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jultorsk last won the day on March 11

jultorsk had the most liked content!


About jultorsk

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  • Location:
  • Stacker/Collector:
    Stacker & Collector

What I am collecting / Investing in.

  • What I am collecting / Investing in.
    Australian sovereigns, vintage cast silver bars.

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  1. A sad day indeed, Perth Bullion Company was a well loved dealer with good selection and affordable shipping rates. The issue seems to be with GST (VAT) legislation here. Proof and collectors coins, regardless of their metal purity attract GST. In addition all bullion grade below 99.5% for gold and 99.9% for silver attract GST (meaning e.g., sovereigns are subject to 10% GST in Australia). The current working assumption (as the facts are still being gathered) is that the dealer was issued an order by the tax authority to remit GST on coins that should have been GST free per the ATO guideline. It appears as the tax authority has interpreted their own guideline so that any bullion sold for spot price + 10% is now subject to GST. https://www.ato.gov.au/law/view/document?DocID=GST/GSTR200310/NAT/ATO/00001 It is an unfolding situation, with potentially very interesting repercussions to the entire bullion industry in Australia. Save a thought for anyone with allocated and unallocated bullion holdings with this dealer. https://www.rsm.global/australia/sites/default/files/media/circular_dated_11_july_2019.pdf Edit: I think it should be added that the current understanding is that this was no fault of Perth Bullion. It is not well understood how the law and tax guideline could be interpreted one way for a small bullion dealer such as PB, and then applied differently for some other (possibly larger operator, with sufficient funds to afford legal counsel).
  2. G'morning mate, welcome to the forum - it's a great place to be 😊
  3. jultorsk

    Golden asteriod

    I'm pretty sure whomever gets to mine it, will not distribute it evenly so that "everyone on Earth" becomes a billionaire... 😂 The Japanese are in a good position in the space mining race. https://www.theregister.co.uk/2019/05/14/phobos_jaxa_mission/ For me the question is which company should I bet on and buy some shares. https://www.sciencefocus.com/space/space-mining-the-new-goldrush/
  4. If it were a square 2.5 oz bar with a left facing swan then yes it would be collectible. 😊
  5. If "blackout" means same as "antiqued"/ruthenium plated etc, give it a miss IMO. For Australia depends where you'll visit. In Melbourne I'd recommend Bullion Now, in Perth for example Perth Bullion (not the Mint). Drop us locals a message when you know where you'll be headed - there might be a coin show or a local stacker meet where you can make a "guest star" appearance. Also, buy gold.
  6. G'day mate and welcome. 🇦🇺
  7. There are some "melt value calculators" that I've found somewhat useful; take a look at e.g., https://www.ngccoin.com/price-guide/coin-melt-values.aspx?MeltCategoryID=3&BaseMetal=World-Gold-Coin (US$ only, but easy enough to make the conversion on google) or https://www.australian-coins.com/gold-coin-values/world-gold-coin-values.htm# (this one allows you to choose also GBP for currency). 😊
  8. A Perth Mint book for the 150th anniversary of the Australian sovereigns with a 2005 proof "Sydney Mint Sovereign" on it (proof mintage 3'909). 📕 🇦🇺
  9. A rather smokey 10oz PM vintage bar (type A) and a riot of early Kooks. 🇦🇺 😊
  10. Seems that's their story and they're sticking to it. Here's verbatim from another FOI answer by the Royal Mint: "Declaring production figures on these [bullion] coins has the potential to impact sales and falsely inflate the prices in the bullion market. For example, if the production figure is considered to be low then the product could be viewed as a rare/collectible item and in these cases many retailers increase their prices. This causes confusion as to the distinction between core bullion products and commemorative/collectible items. There is then the clear potential to negatively impact the end customer as they could end up paying more for a bullion product than its intrinsic value." I feel so blessed that RM, purely out of the kindness of heart I'm sure, so looks after me to prevent any foolish confusion and safeguards me from paying more than the fundamental value for their coins. 😁 🙏
  11. Week starts well with a bit of vintage Perth Mint silver 😊 🇦🇺
  12. Correct - the Australian "round fiddies" were issued only in 1966. Very popular even today - Stuart Devlin's (famed for 1990 Kookaburra and Australian circulating currency coins) Coat of Arms design has aged well. 🇦🇺 On the obverse Arnold Machin portrait of Queen Elizabeth II.
  13. Been lucky to have seen both Tarja and Floor Jansen live with Nightwish. Awesome band and top-notch performances on both occasions 🇫🇮 (Yes indeed, Floor wasted no time in getting headbanging on from the first song and continued throughout the gig. My neck hurt just from watching her go 😂 )