As the price of silver hits an eight year high, The Royal Mint has reported a surge in sales of physical and digital precious metal sales since last Thursday.
Over the weekend The Royal Mint saw fourteen times the usual demand for its silver products as investors flocked towards physical bars and coins as well as digital silver.
Andrew Dickey, Divisional Director of Precious Metals for The Royal Mint, said: “We have seen record demand for silver over the past few days and a surge in new customers looking for precious metals. The price of silver has increased by around 19% to its highest level in eight years, and our silver bullion products have proved extremely popular. The spike in demand has resulted in an increase in new precious metals investors, many of whom are opting to buy via our digital precious metals platform, ‘DigiGold’. DigiGold is a cost-effective way to buy fractional silver, gold or platinum from £25 via an online account. It allows investors to react quickly to market volatility as they can buy or sell their metal 24/7.”
Traditionally known for making coins, The Royal Mint has grown rapidly into the precious metals market over recent years. It is now the primary producer of bullion coins in the UK, as well as offering a range of digital investment platforms which enable investors to buy and sell fractional gold without taking custody of the metal. All digital holdings are backed by physical bullion bars which are stored in The Royal Mint’s vault, which is one of Britain’s most secure sites.