By launching an online facility to buy gold via a dedicated trading platform, the British government’s Royal Mint is entering into competition with retail electronic trading firms, as well as offering British investors a stable investment in commodities
The Royal Mint, Britain’s government-owned body which is authorized to manufacture the coins of the United Kingdom, has announced that it is to operate a service which provides the sale of precious metals to retail clients for physical delivery.Silver minted bars are available in 100 gram units, while the gold bars range from 1 gram to 100 grams, whereas depending on the price of the precious metals at the time of purchase, a 1 gram gold bar could cost around £40, while 100 grams could be around £2,800.
Established in 886, the Royal Mint has a reputation for solidity and traditional manufacturing of sovereign currency, and is not normally associated with the ultra modern world of online commodities trading, however by providing this service, the organization is to some extent entering into competition with online trading companies, many of which have been keen in recent years to include silver and gold to the range of instruments traded on retail platforms such as MetaTrader 4.
There is, however, another aspect to this service which may appeal specifically to British investors, and that is the direct accessibility of precious metals with no intermediary, and physical delivery at a point in time in which the future of the European Union’s economy is continually under a microscope.
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