“I’ve the gold you requested for,” says the safety guard as I arrive on the Welsh dwelling of the Royal Mint – Britain’s historic coin-making and gold storage establishment.
It is five years since the Mint launched its “precious metals” division, permitting buyers to purchase its gold. For these unable to afford a full-sized gold bar – price round £400,000 at as we speak’s costs – final month it additionally launched an exchange-traded commodity (ETC). This can be a listed fund that permits buyers to purchase small portions of gold.
For somebody with £100, the scale of gold is about the identical as a micro Sim card in your cellphone. An oz., the usual measure for gold, is fairly underwhelming. It’s a small strong sq. not a lot larger than three 20p items, however would set buyers again greater than £1,000 to purchase.
The bigger bar is price £40,000. I ask the guard whether I could see the main vault itself, the place all of the gold is stored, together with a portion of Britain’s reserve in addition to all of the gold purchased by non-public buyers. He’s impervious to my charms, and isn’t forthcoming.
“I do know precisely the place it’s and the way a lot gold is in that vault however I’m not telling you something,” he says.
