MORE people are being encouraged to take the plunge and become gold investors by a new bullion trading website launched by the Royal Mint.
The new website could spark a gold rush by broadening the appeal of the bullion coin market and making it easier for people to buy from a trusted source at prices which the Mint said are "relatively affordable".
It allows consumers to buy bullion coins struck in gold or silver directly from the Mint as well as being able to sell coins back if they wish to.
Consumers may have been put off gold in the past due to worries about the complexities of investing, the Mint said.
The royalmintbullion.com website constantly updates live prices for gold and silver at a rate linked to the current precious metal price, helping budding investors as well as those who are more experienced to pick the best moment to buy.
Customers can have the coins delivered to their home through an insured postal service.
Alternatively, if they have bought gold coins they can opt to store them in 'the vault' - the Royal Mint's on-site precious storage facility which is protected around the clock by the Ministry of Defence.
Storage fees are charged at 1 per cent of the market value of the gold being held plus VAT per year.
The Royal Mint will also give customers a quote to buy back gold coins which have been bought from its website and stored in the vault. The money will then be deposited back into a Royal Mint bullion account that the customer has set up before buying the gold.
There are no set-up fees to open an account and beginners who are looking to dip a toe in the water may want to consider a Britannia Silver Bullion coin, which is priced at around £20, or a Sovereign Gold Bullion Coin, which costs around £200. Prices are constantly updated in line with the fluctuating price of precious metal.