Did you know that 1 gram (0.035274 ounce) of platinum can be
stretched into a mile-long wire? Or that all the platinum ever
produced would only cover your ankles in an Olympic-sized pool?
You don’t need to know these fun facts to be an investor, as the
Royal Mint has recently made it easier for individuals to get into the
platinum game. In November, the Royal Mint expanded its Signature
bullion line to include platinum and silver alongside gold.
Starting with as little as £20, precious metals investors can now
add these new products to their portfolio via the Royal Mint's trading
platform. Investors can purchase a fraction of a physical gold,
platinum or silver bar, retaining full legal ownership. The bars are
insured and held in the Royal Mint’s secure precious metal storage facility.
“We are thrilled to see that the Royal Mint has diversified its
Signature range to include platinum, particularly as the offering is
VAT free when purchased in this way through the Signature platform,”
said David Crawford from the World Platinum Investment Council in a
press release. “Platinum is a precious metal that benefits from
healthy demand and constrained supply and the Signature platform
provides … the public a new and convenient way to purchase this rare
and valuable metal.”
All three metals can be purchased in 0.001-ounce (0.0311-gram) units
and are priced at the market spot price at the time of purchase and a
premium. The purchase doesn’t attract VAT on any metal; however, the
storage/management fee is subject to VAT at standard rates.
The premium percentage depends on the total amount spent (the more
you spend, the lower the premium), ranging from 2 to 1 percent
(platinum), 4 to 1 percent (silver), and 1 to 0.5 percent (gold).
Platinum and silver purchases include a management fee of 1 percent
plus VAT per annum, based on the average daily value of the total
holding in each metal. Gold purchases include a management fee of 0.5
percent plus VAT per annum, based on the average daily value of the
investor’s total gold holding.
The platform is available for transactions 24/7, so investors can
trade their metals at any time.
For more information, visit www.royalmint.com/signature.