Note: A reader informs me that Perth Mint no longer offers unallocated accounts since 2011, and instead offers 'pooled accounts.' As in all such situations you should familiarize yourself with the particulars and make a judgement whether this conforms to your objectives, which was one of the primary messages of this writeup.
"I reported last week of recently discovering that Kitco Metals, which is currently in the process of an insolvency reorganization, holds $260 million in precious metals pool accounts (mostly gold and silver) for clients. I found this disturbing since the ultimate backing to a precious metals pool account is the financial strength of the issuer because the metal backing the pool accounts is not specifically identified...It’s no wonder the offer of free storage has been responsible for the immense popularity of the Perth Mint’s unallocated silver certificate program. After all, what’s better than free? But it is also true that a prudent person should beware of anything if it seemed to be too good to be true. That, in a nutshell, is at the core of my longstanding distrust of silver pool and unallocated accounts, including Kitco’s and that of the Perth Mint. In other words, the most likely explanation for why and how no storage fees are charged is because no metal (or not enough metal) is being stored and set aside for customers holding pool or unallocated accounts."
She rides the frothing ocean waves,Upon a crimson shell,Her skin is of the milk white reef,Her breasts, the ocean's swell.In her eyes behold the fathoms of the deep.Aphrodite of the shifting seas,and of the languid bays,Riding with her dolphin band,Across the sea-skipped waves.Aphrodite from the depths where dark things sleep.