Chunks of gold have gone on sale in the UK. The Royal Mint is making fractions of gold bars available to the public for as little as £20.
It is the first time that the Mint has made gold available by price rather than fixed weight which will grant entree to more individual investors.
But rather than having the gold pieces jingling in the pocket, the fraction will remain on the bar and in the Mint’s vault, which has 24 hour protection from the Ministry of Defence Police.
Previously investors could buy only coins or entire bars. The least expensive gold coin fetches around £95 today and a whole bar some as £820.
The Royal Mint created the “signature gold” service precisely to open up the gold trading market for smaller investors.
Buyers hold full legal title for every ounce and can bought and traded online 24/7. An annual management fee of 0.5% of the gold’s value, plus your VAT on top, covers the cost of security, insurance, and administration.
The website royalmintbullion.com gives the fluctuating prices.
