Buying from the Perth Mint (incl. depository)
The Perth Mint is run by Gold Corporation, owned by the WA Government, and sells bullion online, in its East Perth shop and through a depository. On 11 October 2026 its 1oz cast bar cost A$6,184.39, 2.86% over spot, the cheapest 1oz item we found. Its Swan minted bar was dearer than at two dealers.
Most gold bars and Kangaroo coins sold by Australian dealers come out of one building in East Perth. That makes the Perth Mint both the country's main bullion maker and a direct competitor to the dealers who resell its products. Below is how buying from it works, what it charged against dealers in our own check, what its depository costs, and the regulatory history buyers sometimes ask about.
Who owns the Perth Mint?
The Perth Mint is operated by Gold Corporation (ABN 98 838 298 431), and the footer of every page on its site states that it is "wholly owned by the Government of Western Australia". Gold Corporation was set up under the Gold Corporation Act 1987, which the Mint itself cites in its public statements. The Mint says it has been refining gold since 1899, that it stored more than A$13.3 billion of precious metals for clients in 2025-26, and that all precious metal holdings in its storage programs are backed by a government guarantee.
The practical points for a buyer: Perth Mint products are widely recognised, so they are easy to resell to Australian dealers, and the seller is a state-owned body rather than a private company. Neither fact guarantees a lower price, as the next section shows.
What gold products does the Perth Mint sell?
- Bullion coins: the Gold Kangaroo (99.99% gold, Australian legal tender) and the annual Lunar series, which has both bullion and collector versions.
- Minted bars: stamped bars in sealed cards, including the Swan and Kangaroo minted bars.
- Cast bars: poured bars from 1oz up to 1kg, plus 400oz London Good Delivery bars for depository clients. Its Australian Origin Gold kilo bar is made only from gold mined in Australia.
- Collector coins, jewellery and pink diamonds, which are priced as retail goods, not by gold content.
For bar sizes and specifications, see our Perth Mint bars guide.
Is it cheaper to buy direct from the Perth Mint or from a dealer?
Every bullion price is the spot price (the wholesale value of one troy ounce of pure gold) plus a premium for making, handling and margin. We captured single-unit prices automatically from each seller's product page on Sunday 11 October 2026, when the market was closed and spot was A$6,012.71.
| Seller | Product | Price | Premium over spot |
|---|---|---|---|
| The Perth Mint | 1oz cast bar | A$6,184.39 | 2.86% |
| Ainslie Bullion | Swan 1oz minted bar | A$6,185.24 | 2.87% |
| Jaggards | Swan 1oz minted bar (bank transfer or cash) | A$6,193.19 | 3.00% |
| The Perth Mint | Swan 1oz minted bar | A$6,214.39 | 3.35% |
GoldVetted automated price check, 11 October 2026: The Perth Mint at 10:47 UTC, Ainslie Bullion and Jaggards at about 16:08 UTC, spot from gold-api.com. Each bar holds one troy ounce of 99.99% gold, so premium = price ÷ spot − 1. Jaggards' standard (non bank transfer) price was A$6,301.57. Prices exclude delivery. More products and dealers: best places to buy gold in Australia and the Australia premium report.
What this means for you: the Perth Mint's cast bar was the cheapest 1oz product we found, so buying direct can make sense for cast bars. The Swan minted bar tells the opposite story: the identical bar cost A$29.15 more direct than at Ainslie Bullion, and A$21.20 more than at Jaggards by bank transfer. The gaps are small on one bar, but they add up on larger orders. Delivery matters too: the Perth Mint charges A$17.50 per packed kilo for bullion within Australia (minimum A$17.50), with optional transit cover at 1.1% of the order value, according to its shipping page. Compare the delivery terms of any dealer you use. For a dealer-by-dealer view, see Perth Mint vs ABC Bullion.
See the Perth Mint's bullion prices
How does the Perth Mint depository work?
Instead of taking delivery, you can leave metal in the Perth Mint Depository. Its storage options page describes three types:
- Allocated: specific cast bars are set aside with your title attached and removed from the Mint's working stock. You pay for the bar, a one-off fabrication charge and an ongoing storage fee.
- Pool allocated: offered for 1,000oz silver bars only, not gold.
- Unallocated: you own an amount of metal rather than particular bars. There is no fabrication or storage fee, and you can convert to allocated later. Our guide to allocated vs unallocated gold explains what each means for ownership.
| Fee | Amount | Notes |
|---|---|---|
| Storage, allocated gold | 1% a year | Depository Online: calculated daily, deducted monthly |
| Storage, unallocated gold | 0% | No fabrication charge either |
| Fabrication, 1oz cast bar | A$145 | One-off, allocated only, non-refundable |
| Fabrication, 1kg cast bar | A$3,000 | Only kilo and larger bars have serial numbers |
| Depository Online trade fee | 1% to 0.20% | 1% on A$5,000 to A$10,000, falling to 0.20% above A$1 million; under A$5,000 not accepted |
| Depository Program trade fee (Australian clients) | 2% buy, 1% sell | On accounts under A$50,000; 0% above A$50,000 |
Source: The Perth Mint storage account fees page. Coins cannot be held in the depository, and depository bars are not sold in packaging. Freight or collection of stored metal is charged separately.
A worked example using those fees: buying A$10,000 of allocated gold through Depository Online costs a 1% trade fee (A$100), then A$100 a year in storage, plus fabrication on each bar. The same amount held as unallocated gold avoids the storage and fabrication charges but not the trade fee. The Perth Mint also lists its Perth Mint Gold product on the ASX (code PMGOLD), and SMSF trustees can read our guide to gold in an SMSF. We describe these products for information only. For home safes, bank boxes and other vaults, see our gold storage guide.
Does the Perth Mint buy back gold?
Yes, in person at its bullion trading room in East Perth. It buys Perth Mint coins and medallions, gold and silver legal tender coins, gold and silver bars and ingots, and natural gold nuggets. First-time sellers register an account in store with 100 points of ID, the metal is assessed, and payment goes to your bank account after two business days. It holds second-hand dealer licence 83230. If you live elsewhere, our guide to selling gold in Australia compares dealers, and our Perth gold buying guide covers other local options.
What does the Perth Mint pay for gold jewellery?
Unusually, the Mint publishes indicative per-gram buy prices for jewellery. We read them at 2:59 pm AWST on 12 October 2026 and compared them with the spot value of the gold in each carat, using gold-api.com spot of A$5,996.67 an ounce (A$192.80 a gram) a few minutes later.
| Carat (fineness) | Perth Mint buys, per gram | Spot value of the gold, per gram | Share of spot value |
|---|---|---|---|
| 24k (999) | A$148.58 | A$192.61 | 77% |
| 22k (916) | A$136.24 | A$176.60 | 77% |
| 18k (750) | A$111.55 | A$144.60 | 77% |
| 14k (585) | A$87.01 | A$112.79 | 77% |
| 9k (375) | A$55.77 | A$72.30 | 77% |
Perth Mint prices are indicative and finalised in store at the time of trading; jewellery payment takes two to five business days. Spot value is our arithmetic (spot per gram × fineness).
Jewellery is bought as scrap, so the price allows for testing and refining costs. Bullion bars and coins generally fetch a figure much closer to spot. Get more than one quote before selling either.
Has the Perth Mint had compliance problems?
Yes, and buyers researching the Mint will come across them, so here is what primary sources say.
- Anti-money laundering audit (from 2022): AUSTRAC, Australia's financial intelligence regulator, ordered Gold Corporation to appoint an external auditor to examine its compliance with anti-money laundering and counter-terrorism financing (AML/CTF) law, covering its AML/CTF program, customer due diligence, suspicious matter reporting and enrolment details.
- Enforceable undertaking (2023 to 2025): AUSTRAC accepted an enforceable undertaking (a formal, binding promise to fix problems) from Gold Corporation in November 2023, after finding non-compliance. AUSTRAC later reported that the final auditor's report in May 2025 found remediation complete, and it formally released the Mint from the undertaking.
- Gold "doping" report (2023): in March 2023, ABC's Four Corners reported that some kilo bars sold into China did not meet the Shanghai Gold Exchange's limit on silver. In its response of 8 March 2023, the Perth Mint said the bars always contained at least 99.99% gold and met London Bullion Market Association specifications, that it learned in September 2021 that some bars exceeded the exchange's 50 parts per million silver limit, and that since December 2021 its bars average at least 99.996% gold.
None of these reports said retail customers' Kangaroos or small bars were short of gold. We describe them so readers can weigh them alongside the price data; the full sources are listed at the end of this page.
Pros and cons of buying from the Perth Mint
Pros
- State-owned maker of Australia's best-known bullion
- 1oz cast bar was the cheapest 1oz item in our check
- Unallocated storage with no storage fee
- Buys back in person and publishes jewellery buy prices
- Investment gold carries no GST
Cons
- Swan minted bar dearer than at two dealers
- Bullion delivery charged by weight, with cover extra
- Depository trades must be at least A$5,000
- Allocated storage at 1% a year plus fabrication
- Past AML/CTF compliance failings, since remediated per AUSTRAC
How to buy from the Perth Mint, step by step
- Check the spot price. Look up the gold price today in AUD so you can work out each premium.
- Choose the form. Bars usually cost less per ounce than coins; 99.99% products avoid GST under ATO rules.
- Compare the same product. Price the bar or coin at the Mint and two dealers, paying the way you plan to pay. Our Perth Mint review scores the Mint on the same checks as dealers.
- Pick delivery, Click and Collect or storage. Add freight and cover to delivered orders; add yearly fees to stored ones.
- Keep your invoice for capital gains tax when you sell.
Gold prices go down as well as up. This page is general information, not financial advice.
Frequently asked questions
Who owns the Perth Mint?
The Perth Mint is operated by Gold Corporation, which its website says is wholly owned by the Government of Western Australia. The Mint also states that all precious metal holdings in its storage programs are backed by a government guarantee. It has been refining gold since 1899 and sells bullion online and from its shop at 310 Hay Street, East Perth.
Is it cheaper to buy gold from the Perth Mint or a dealer?
It depends on the product. On 11 October 2026, the Perth Mint's own 1oz cast bar was the cheapest 1oz item in our check at 2.86% over spot. But its 1oz Swan minted bar cost A$6,214.39, which was A$29.15 more than the same bar at Ainslie Bullion and A$21.20 more than Jaggards' bank transfer price.
How much does Perth Mint depository storage cost?
According to its fees page, allocated gold (specific bars held in your name) costs 1% a year, and unallocated gold costs nothing to store. Allocated bars also carry a one-off fabrication charge, such as A$145 for a 1oz cast bar. Depository Online trades must be at least A$5,000, with a 1% fee up to A$10,000.
Does the Perth Mint buy back gold?
Yes. Its bullion trading room in East Perth buys Perth Mint coins and bars, gold and silver legal tender coins, other bars and ingots, and natural nuggets. You register an account in store with 100 points of ID, have the metal assessed, and are paid into your bank account after two business days.
What does the Perth Mint pay for gold jewellery?
It publishes indicative per-gram buy prices. At 2:59 pm AWST on 12 October 2026 they were A$148.58 for 24 carat, A$136.24 for 22 carat, A$111.55 for 18 carat, A$87.01 for 14 carat and A$55.77 for 9 carat: about 77% of the gold's spot value. Prices are finalised in store.
What was the Perth Mint gold doping controversy?
In March 2023, ABC's Four Corners reported that some Perth Mint kilo bars sold to China had not met the Shanghai Gold Exchange's silver limit. The Mint said the bars were always at least 99.99% gold and met LBMA rules, and it changed its refining process from December 2021. Separately, AUSTRAC released it from an anti-money laundering undertaking in 2025.
Do I pay GST on Perth Mint gold?
Not on investment gold. Under ATO ruling GSTR 2003/10, gold bars, wafers and coins of at least 99.5% fineness in investment form carry no GST. That covers Perth Mint cast and minted bars and 99.99% Kangaroo coins. Jewellery and 22 carat coins are different. See our Australian gold tax guide.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- The Perth Mint: Storage account fees (transaction, storage and fabrication fees, checked 12 Oct 2026)
- The Perth Mint: Storage options (allocated, pool allocated, unallocated)
- The Perth Mint: Sell bullion in person (products bought, ID, payment in 2 business days)
- The Perth Mint: Sell your gold jewellery (indicative buy prices, 12 Oct 2026 2:59 pm AWST)
- The Perth Mint: Shipping and delivery (bullion freight and cover)
- The Perth Mint: Response to ABC TV allegations (8 March 2023)
- AUSTRAC: AUSTRAC orders audit of Gold Corporation's compliance with financial crime laws
- AUSTRAC: AUSTRAC deems Perth Mint free of enforceable undertaking
- ATO: GSTR 2003/10, GST and precious metals
- gold-api.com: XAU/AUD spot feed used for GoldVetted price checks
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.