Buying Gold and Silver in Australia

The Commonwealth of Australia is a federal parliamentary constitutional monarchy with Her Majesty Elizabeth II styled Queen of Australia since 1952. Being the sixth-largest country by total area, Australia is the 13th largest economy in the world with the ninth-highest per capita income in the globe. In 2012, Australia was the 12th largest economy by national GDP, accounting for around 1.7% of the world’s economy. Mining and agriculture are the two major sectors that contribute to the Australian economy. However, the service sector is the one that dominates the country's economy. Australia is also home to some of the largest companies in the world - Woolworths, BHP Billiton, Commonwealth Bank, Rio Tinto Group, Telstra and Caltex, etc.

When it comes to precious metals dealing, Australia is considered a neutral country as it levies taxes on bullion products. However, there are a few criteria that lead to tax exemption on precious metal products. With coin shows happening all over the country all year round, Australia is also the home of several extremely popular mints, famous storage facilities, and renowned wholesale and retail precious metal dealers which you will find listed below.

Commodity & Futures Markets in Australia:

ABX Global (ABX) Brisbane, Australia
ABX is a global leading electronic institutional exchange for allocated physical precious metals. It's a secure online platform that brings global trading, price discovery, and clearing facilities all in one place. This is an exchange where precious metal market participants can trade, deliver, or store physical precious metals in seven international locations. Through ABX, global market participants are given direct access to a single integrated and consolidated global wholesale bullion market.

Coin Shows in Australia:

Coin collecting is a highly popular hobby prevalent around the world. You can witness the passion for it as more and more coin enthusiasts are traveling to different states and countries to attend famous national and international coin shows. Australia hosts several great coin shows which shall be attended by collectors and dealers from all around the globe. If you are planning to visit Australia soon, or if you want to see some coin shows outside the US, take a look at the most popular Australian coin shows listed below.

This coin show is organized by the Australian Numismatic Dealer’s Association (ANDA). The coin show features around 30 dealers who will display a wide variety of coins, currencies, and stamps. You can buy, sell, or trade with these dealers on Saturday (10 am – 6 pm) and Sunday (10 am – 5 pm).

The show is organized by the Orange Coin and Stamp Club and takes place in April. This is a two-day event which features interstate dealers, as well as NSW dealers. You will find a variety of coins and stamps, along with other collectibles on display at this expo. Dealers and club members will provide free valuations and advice. The show also offers special activities for children. There is a $2 admission fee, but the entrance is free for children. There is wheelchair access to the show. The show's hours are Saturday 9 am – 4 pm and Sunday 9 am – 3 pm. The Orange Coin and Stamp Club also organizes a monthly fair on the first Saturday of each month (open from 9:30 am – 1:00 pm) and a Spring Fair in October, both taking place at the same venue.

The show holds several exhibits of coins and stamps. Coin enthusiasts can acquire knowledge about these valuables by talking to numerous experts attending the fair. The entry is free. No bookings required. Show hours are 9 am – 3 pm. The fair offers door prizes. The venue is wheelchair accessible. 

This is a 3-day international coin show which hosts coin and stamp dealers from foreign countries, as well as from different states of Australia. This annual event has grown in popularity since its debut in 2012, as the number of dealers and numismatists attending this show continues to increase. A great numismatic event to attend for all coin and stamp collectors. You will find a variety of stamps, postcards, banknotes, coins, medals, militaria, and other collectibles.

Government and Private Mints in Australia:

Perth Mint 310 Hay Street, East Perth, Western Australia +61 8 9421 7222
Fully owned by the Government of Western Australia, the Perth Mint is the official bullion mint of the country. The mint was established in 1899 as a branch of the British Royal Mint which manufactured gold sovereigns and half sovereigns for the British Empire. In 1931, the mint stopped working for the British Royal Mint. During World War II, Perth Mint began minting Australian coinage by using base metals. Today, most of Australia’s legal tender precious metal coins are minted here, including the famous Australian Nugget Gold Coins, Australian Platinum Koala Coins, Australian Silver Kookaburra Coins, as well as other popular Australian bullion pieces. In 2003, a new building was opened by Perth Mint next to its old building.

Royal Australian Mint
The Royal Australian Mint was established in 1965 and is located in the Australian federal capital city of Canberra. All Australian circulating coins are produced by the Royal Australian Mint. Before the mint was founded, the Australian circulating coins were produced at the Sydney Mint, Melbourne Mint, and Perth Mint - the three branches of the Royal Mint. The Royal Australian Mint is the first mint that is not a branch of the London's Royal Mint, being also a popular tourist spot in Canberra.

Melbourne Mint
Melbourne Mint Pty Ltd. is a private company since 2012, being located on the first and ground level of Melbourne Mint building. It has no connection with the former branch of the British Royal Mint which minted gold sovereigns until 1916, and Australian coins between 1927 and 1967. Melbourne Mint is known for its amazing bullion products of superior quality.

Sydney Mint
The Mint was built between 1811 and 1816 and is one of the oldest buildings standing in the Sydney Central Business District. This mint was the first branch of the British Royal Mint outside of England. It functioned from 1855 to1926, and during this period it went through constant upgrades. However, after the establishment of the other two branches, the Melbourne and Perth Mint, which were more profitable due to their superior technology, the Sydney Mint came to a halt in 1926.

International Bullion Depositories in Australia:

When investing in precious metals, safeguarding your valuables is a crucial factor. Sensing the difficulty that investors have in storing and safeguarding their bullion investments, many large precious metal companies offer safe and secure storage solutions in different places around the world. Australia is one of the top spots for investors with large holdings who are looking to spread their investments among several countries. There are many international companies which offer precious metals storage in Australia.

Bullion Exchanges in partnership with Malca-Amit and several other gold bullion storage companies offers allocated, pool allocated and unallocated storage in Australia in high-tech, secure vaults with top-notch 24/7 control and surveillance. Just contact us and we will provide you the safest and most convenient way to store your precious metals in Australia.

Perth Mint offers vault storage for several international precious metals dealers. Only a few companies are qualified for storing precious metals at this facility. These dealers can guide you on how to purchase or store precious metal products from Perth Mint on their behalf. Some of the Perth Mint approved international dealers are GoldCore Limited in Ireland, Euro Pacific Capital, Inc in the USA, BFI Consulting AG in Switzerland. Assets Strategies International, Inc in the USA, and GoldSilver Central Pte Ltd in Singapore.

This is one of the leading US precious metal providers to individual investors. The company lets clients purchase and manage bullion assets either directly through GBI or through their existing wealth management account relationships. The company acquires precious metals from dealers that sell only London Bullion Market Association recognized brands. The precious metals are then stored based on clients' preferences in fully secure and fully insured vaults in New York, Salt Lake City, London, Zurich, Singapore, and Australia.

Vaults and Bullion Depositories in Australia:

Australia is one of the most economically stable countries in the world, being regarded as a safe place for storing precious metal holdings. Besides international bullion storage options, there are also local companies which offer precious metals vaults where you can securely store your items. So, if you want to buy and store gold in Australia, take a look at the below Australian vault options.

The Custodian Vaults is an extremely popular vaulting facility in Australia. In partnership with its sister company ABC Bullion, Custodian Vaults provides top-notch vaulting service to its regional and international clients. The company offers different types of storage facilities, such as bullion storage, jewelry storage, legal documents storage, as well as global vaulting solutions. The security is unparalleled, including 24-hour physical monitoring, sophisticated motion detecting systems, and biometric identification systems. The facility strictly adheres to Australian federal security regulations. Discretion is maintained, and there is no fear of confiscation as this is a private vault which functions outside of the Australian banking system.

The Vault Australia is one of the top level vault facilities in Australia. The company is located in Sydney and has a state-of-the-art security system in place. The vault has Grade 11 steel perimeter walls, and the floors and ceiling are certified by Chubb Lock and Safe - a reputable name among vault providers. The advantages of storing valuables in this vault are: highly sophisticated electronic security, biometric and microchip access system; no bank account holding required; complete discretion; private viewing rooms; secure pickup, authentication, and evaluation; the only robotic facility in Australasia.

One of Australia’s popular precious metal dealers which also offers premium fully allocated and specific product storage services. The precious metals owned by its clients are fully insured and stored in the Sydney vaulting facilities of G4S, which is an LMBA member and a global leader in integrated security services.

Australian bullion dealer which also provides both allocated storage as well as unallocated storage.

Tax on Precious Metals in Australia:

The tax policy of Australia for precious metals is similar to that of the USA and UK. There is a GST tax (Goods and Service tax) that applies to precious metals purchases and there is a CGT tax (Capital Gains Tax) which applies to any kind of precious metals sales.

Still, Australia does exempt GST on investment grade precious metals which meet the following finesse requirements for tax exemption - 99.5% for gold, 99.9% for silver, and 99% for platinum. Palladium is not exempted from the tax as “No regulations have been made to specify any other substance. To be precious metal for GST purposes, the metal must, therefore, be gold, silver or platinum.” Numismatic coins are also not exempted from the tax since they are valued based on other factors than their precious metal content.

The GST is 10% for all those precious metal products that do not fall under the exemption criteria. Capital Gains Tax (CGT) is applicable on the sales of investment grade precious metals. However, if the precious metals products had been held for at least a year, a 50% discount to the CGT is applied.

Since we are not tax experts, Bullion Exchanges strongly advises you to cross check with a tax professional before making any precious metals investments in Australia.

Shipping-to rates in Australia:

Australia has no import/export restrictions on precious metals like gold, silver, platinum, etc. so investors are free to take precious metals in or out of the country. But keep in mind that some precious metal transactions (see the above section) might attract a 10% GST (Goods and Services Tax) based on the content purity of the bullion coins or bars.

Local Gold and Silver Dealers in Australia:

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Smelters & Refineries in Australia:

Smelters extract various metals from the ore and create refined precious metals products. Silver and gold smelting is typically conducted by a professional precious metals refinery, such as Bullion Exchanges. Australia also has numerous plants where refining silver and gold are performed. Pick a gold or silver refinery listed below or allow us to help you in melting gold or silver for you: