Buying silver in Western Australia
Silver has one price in Australian dollars across Australia, and investment silver (silver of at least 99.9% fineness, in bars, wafers or bullion coins) carries no GST anywhere. What differs in Western Australia is how second-hand silver buyers are licensed and how long they must hold what they buy, and the rules for fossicking.
Silver has one national spot price in Australian dollars: the prices on this page are the same as on the silver price in Australia page. What differs in Western Australia is how dealers are regulated and other local rules, explained below.
Selling silver or jewellery to a dealer in Western Australia
- Licence: A pawnbroker and/or second-hand dealer licence from WA Police (Police Licensing Services) is needed; it covers dealing in second-hand goods such as jewellery, watches and precious metals. One licence per premises, up to three years; applicants must advertise their intention to apply.
- The law: Pawnbrokers and Second-hand Dealers Act 1994 (WA); Pawnbrokers and Second-hand Dealers Regulations 1996
Fossicking for gold in Western Australia
You need a licence or permit to fossick in Western Australia.
Where: Available Crown land. A Section 40E permit or the holder's written permission is needed on exploration licences, and written permission on mining leases and prospecting licences. On pastoral leases, stay 100 m from occupied buildings and 400 m from livestock watering points unless the pastoralist agrees. Not allowed in national parks, nature reserves or townsites.
Rules: A miner's right (from any Mining Registrar's office, per-person fee) allows prospecting with hand-held tools such as metal detectors and keeping samples up to 20 kg. Fill holes and repair ground; carry water, maps, first aid and a registered personal locator beacon. Maximum penalty for illegal prospecting is AUD 150,000 for an individual.
Check the state's current rules and any land-access permission before you go: national parks and many reserves are closed to fossicking. Compare states: gold fossicking rules across Australia.
Silver in Western Australia: history
Arthur Bayley and William Ford found gold at Coolgardie in 1892, reportedly taking over 500 oz in one afternoon. In June 1893 Paddy Hannan and Tom Flanagan found gold at what became Kalgoorlie. These finds started the 1890s Western Australian gold rush. Silver is mainly a by-product in WA; in 2021 the Golden Grove base-metals mine (EMR Capital) was among Australia's five largest silver producers, with about 2.9 million oz. The Perth Mint in East Perth opened on 20 June 1899 as a branch of Britain's Royal Mint and passed to the Western Australian government on 1 July 1970. It is run by Gold Corporation, wholly owned by the WA government, and sells bullion coins and bars (including the Nugget/Kangaroo gold coin launched in 1987 and the Kookaburra silver coin from 1990) and buys and sells gold over the counter.
- 1890s · Western Australian gold rush: Arthur Bayley and William Ford found gold at Coolgardie, setting off the Western Australian gold rush, followed by rushes around Kalgoorlie.
- 1899 · Perth Mint opens: The Perth branch of the Royal Mint opened to process Western Australian gold. It made about 106 million sovereigns in the years up to 1931.
- 1970 · Perth Mint passes to WA: The Western Australian government took ownership of the Perth Mint.
- 1982 · The Perth Mint Swindle: Thieves took 49 gold bars weighing 69 kg, worth over A$650,000 at the time. The Mickelberg brothers' convictions were overturned in 2004, and they were paid A$1 million in 2008.
- 1987 · Australian Nugget bullion coin: After federal approval in August 1985 and a first proof coin in late 1986, the Perth Mint launched the Australian Nugget bullion coin, with Prime Minister Bob Hawke present. It sold 155,000 ounces on day one, and the kangaroo design replaced the nugget in 1989.
- 2012 · The one-tonne gold coin: The Perth Mint made a one-tonne gold Kangaroo coin, almost 80 cm across, confirmed by Guinness World Records as the largest gold coin in the world.
More: history of gold in Australia.
GST and tax on silver in Australia
For GST, 'precious metal' means gold of at least 99.5% fineness, silver of at least 99.9% or platinum of at least 99%, in investment form (bars, wafers or bullion coins with a recognised fineness mark, traded at prices linked to spot). Other supplies of precious metal are input taxed (s 40-100), so no GST is charged on resale of investment bullion. Jewellery, numismatic and proof coins, and unmarked granules are not 'precious metal' in investment form, so normal GST rules apply.
Collectables such as jewellery and coins or medallions are subject to CGT unless bought for AUD 500 or less; capital losses on collectables can only be offset against capital gains on collectables. Individuals who hold an asset for at least 12 months can generally reduce the capital gain by 50%.
AUSTRAC rules for silver dealers
From 1 July 2026, dealers who buy or sell precious metals, stones or products for AUD 10,000 or more in physical currency or virtual assets (including linked transactions that add up to AUD 10,000) are regulated under the AML/CTF Act reforms. Dealers that will accept or pay AUD 10,000 or more in cash or virtual assets had to enrol with AUSTRAC by 1 July 2026 and need an AML/CTF programme; a streamlined customer due diligence process is available for low or medium risk individuals paying cash. Dealers can stay outside regulation by not accepting cash or virtual assets at all, or by accepting them only below AUD 10,000 per transaction and watching for linked transactions.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.