And finally…Going for gold - The Royal Mint unveils £20 a-time gold trading service
The Royal Mint is now giving everyone the chance to be gold speculators after yesterday launching a new bullion trading service that allows punters to buy tiny fractions of gold bars at prices as little as £20.
The scheme guarantees customers full ownership over their gold which comes in the form of a fractional amounts of a 400 oz bar, with all bullion purchased stored in ‘The Vault’, The Royal Mint’s precious metal storage facility, which is protected at all times by the Ministry of Defence.
Buyers will then hold full legal title over every ounce that they purchase, with the flexibility to buy and sell as they choose.
The Mint said the large bars of gold enable customers to purchase the commodity based on value rather than weight, providing “increased control and flexibility” and allow it to offer “economies of scale and pass on the savings”.
It added that the scheme is “the most cost effective way to own physical gold” and “offers customers a complete end-to-end service from initial purchase to sale”.
The new service, which the Mint said would “open up the world of gold trading to everybody”, joins its existing range of gold and silver coins and bars already on offer to customers.
Martin McDade, The Royal Mint’s director of bullion, said: “The launch of our online bullion platform last September opened up gold trading to an audience that may previously have been put off by the perceived complexities of the market.
“With the introduction of Signature Gold, we hope to expand this audience even further. With prices starting at just £20, this means bullion trading is more accessible than ever and with The Vault® storage facility, we can offer customers complete peace of mind from start to finish. Our 1,000 year history and world-renowned heritage means that we are globally recognised as a reliable authority on precious metals.”
The Royal Mint’s existing bullion trading website, www.royalmintbullion.com, allows customers to buy, store and sell bullion directly from The Royal Mint and provides constantly updated live prices for gold and silver at a rate linked to the current precious metal price.
The Royal Mint said opening an account with its bullion trading platform is quick and simple, and once confirmed customers can begin trading straight away.