Perth Mint’s AUD 64 million gold icon debuts in New York City
The Perth Mint's Chief Executive Officer, Richard Hayes rings the closing bell at the New York Stock Exchange.
To celebrate the official launch of the Perth Mint Physical Gold Exchange Traded Fund (NYSE Arca: AAAU) on the famed New York Stock Exchange, the fund’s custodian, The Perth Mint, will sponsor the debut of this country’s greatest gold icon in New York City for a rare one day event.
Cast by The Perth Mint, the one-of-a-kind Australian Kangaroo One Tonne Gold Coin is recognised by Guinness World Records as the largest coin ever created. Tipping the scales at 1,000 kilo of 99.99% pure gold, and measuring 80cm wide and 13cm deep, this masterpiece of precious metal engineering and craftsmanship is valued at more than AUD 60 million.
Created to showcase Australian gold internationally, this sizeable treasure represents the natural riches to be found Down Under. It also symbolises the gold investment products issued by The Perth Mint on behalf of the Commonwealth of Australia for investors the world over.
Having successfully taken Australian gold to the world for 120 years, The Perth Mint has accomplished many notable milestones, with its activities in New York yet another noteworthy achievement on the global stage said Perth Mint Chief Executive Officer Richard Hayes.
“To bring our award winning coin and our first exchange traded fund to the world’s largest financial market is something my colleagues in the Australian gold mining industry, at The Perth Mint, and I are particularly proud,” Mr Hayes said.
“I encourage New York City residents, commuters, visitors and tourists to “Say G’day” while the coin is on display in Experience Square outside the world famous New York Stock Exchange (corner Wall and Broad Streets) and take the opportunity to see what one tonne of pure gold looks like.”
Inside the NYSE at 4pm EST Mr Hayes, joined by senior executives from the Mint and their US counterparts who together worked to bring the fund to market, will ring the bell to signal the end of the trading day on Wall Street.
“It is an extraordinary occasion for an Australian organisation to be granted the honour of ringing the bell at the world’s most famous stock exchange.””
Australia is the world’s second greatest producer of gold and the leading exporter of newly mined gold. Processing nearly all of the country’s gold output, The Perth Mint is the largest refiner of newly mined gold globally and one of the top five suppliers of bullion to international markets.
In the multi-billion dollar Australian gold mining industry, The Perth Mint is a pivotal player and well positioned at the fore of the dynamic investment markets.
Trusted by institutional and individual private investors, The Perth Mint provides direct access to ethical gold for which Australia is renowned. The AAAU ETF is its latest move to take Australian gold global.
“Given the maturity of the American market and the understanding by US investors of the importance of holding gold in any wealth portfolio, it was an obvious choice to bring AAAU to market in the world’s share trading capital,” Mr Hayes said.
“The fund may be considered a modern investment option for even the most conservative of investors as it offers several features which potentially provide investors with comfort that their gold is easily accessible and safeguarded.
“Every AAAU share is backed by physical gold stored in our central bank grade vaulting facilities in Perth, so at any time investors may choose to exchange part or their entire holdings for a delivery of physical gold to their door.
“Even more importantly, the physical gold that backs each AAAU share is guaranteed by our sovereign owner, the Government of Western Australia.
“To demonstrate the integrity and scale of our operations, as well as the quality of our gold products for which investors may exchange their AAAU shares, we have brought the one tonne coin to New York,” he continued.*
The colossal Australian Kangaroo coin can be viewed in Experience Square directly outside the NYSE (corner Wall and Broad Streets) today only from 7am until 7pm EST before it embarks on its return journey home to The Perth Mint in Western Australia.
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* AAAU does not hold any ownership of the world’s largest gold coin. It is the sole property of The Perth Mint. Investors cannot invest in the Australian Kangaroo One Tonne Gold Coin.
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ABOUT THE PERTH MINT
The Perth Mint is the trading name of Gold Corporation, the custodial sponsor and custodian of the Perth Mint Physical Gold ETF (NYSE Arca: AAAU). The Corporation is wholly owned and guaranteed by the Government of Western Australia.
The Perth Mint is Australia’s largest fully integrated precious metals refining, minting and depository enterprise. Its refinery is one of a select group globally which is accredited by the five major gold exchanges, being the New York Commodities Exchange (COMEX), the London Bullion Market Association (LBMA), the Shanghai Gold Exchange (SGE), the Tokyo Commodities Exchange (TOCOM) and the Dubai Multi Commodities Centre (DMCC). Processing more than 90% of the newly gold mined in Australia, the world’s second largest producer of gold after China, its total production capacity is in excess of 800 tonnes of gold per year.
The Perth Mint also operates the most extensive network of central bank grade vaulting facilities in the southern hemisphere, where it safeguards precious metals worth billions of dollars on behalf of investors. As one of Western Australia’s top five exporters, The Perth Mint distributes approximately $16 billion of precious metal bars and coins to more than 130 countries each year, which is equivalent to more than 10% of the world’s annual gold production.
ABOUT THE FUND
The Perth Mint Physical Gold ETF (NYSE Arca: AAAU) is the first gold exchange traded fund with gold backed by a sovereign entity. Unique in the market, AAAU holdings are secured by pure gold held by the trust custodian and can be exchanged for physical gold products.** The Bank of New York Mellon is the fund’s highly respected trustee, while Exchange Traded Concepts is its administrative sponsor.
** Gold Corporation, operator of The Perth Mint, will deliver physical gold to investors in exchange for their shares in accordance with an approved application. A delay in the delivery of physical gold to investors could result in losses if the price of gold declines.
Disclosures
This material must be preceded or accompanied by a prospectus, a copy of which may be obtained by clicking here. Before investing, you should carefully consider the Trust’s investment objectives, risks, charges and expenses. Please read the prospectus carefully before you invest.
All obligations of the trust custodian, The Perth Mint, including the gold held on behalf of investors in AAAU, are guaranteed by the Government of Western Australia.
The government guarantee is subject to the claims-paying ability of the Government of Western Australia. If the custodian becomes insolvent, its assets, and the assets of the Government of Western Australia under the government guarantee, may not be adequate to satisfy a claim by the trust or any authorized participant. The referenced guarantee does not apply to fluctuations in the value of shares based on the price of gold which could create potential losses. Gold owned by the trust may be subject to loss, damage, theft or restriction on access.
The trust is not a mutual fund or any other type of investment company within the meaning of the Investment Company Act 1940, as amended, and is not subject to regulation thereunder. The value of your shares fluctuates based upon the price of the gold held by the trust. Fluctuations in the price of gold could materially adversely affect your investment in the shares. Investors should be advised that there is no assurance that gold will maintain its long-term value in terms of US dollar value in the future. The lack of an active trading market for the shares may result in losses on your investment at the time of disposition of your shares. Because the trust invests only in gold, an investment in the trust may be more volatile than an investment in a more broadly diversified portfolio. Substantial sales of gold by central banks, governmental agencies and multi-lateral institutions could adversely affect an investment in the shares.
The request for the exchange of shares for gold is subject to a number of risks including but not limited to the potential for the price of gold to decline during the time between the submission of the request and delivery. Delivery may take a considerable amount of time depending on your location. The trust may suspend redemptions of baskets by authorized participants and Gold Corporation may suspend or reject the exchange of shares for physical gold, which could affect the market price of the shares. The withdrawal of an authorized participant and substantial redemptions by authorized participants may affect the liquidity of the shares.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day at 4:00pm.
Marketing Agent: Foreside Fund Services, LLC
