Royal Mint - "Wealth Management"

kate4doom

Anyone got any experience of the royal mint wealth management service?

If you try to buy over 50k£ of gold coins the normal shopping cart seems to not work and you have to apply to this service. The website makes very vague claims about "Access an exclusive pricing structure for physical bullion".

If I go through the rigmarole of applying to this wealth management thing are the prices actually better?

Or is it easier to put through a number of smaller purchases? Or do they allow this?

UpDownLeftRight

https://forums.moneysavingexpert.com/discussion/6681634/royal-mint-wealth-management

I read your previous post here in March.

Are you trying to convert the bitcoin sale you did into gold coins (GCT exempt) to resell later in a few months and avoid AML checks for a house deposit?

It won’t work and could be considered fraud.

kate4doom

https://forums.moneysavingexpert.com/discussion/comment/82121662#Comment_82121662

No. Completely separate. Just wondering if there is any benefit to the hassle of signing up to this service v just buying on website. As covered in the previous thread GCT was paid on that.

UpDownLeftRight

To purchase over £50,000 in bullion, you’ll have to contact the telephone number listed on the Royal Mint checkout page.

There are going to ask you questions about how much bullion you need and how you are going to store it and how it will be delivered and etc. They will give you a price.

You have to complete full KYC and AML checks before they will give you the bullion.

You can’t purchase the bullion on the Royal Mint website in less quantities as the system will flag up the previous transactions. You will be blocked from purchasing again. You may be asked to complete KYC and AML checks.

Royal Mint have to follow the same regulations as banks in KYC and AML checks.

UpDownLeftRight

Have you purchased a safe to store the bullion safely?

Have you looked into insurance policies in bullion purchases?

kate4doom

https://forums.moneysavingexpert.com/discussion/comment/82121720#Comment_82121720

Not looking to take physical delivery. You are jumping to conclusions left and right.

UpDownLeftRight

https://forums.moneysavingexpert.com/discussion/comment/82121724#Comment_82121724

On your first post you said you were looking to purchase over £50,000 in gold coins on the Royal Mint website using the normal checkout method and you were told to apply for the wealth service. You said if you can purchase gold coins in small quantities to avoid the hassle of using the wealth service.

I thought you were going to purchase the physical gold coins for personal storage.

If you are looking to buy via the investment service then you will need to apply.

kate4doom

https://forums.moneysavingexpert.com/discussion/comment/82121734#Comment_82121734

You can buy for storage in their vault, at any quantity. Lets just stop. You are not being helpful. The question was if the prices are better. Nothing to do with KYC or AML.

UpDownLeftRight

https://forums.moneysavingexpert.com/discussion/comment/82121737#Comment_82121737

I’ve got experience in this and prices are better in larger quantities. Bullion prices change often. Storing in the vault will have extra annual storage fees that will need to be factored into the purchase.

The KYC and AML checks are going to be the largest part of the process of purchasing large quantities of bullion.