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If you're looking to invest in precious metals, such as gold and silver, finding the best place to purchase these metals from is essential. The Royal Mint, the United Kingdom's government-owned mint offers bullion and other precious metals coins for investors.
Is Royal Mint Bullion the best place to purchase precious metals? What have past customers said about their experiences purchasing metals from them? Continue reading, and we'll outline everything you want to know about the Royal Mint to determine whether you want to use them to diversify your portfolio and invest in gold, silver, or platinum.
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About Royal Mint Bullion
The Royal Mint is one of the leading exporters of bullion. They also have one of the longest production histories of any mint and have been minting coins for over 1,000 years. In addition to producing bullion coins and bars, the Royal Mint's main purpose is to produce all the currency for the United Kingdom.
In addition to this, they also mint special coin collections, create opportunities for investors, and more. The Royal Mint is a government-owned organization. It is part of Her Majesty's Treasury (Queen Elizabeth II).
Royal Mint Bullion offers a variety of solutions to address the needs of different individuals. These solutions include:
The Royal Mint's website shares the company's vision. Their vision is to put the customer first in everything they do to deliver first-rate services and products to each individual.
Investing In Bullion
Investors can purchase gold, silver, and platinum bullion bars and coins from Royal Mint Bullion. The bullion bars feature Britannia, the female symbol for Britain, along with the RMR logo exclusive to the Royal Mint. Each bar features a unique serial number and is securely packaged for protection. Various weights of gold, silver and platinum bars are available for purchase.
Royal Mint Bullion also offers gold, silver, and platinum bullion coins. Some of the available offerings include:
If you're a collector, you can easily get lost in wonder looking through the Royal Mint's website. They offer a large selection of both rare currency and historic coins. A few of the coins you can choose from include:
If you've been looking for an easier way to invest in precious metals, consider setting up a DigiGold account. With a DigiGold account, you can make trades in real-time for fractional quantities of gold, silver, and platinum. You'll still benefit when the prices of precious metals increase, but you won't be tied to owning any specific coins or bars. All the coins and bars for DigiGold accounts are securely stored in The Vault.
Little Treasures Savings Funds
Royal Mint Bullion also offers something special called Little Treasures Savings Funds. These savings funds are a way for you to set your children, or other important children in your life, up for a financially secure future. With a Little Treasures Savings Fund, you can set up for automatic monthly investments or make lump sum purchases of digital gold for your little one's fund. Online management features are available to help you keep track of their account and watch the value grow.
Vault Storage Through Royal Mint Bullion
When you invest in precious metals, you want to take appropriate measures to ensure the safety and security of each item. One of the best ways to do this is to store your metals in a secure location. The Royal Mint offers its customers the opportunity to do just this.
"The Vault" is their highly-secure storage solution that is located within the mint. This location should give you confidence that your precious metals will remain protected and in pristine condition until you're ready to take over custody of them or sell them to make a profit. When you purchase bullion through the Royal Mint's website, you can choose to have your items stored in The Vault.
If you have any other precious metals you would like to store, Royal Mint Bullion also offers safety deposit boxes. These safety deposit boxes are also located securely within the mint to keep your items protected.
Selling Precious Metals to Royal Mint Bullion
Do you have gold, silver, or platinum coins or bars that you're looking to sell for cash? If so, you may be able to do so with Royal Mint Bullion. They offer competitive pricing based on the current value of each precious metal.
If you're interested in selling your metals, you can complete the form on the website to request a quote. Shortly after submitting your request, a member of the team will respond to you with an offer. If you decide to accept the offer, you'll receive directions for packaging and shipping your precious metals to Royal Mint Bullion.
Upon arrival, Royal Mint Bullion will inspect each item, verify its authenticity, and issue your payment. You should receive your payment about a week or so after your items arrived at the Mint.
If you'd like to get an idea of about how much your precious metals are worth, you can use the price calculator on the website. Simply, select whether you're looking to sell gold, silver, or platinum. Then, choose the product type, enter the number of coins or bars you have to see, and the weight of each item. The calculator will display the estimated purchase price.
Can You Set Up an IRA with Royal Mint Bullion?
Royal Mint Bullion is not an IRA custodian. If you are looking to set up an IRA and want to purchase coins or bars from Royal Mint Bullion, you will need to find a separate IRA custodian company, work with them to set up the IRA, and designate Royal Mint Bullion as the precious metals dealer you'd like to work with. This sounds a bit complicated because it is. If you're looking to set up an IRA, you may find it easier to choose a company that serves as both an IRA custodian and a precious metals dealer.
Are There Any Red Flags for Royal Mint Bullion?
While Royal Mint Bullion is a government-owned company, you will still want to do your research and look for any red flags that may steer you towards finding another company to work with. Looking through reviews from past customers is one way to do this. You can learn a lot about a company and their practices by reading reviews from past customers.
We looked to find reviews for Royal Mint Bullion on four well-known review sites: the Better Business Bureau, the Business Consumer Alliance, TrustLink, and Trustpilot. As you can see below, the only site that had any reviews was Trustpilot.
A lack of reviews, consider so many other gold investment companies have hundreds of reviews, allows for more questions and wondering about how the company conducts business. Add this to the fact that the one site that had reviews (Trustpilot), listed an overwhelming number of negative reviews. An average rating of 2.5 out of 5 stars is really low and worrisome.
Is Royal Mint Bullion a Scam?
No, Royal Mint Bullion is not a scam. It is a legitimately-run government business. However, simply because Royal Mint Bullion is not a scam company, we'd still advise against using them to purchase precious metals.
First, since it is the mint for the United Kingdom, you are only able to purchase British coins and bullion. Most other precious metals dealers offer a selection of coins and bars from multiple mints, so the available selection will be much slimmer with Royal Mint Bullion.
Another reason we'd advise you to go with a different investment company is that Royal Mint Bullion is not an IRA custodian. This means that if you are looking to set up a Precious Metals IRA, you will need to work with a separate company to set up the IRA and with Royal Mint Bullion to secure the coins and bars you want to add to your account. This just makes the whole process more complicated than simply choosing one precious metals company that both sells precious metals and can serve as an IRA custodian.
Perhaps the biggest reason to stay away from Royal Mint Bullion is the reviews from past customers. Out of the four review sites we checked, only Trustpilot had reviews. And, the reviews on Trustpilot were extremely negative. The average of the reviews was 2.5/5 stars, with 64% of reviewers giving the company just a 1-star rating!
With that number of negative reviews, you might guess that there are numerous issues that customers cited, and you'd be right. Reviews complained about customer service and responsiveness, the quality of the products they received, delays in shipments, and delivery issues.
With all of the negative reviews, the lack or selection, and the inability to set up an IRA, Royal Mint Bullion is definitely not a company you want to work with.
If you came to this review to learn whether Royal Mint Bullion is the right company for you to use invest in precious metals, we hope we've convinced you to take your business elsewhere. Between the limited selection of coins and bars, the fact that Royal Mint Bullion is not an IRA custodian, and the numerous poor reviews that cite issues with product quality, customer service, delivery, and other problems, Royal Mint Bullion is not the best company to work with.
The good news, however, is that there are plenty of excellent options out there. Many precious metals companies solve all the problems that exist with Royal Mint Bullion: they offer a large selection of coins and bars, serve as an IRA custodian, and place a high emphasis on product quality and customer service. We'd advise you to do a bit more research and choose one of these companies to work with instead.
Although we do think that Royal Mint Bullion is a decent company, we believe that there are better companies out there to make your investment with.
Or you can get a free precious metals investment kit from our #1 recommended company right now!
Or, continue with Royal Mint Bullion...