Royal Mint sells gold bullion for pensions

You can now buy gold from the Royal Mint to hold within your pension.

Gold has been available to hold within a pension for several years: the Financial Conduct added physical gold Bullion to its list of standard assets in 2014, meaning that financial advisers can now assist clients wanting to include physical gold in their pension planning through regulated pension schemes.

Now, Royal Mint gold bullion is also eligible for holding in Small Investment Personal Pension (SIPP) and Small Self-Administered (SSAS) Schemes. Under the scheme, gold is required to be of a minimum 99.5 per cent purity. Royal Mint bullion, though, already exceeds this, with a purity of 99.9 per cent.

Investors wishing to take advantage of The Royal Mint’s long-standing reputation for integrity and accuracy are offered a choice of bullion to hold in their pension, ranging from Royal Mint Refinery 100g and 1kg bars, to Signature Gold – a service that allows customers to purchase and own a fractional amount of a 400oz gold bar. Once bought, the gold is stored in The Royal Mint’s secure bullion vault, which is guarded by the Ministry of Defence.

Director of Bullion at The Royal Mint, Chris Howard, says: “The Royal Mint benefits from a centuries-old reputation as a trusted bullion provider and manufacturer of coins on a global scale. The move to make Royal Mint gold bullion available for holding within pension schemes opens us up to a whole new marketplace. This is a natural progression in The Royal Mint’s aim to provide the complete one stop bullion solution.”

The announcement arrives as gold’s appeal increases amid a time of uncertainty surrounding the UK’s possible exit from the European Union, following a referendum on 23rd June. Indeed, gold has long been a safe haven asset for investors, thought to offer protection from fluctuations in stocks and shares. The value of gold has already risen by almost 20 per cent since the start of 2016. However, The Telegraph notes that “many of Britain’s biggest pension providers will not make the service available to their savers”, which means that for those looking to add gold to their portfolio, there are other options available that can be simpler and cheaper.