You are welcome to walk in Monday to Friday from 9:30 am to 5:30 pm and Saturday from 10:00 am to 4:00 pm.įor more information on how to buy bullion or locate our shop, you can view our address and contact details here or call MGC on (03) 8678 2085 View our range of AGC Bullion, ABC Bullion and Perth Mint Bullion below, all at Melbourne's most competitive prices, purchase in-store or online. We stock all our Silver, Platinum and Gold bullion, no appointment is required to purchase directly from MGC as we offer instant over the counter cash transactions. We welcome our customers to buy bullion through our secured online store below or in-store. Our Gold, Platinum and Silver bullion products are displayed below at live world spot prices. If you are adding bullion to your investment portfolio, Melbourne Gold Company is the place to buy bullion bars and bullion coins. We proudly offer our customers leading prices for Gold, Silver and Platinum bullion products in Melbourne.
ABCBULLION PERTH FULL
Watch the full Four Corners investigation on ABC iview.The Melbourne Gold Company is Melbourne's leading gold and silver bullion dealer. It could be facing a hefty fine, potentially running into the hundreds of millions of dollars, like those levied on Australian banks and casinos in recent years. The other headache for the mint is an ongoing investigation by financial crime regulator, AUSTRAC, into its compliance with Australia's anti-money-laundering laws. The mint kept its accreditation, but the LBMA says it "reserves the right to re-visit" the issue "if new information … becomes available". 1 oz ABC Bullion Eureka Silver Coin 52.19 33.45: 1 oz Royal Mint Britannia Silver Coin 52.19 33.45: 1 oz South African Mint Krugerrand Silver Coin 52.19 33. The mint was forced to adopt a "corrective action plan" after the PNG gold was revealed to have been cut with mercury and mined with the help of child labour. 1/4 oz Perth Mint Kangaroo Gold Coin 868.32 729.17: 1/2 oz Royal Mint Britannia Gold Coin 1/2 oz Perth Mint Kangaroo Gold Coin. This is the latest scandal to hit the mint, after it was investigated by the London Bullion Market Association (LBMA) in 2020 over gold purchased from a convicted killer in Papua New Guinea.
They took deliberate actions to ensure this didn't get out." But once they found it, they knew what they were doing. "It happened in the first place because of poor systems management and incompetence on the refining side. "Potentially you'll get gold buyers in the market going, 'Can we trust anything coming out of the Perth Mint? Including coins, bullion, anything?'," the insider says. The longer-term damage to the mint's reputation stands to be far greater. The mint agreed certificates of assay would accompany all bars sent to the SGE in the future. In the end the SGE chose not to make its complaint public and accepted assurances around quality from the mint. It said its refining methods had been enhanced since late 2021 and it was now committed to higher purity standards than the industry average. Perth Mint confirmed it did receive a customer complaint about a small number of 1kg gold bars but that, "due to Chinese government restrictions on exporting gold from China, the customer did not return the bars … and therefore the customer's concerns could not be verified". He did not respond to Four Corners' questions or a request for an interview. In the same week as this crisis was unfolding behind closed doors at the Perth Mint, it was announced that Mr Hayes would be retiring early due to illness. "If they've … traded bars through the SGE that are non-compliant, they'd lose their accreditation."
WA Premier Mark McGowan had ministerial responsibility for the mint for four years until March 2021.
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It is the only mint in the world that has a government guarantee.īut in recent years the 124-year-old institution, officially known as Gold Corporation, has been plagued by a series of scandals. Last year alone it sold $20.3 billion in gold.
The mint is the largest processor of newly mined gold in the world, one of Perth's top tourist attractions and well known for producing commemorative coins to mark everything from royal weddings to a new James Bond film. "I don't know if I've ever seen one this big," they say. One Perth Mint insider, who asked not to be named as they could face five years' jail if their identity is revealed, says it is a "scandal of the highest level". While the gold remained above broader industry standards, the report estimated up to 100 tonnes of gold sent to Shanghai Gold Exchange (SGE) potentially did not comply with Shanghai's strict purity standards for silver content. Four Corners has uncovered documents charting the WA government-owned mint's decision to begin "doping" its gold in 2018, and then how it withheld evidence from its largest client in an effort to protect its reputation.
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