governmental Agency, accident of navigation, war (whether declared or not), sabotage, riot, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, lightning, flood, earthquake, landslide, storm or other severe weather conditions, explosion, power shortage, strikes, lock-outs or other industrial disturbance (whether or not involving employees of the party concerned), uncontrollable delays in transportation, inability to obtain any necessary equipment, facilities or qualified employees, epidemic, quarantine, radiation or radioactive contamination or the effect of any applicable law, orders, rules or regulations.
19.2 Scope
If we are unable, wholly or in part, to perform any of our obligations under these Terms as a result of Force Majeure, then:
- we will give you prompt notice of the Force Majeure and, insofar as known to us, the probable extent to which we will be unable to perform, or be delayed in performing our obligations;
- these obligations shall be suspended, but only so far and for so long as we are affected by the Force Majeure; and
- we shall resume performance of our obligations under these Terms as soon as we are no longer affected by the Force Majeure.
20. Severability and jurisdiction
- If any provision of these Terms becomes invalid by law, regulation or proceeding, all other provisions remain in full force and effect.
- These Terms constitute the entire agreement between you and us with respect to the transaction contemplated in these Terms and supersedes and extinguishes all prior oral agreements and understandings between you and us with respect to the transaction.
- These Terms are governed by the laws of the State of Western Australia and applicable laws of the Commonwealth of Australia and you and us submit to the non-exclusive jurisdiction of the courts of that State and courts which hear appeals in those courts.
21. Waivers and remedies cumulative
- No failure to exercise and no delay in exercising any right power or remedy under these Terms shall operate as a waiver, nor shall any single or partial exercise of any right, power or remedy preclude any other or further exercise of that or any other right, power or remedy.
- The rights, powers and remedies provided to us under these Terms are cumulative and are not exclusive of any rights, powers or remedies provided by law.
Last updated 24-8-23.