The Royal Mint revives gold brand

Investors can now buy gold bars with The Royal Mint Refinery brand

The Royal Mint revives gold brand

The Royal Mint is expanding its bullion range to offer gold and silver minted bars bearing the historic marque of The Royal Mint Refinery brand. This is the first time since 1968 that customers will have an opportunity of owning newly minted precious metal bars bearing the prestigious ‘RMR’ initials, and the first time ever that they will have been available direct to the public from The Royal Mint.

The Royal Mint Refinery marque dates back to 1852. Operated for more than 100 years by N.M. Rothschild and Sons, it became an established brand with a strong reputation for handling much of the gold and silver bullion sent to London from across the globe for processing under the RMR label. Royal Mint Refinery became a trustworthy name that survived the First and Second World Wars and served an ever evolving bullion market until production ceased in 1968.

Lisa Elward, The Royal Mint’s head of International Sales and Bullion, said: “The Royal Mint’s reputation as a bullion provider is well respected across the world, so we are thrilled to be able to add minted bars bearing the historic Royal Mint Refinery marque to our bullion range. The combined heritage and integrity of the two brands is an added reassurance to customers looking for a cost effective way of buying gold and silver from a trusted source.”

The Royal Mint Refinery bars come in either 999.9 fine gold or 999 fine silver, come in a range of weights and are VAT free to individuals. (However, they are not free of capital gains tax unlike gold sovereigns, which are still legal tender.)

“UK citizens looking to enhance their Self-Invested Personal Pension (SIPP) or Small Self-Administered Scheme (SSAS) can benefit from up to 45% tax relief on their purchase of gold RMR bars if bought through their pension scheme,” added Elward.

SIPP requirements

If you have a self-invested personal pension (SIPP) then you can invest in physical gold. However, in order to hold real, physical gold bullion in a pension it needs to meet three strict criteria.

• Firstly the gold must be of a certain investment grade; a purity of no less than 99.5%

• Secondly it must be held in a secure environment like a vault (usually this is done by a third party) but it must be accessible within 30 days

• Thirdly the gold must be in the form of bars or a wafer (a sliver of gold).

Investors should seek advice before making such a move and ensure that the price they buy the gold at is competitive.

The writers holds physical gold.

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About Author

Christopher Menon

Every Investor Editor Chris Menon is a financial journalist who has written regularly for national newspapers, magazines and websites about personal finance, with particular emphasis on investing.