The Royal Mint has seen sales of its bullion coins soar to a new record high as Britons flock to invest in precious metals amid turmoil in the financial markets.
The UK’s official maker of British coins said the surge reflects people turning to so-called “safe haven” assets in a bid to protect their wealth.
Between January and March, revenue from bullion coins was quadruple the amount generated in the same period a year ago, The Royal Mint revealed.
It also jumped 46% when compared with the previous three months, between September and December.
The coins are made from precious metals including gold, silver and platinum and feature different designs, and are typically sold as an investment product.
The Royal Mint said it reflected the strongest start to the year since it first started selling the coins online.
Demand was driven by a combination of gold prices spiking and more people making purchases – with many buyers attracted to bullion coins being exempt from capital gains tax, according to the firm.
The tax applies to profits when people sell an asset that has gone up in value, but its bullion coins are exempt for UK residents because of their status as British currency.
The total weight of gold coins sold tripled over the period, while revenues of gold coins soared 329% compared with last year.
The price of gold rose to hit an all-time high on multiple occasions during the quarter – most recently reaching 3,500 US dollars (£2,623) per ounce last week.
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Experts say the precious metal tends to carry less risk than other investments, such as stocks and shares, and often outperforms financial markets during periods of turbulence.
US President Donald Trump’s tariff announcements earlier in April sparked sharp drops in asset prices across global equity markets, as traders reacted to uncertainty and the escalation of global trade tensions.
Meanwhile, interest in other precious metals has also spiked in recent months, The Royal Mint said, with sales of silver bullion coins more than doubling year-on-year.
It also reported growing appetite for platinum, with the number of buyers rising 23% compared with the first quarter of 2024.
Stuart O’Reilly, market insights manager at The Royal Mint, said: “The sustained surge in gold demand shows the growing appeal of safe-haven assets in today’s economic climate.
“This activity signals a shift in investor sentiment, as more individuals seek to protect and grow their wealth amid global volatility.”
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