British mint to sell gold and silver

The British Royal Mint wants to make investing in precious metals accessible to a larger group of investors and savers. For the first time in 47 years, the mint will go direct again Selling gold bars to private individuals. Silver bars are also included in the range. recorded.

The new gold bars and silver bars are stamped by the Royal Mint Refinery (RMR) and have a purity of 99.9%. The gold bars come in weights ranging from 1 gram to 100 grams with prices at the time of writing being £50.01 and £2,891.39 respectively. Of the silver bars, only a 100 gram copy is currently available, at the time of writing it has a price of £71.46 for 1 copy and a price of £58.43 for a purchase of more than a hundred copies. All bars come in a plastic holder and have a unique serial number.

Gold Coins

To date, the Royal Mint has only produced Gold Investment Coins as well as the Britannia and the Golden Sovereign. The Britannia is a 24 carat 1 troy ounce coin that is available in both gold and silver. The sovereign, also known as the British pound, is an investment coin weighing almost 8 grams from 22 carat gold.

The Royal Mint's new gold bars are tax-exempt and can be included in savings schemes such as the Self-Invested Personal Pension (SIPP) and the Small Self-Administered Scheme (SSAS). In this way, individuals can receive up to 45% tax benefit on the purchase of the precious metal.

In the Eurozone, gold is exempt from VAT and you only pay capital gains tax if your assets exceed approximately €21,000. Silver bars are subject to the high VAT rate, which is set at 21% in the Netherlands. A margin scheme is in force for silver investment coins, whereby tax is only paid on the profit margin.

Interest in precious metals is on the rise

The fact that the Royal Mint includes investment gold in its range proves that there is also an increasing interest in investing in precious metals in the United Kingdom. Due to the ever-decreasing interest rates, it is becoming less and less attractive to put money in a savings account. As a result, more individuals are considering gold as an alternative to savings.

Source: Royal Mint