The Egyptians wanted to be buried in gold while others believed that King Midas could turn anything he touched into gold. These days, however, gold simply has connotations of wealth due to the precious metal’s rareness, and this is nowhere more apparent than in the UK.
As a result, many potential first-time investors are questioning whether gold might just be the precious metal to be investing in. With the Royal Mint expanding its operation by allowing potential investors to purchase gold bullion in the form of “relatively affordable” coins online, it’s now easier for first-time personal investors to purchase gold. The problem is that now, everybody is doing it, and this could possibly result in a dangerous crash.
Royal Mint Launches Its Affordable Coins
If you’ve never invested before – whether in precious metals, oil, FOREX or company stocks & shares, you might have often asked if gold is any better. After all, even when the greenback collapses, gold can remain a constant, making it a more stable, reliable thing to invest in.
For this reason, the UK’s Royal Mint has opened a gold coin trading operation which allows precious metal investors to purchase new gold and silver coins with the ability to also have them stored hassle-free at a cost of 1.2% of the overall cost of your investment. A variety of different items can be purchased, from a single gold coin, to a £4,625 “Sovereign” to a £7,800 “Britannia”.
As you can see, one of the main aims of this new “buy online” scheme is to broaden the availability of gold as an investment opportunity to more people, and by offering gold at a range of prices for a range of budgets, this goal might just be achieved.
The Problem with Accessibility
Of course, one of the crucial issues with making any investable asset more accessible is that it means that more people can own it, in turn decreasing its rarity, and in turn decreasing its inherent value. Thanks to this move by the Royal Mint, therefore, gold might slowly be turning into a poor precious metal to invest in. Consequently, if you are thinking about investing in gold, it may be wise to follow the investment news pages of a company such as Sanlam, that can help you gauge whether gold is actually still worth investing in, or whether it would probably be better to invest in something else.
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