The UK Royal Mint has announced plans to launch a precious metals vaulting service, as well as increase the gold content of the Britannia from 92% to 4 9’s- matching the Canadian Gold Maple in purity.
The Royal Mint of Britain is going to offer a vaulting service to high net worth clients. “We will offer a vaulting service to our larger customers,” Shane Bissett, director of bullion and commemorative coin at the Royal Mint, said in a telephone interview today. “At some stage in the future we may look at offering that to individuals.” Britain’s Royal Mint’s announcement is on the heels of Barclays Plc expansion into opening a precious metals vault for its customers in September and Deutsche Bank will follow suit in March.
In 1968, The Royal Mint of Britain relocated from London’s Tower Hill to Llantrisant, Wales. Britannia coin sales doubled in Q1, and grew “slightly less” in the subsequent months, Bissett said. The mint plans to change gold Britannia coins from 92% pure gold to 99.99%.