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UK's Royal Mint will sell pension investors gold they can never see
Royal Mint Opens Gold Vault to Pension Investors
By Josephine Cumbo
Financial Times, London
Wednesday, June 8, 2016
The Royal Mint is to open up its gold vaults to UK pension investors for the first time.
From Wednesday, Royal Mint will make some of its gold bars available to investors wanting to hold it in tax-efficient pension pots.
"For UK citizens, this is the first time that Royal Mint gold bullion has been authorised by HM Revenue & Customs ... for holding in specific pensions," said Chris Howard, the Royal Mint's director of bullion. ...
... Dispatch continues below ...
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Investors are to be offered a choice of bullion, from Royal Mint Refinery 100-gram and 1-kilogram bars, to Signature Gold -- a service that allows customers to purchase and own a share of a 400-ounce gold bar. ...
Investors will not be able to opt for less expensive Royal Mint bullion coins to hold in their pensions because the products have not been authorised by HMRC. ...
Pension investors purchasing gold bars through the Royal Mint will not be able to take delivery of their purchases as they will be placed in storage in "The Vault," the Royal Mint's secure storage facility in Wales. ...
... For the remainder of the report:
http://www.ft.com/cms/s/0/458731ea-2cb2-11e6-a18d-a96ab29e3c95.html
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