Royal Mint opens to Sipp investors

Royal Mint opens to Sipp investors

The Royal Mint has opened up its gold vaults to UK pension investors for the first time.

From last week, Royal Mint said it would make some of its gold bars available to investors wanting to hold it in self-invested personal pensions (Sipps) and small self-administered schemes (Ssas).

Chris Howard, the Royal Mint’s director of bullion, said: “For UK citizens, this is the first time that Royal Mint gold bullion has been authorised by HM Revenue & Customs for holding in specific pensions.

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“We expect this move to be well received by pension providers.”

Investors are to be offered a choice of bullion, from Royal Mint Refinery 100g and 1kg bars, to Signature Gold, a service that allows customers to purchase and own a share of a 400oz gold bar.

Royal Mint gold bullion is linked to the live gold price. A 1kg Gold Bar Cast can be purchased from about £28,000.

Investors will not be able to opt for less expensive Royal Mint bullion coins to hold in their pensions because the products have not been authorised by HMRC.

Claire Trott, head of pensions technical at Talbot & Muir, said: “It is great that Royal Mint is making investing in gold a simpler thing for investors to do.

“We do from time to time have enquiries from people wanting to do this because of the security they see in physical gold.

“We already have a relationship with Royal Mint and can see this new facility opening up gold investment to those that have previously been put off by the complexities.”

Adviser View

Chris Daems, director of Cervello Financial Planning, said: “Investment in gold, physical or otherwise, is a tiny proportion of our current clients’ portfolios.

“So, while having a small element of physical gold in an individual’s portfolio might be worth considering, it won’t make up a significant part in any portfolios held on our clients behalf.”