The Royal Mint is hoping to lure retail investors looking to buy into gold or silver with a trading website that it hopes will tap into demand for the precious metals.
People will be able to buy both 24-carat gold and silver bullion coins from royalmintbullion.com at any time of the day and at prices that are linked to live prices of both metals.
“Where the average consumer may have shunned gold due to perceived complexities, The Royal Mint can help make this option a much more accessible opportunity,” said The Royal Mint’s director of commemorative coin and bullion, Shane Bissett. “We want to help expand the bullion market in the UK, particularly as coins offer a relatively affordable introduction – and believe we are well placed to do so.”
A 31.21 gram gold coin was trading around £809 through the exchange yesterday, while a silver one was trading around £19.
As well as buying coins, investors can opt to have coins delivered to them or have The Royal Mint store them in its vault in South Wales, another move that the Mint says will cut down on the barriers to purchasing precious metals.