12/27/2023 0 Comments Perth mint goldHells Angels bikie member Dayne Brajkovich approaching the Perth Magistrates Court in 2021. It said it was now committed to higher than industry standard purity measures. The Mint told the ABC that as Chinese laws did not allow the bars to be returned for inspection it “could not be verified” there was a larger purity issue. ![]() “I think it can be described as a cover-up – Perth Mint had a choice to disclose all the information and chose not to.” “But in practice, it seems to be falling down and that culture of secrecy is not playing out in good business conduct. “The Perth Mint website has a beautiful set of words and codes of conduct (and) even states that they pride themselves on being trusted for the purity of their gold,” transparency advocate Serena Lillywhite told the program. It immediately stopped the gold doping program but kept the quality issues under wraps. “If SGE – Gold Corporation’s pre-eminent exchange client – had made public that they had issues with Gold Corporation bars, the impact of negative public statements on the business could be very significant,” an internal document stated. Molten gold poured into an ingot mould at the Perth Mint. It replaced one of the bars but left the Chinese firm to prove that the other bars were similarly tainted. The gold would have to be transported back to WA, melted down and recast without the impurities before it could be sold again. The Mint estimated that if it had to recall all 100 tons of gold it had shipped to Shanghai it could be on the nose for $8.7 billion. And it raised the possibility that all the gold bars sent to SGE had similar defects. The accusation checked out, Perth Mint discovered, when it looked into its records regarding the batch sent to China. ![]() In 2021, the Shanghai Gold Exchange (SGE), a key buyer of Perth produced gold, told the Mint a number of the bars it had received contained too much silver and not enough gold. However, a few months after the doping began there were internal concerns, the ABC found, about how rigorous the 99.9 per cent gold total was being adhered too. In keeping with tradition, small denomination gold coins feature new reverse imagery depicting a kangaroo among eucalyptus and grass trees, familiar Australian plants.Īll other releases portray a ‘red’ kangaroo surrounded by stylised rays of the sun, based on a classic work originally created by Stuart Devlin for the 1989 Australian Nugget Series.Īdmired for their outstanding quality reflecting the exceptional skills of the artisans at The Perth Mint, Australian Kangaroos have been trusted by investors worldwide for more than 35 years.Īvailable from The Perth Mint Shop, online at and through our international network of authorised bullion dealers, the Australian Kangaroo 2023 Gold, Silver and Platinum Coin Series is available to order from today.Teh Perth Mint has admitted to “doping” gold. The Memorial Obverse appears on five denominations struck from 99.99% pure gold, as well as single issues crafted from 99.99% pure silver and 99.95% pure platinum. “While bullion Kangaroos are primarily aimed at investors, these coins are likely to generate special interest as the final examples to picture The Queen, who selflessly served Australia and the Commonwealth through seven decades,” added Neil Vance. ![]() The text surrounding her likeness on each release now reads ‘ELIZABETH II 1952-2022 The design comprises Her Majesty's sixth official coin portrait supplemented with the years of her reign. “This obverse was developed to enable the Mint to continue producing collectable and investment coins until the transition to an effigy of King Charles III.” “The Australian Kangaroo is the first Perth Mint release of 2023 to feature the official Queen Elizabeth II Memorial Obverse,” explains General Manager Minted Products, Neil Vance. This year’s coins offer new imagery on small gold coins, and classic artistry on all other releases.Įach coin also bears a modified obverse marking the passing of Her Majesty Queen Elizabeth II in September 2022 after reigning for 70 years as Australia’s Head of State. Offering investors a trusted range of pure gold, silver and platinum investment options, the Australian Kangaroo is Australia’s most iconic bullion coin series.
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