ONE OF the world’s top gold exchange traded fund providers yesterday struck a deal with the Royal Mint to help punters exchange their investment for physical gold bullion.
ETF Securities, which looks after $12.2bn of gold-backed exchange traded products (ETP), has joined forces with the 1,000 year-old British institution to allow its Gold Bullion Securities to be traded for sovereign or britannia coins.
The securities can be redeemed for the gold coins or stored in the Royal Mint’s vaults in Wales under the agreement.
Royal Mint director of bullion Shane Bissett said. “The VAT-free status of gold coins in the UK, and the fact that they are capital gains tax free for UK residents, as announced by the chancellor of the exchequer, is an added attraction.”
The Royal Mint has a history minting coins since 900 AD. Gold ETPs were introduced by ETF Securities in 2003.