The Royal Mint Bullion Review 2023: Poor Customer Ratings?

June 30, 2023

The Royal Mint Bullion Review

Welcome to my The Royal Mint Bullion Review. Feel free to browse through all your needed information below!

Gold IRAs (Individual Retirement Accounts) have become increasingly popular in recent years because they offer investors a number of benefits, including portfolio diversification and inflation hedging.

Due to its massive rise, a lot of Gold IRA scams has victimized unaware investors. Millions of money is lost yearly due to fraudulent precious metal companies. To prevent that from happening to you, taking precautions such as company background checks are vital.

Are you interested in buying gold or silver from this company? In this The Royal Mint Bullion review, you shall learn everything you need to know about them and whether they are worth it or not. Let's get started.

The Royal Mint Bullion Review Quick Summary

Name: The Royal Mint Bullion

Website: www.royalmint.com/

Owners: HM Treasury

Price: Varies depending on your investment

Rating: 3/5

The Royal Mint Review company logo

What is The Royal Mint Bullion?

The Royal Mint Bullion is the bullion division of United Kingdom's oldest company and official maker of British coins, The Royal Mint. It is run by the government and has been minting since way back 1957.

Way back, the market heavily suffered from counterfeiting. The Royal Mint Bullion division was then established to subject coins and other forms of precious metals through strict regulations, ensuring that they are of the highest quality and meeting standards of security.

Today, The Royal Mint Bullion is a trusted and reputable name in the bullion market. It is also a a leading provider of precious metal products, including bullion coins, bars, and ingots. It also offers a range of investment services, such as storage and IRAs.

As of the year 2022, the company boasts over £1.2 billion in revenue, a huge increase from £900 million in 2021.

Where Is The Royal Mint Located?

The company is headquartered in Llantrisant, South Wales, which is also the location of their visitor center. They have several other offices that are located in London, Birmingham, and Edinburgh.

As of the year 2023, The Royal Mint does not have any offices outside of the UK. However, they do have a network of authorized distributors who sell their products in other countries.

They reach Asia, Europe, North America, Oceania, and Middle East. Please take note that not all countries are not currently available for shipping.  You can contact their customer service for more information.

The Royal Mint Products

The Royal Mint Bullion offers a variety of precious metals that include gold, silver and platinum, in forms of coins and bars. Furthermore, it offers world coins, signature coins, commemorative coins, and collectible coins.

To give you a more expanded view on their products, these are the following that are currently available on their website at this time of writing:

  • Gold: The Sovereign, the Britannia, the Lunar Series, the Queen's Beasts, The Queen's Platinum Jubilee, the 2022 FIFA World Cup, and the Windrush 75th Anniversary. They also got gold bars in weights from 1g to 1kg.
  • Silver: The Britannia, the Queen's Beasts, the Lunar Series, The Queen's Platinum Jubilee, the 2022 FIFA World Cup, and the Windrush 75th Anniversary. They also got silver bars in weights from 1g to 10kg.
  • Platinum: The Queen's Platinum Jubilee, The Platinum Britannia, The Royal Tudor Beasts, and the Queen's Beasts. They offer 1 oz, 10 oz, and 1 kg platinum bars.
  • Jewelry: The Royal Mint produces various kinds of precious metal jewelries including necklaces, rings, bracelets, earrings, brooches, and pendants. They also accept custom jewelry services so you can have your own unique accessory.

Again, The Royal Mint products are made from high-quality materials. It undergoes strict processing to pass the high standards. Rest assured, their products are legitimate.

The Royal Mint IRA Services

The good news is, bullion coins and bars from The Royal Mint, as well as DigiGold, are now available via Individual Retirement Accounts (IRAs) in the United States. They did not have this service before as they were only a dealer company.

They have collaborated with New Direction Trust Company (NDTCO) to offer precious metals services. NDTCO is a self-directed IRA custodian that allows investors to hold a variety of assets in their IRAs, including precious metals, real estate, and private equity.

To open a precious metals IRA with The Royal Mint Bullion, you will need to create an account with NDTCO and then transfer your existing IRA funds or roll over an existing IRA into the new account. You can then purchase precious metals from The Royal Mint Bullion through NDTCO.

For existing customers of They Royal Mint who are looking to open a self-directed account with NDTCO, they give you a promo to waive all account opening fees by using the unique promo code ROYALMINT upon registering.

The Royal Mint Prices and Fees

Generally, The Royal Mint's prices and fees for their products depends on the current market price of the precious metal and of course, the weight or amount of the metal bought.

Most importantly to note, The Royal Mint charges a premium in their precious metals products. It is usually around 1-2% but can typically higher for products that are more rare or collectible or for products that are shipped to international destinations.

On the positive side, the company does offer discounts on certain products or for bulk purchases. Below are examples of the current costs of precious metal coins and gold bars as shown in their website:

  • The Royal Arms 2023 1/10oz Gold Coin: £192.28
  • The Royal Arms 2023 10oz Silver Coin: £26.34
  • Britannia 1g Gold Bullion Minted Bar: £71.94
  • Britannia 10g Gold Minted Bar: £570.24
  • Britannia 1oz  Gold Minted Bar: £1,576.28
  • Britannia 100g Silver Minted Bar: £80.58
  • 1kg Silver Cast Bar: £669.81

You can access their website to check the up-to-date and exact prices and fees in their own catalogue of products. It is also easier to search for certain products in the website with their filter feature.

Storage Services

The Royal Mint offers storage services for their customers. The fees are solely for the amount of time you are storing your precious metals. The company does not dish out hidden charges, and they do not ask for vault extraction fees.

There are two categories that you can fall under their storage service in their trademark The Vault® . The following is explained below:

  • Single Coin Capsules: 1g, 5g, 10g and 20g gold Bars in any quantity are charged for 2% + VAT per annum based on the average daily market value of your total metal holding.
  • Coin Tubes and Bars: Larger than 20g gold, silver and platinum bar storage fees are charged at 1% + VAT based on the average daily market value of your total metal holding.
  • DigiGold: Management fees are charged at 0.5% + VAT per annum based on the average daily market value of your total gold holding.

If you are not able to pay the fees within the given time, you may pay at a later date but a late payment fee will be charged. The rate is 0.50% of the overdue balance, you will be charged every month that the outstanding balance isn't fully paid.

Their The Vault® is a safe and secure vault facility located in Llantrisant, South Wales. It is guarded tightly 24/7, 365 days a year by trained security staff, ensuring the best protection for your precious metals.

In addition, your bullion, coins, and bars are all fully insured, adding more confidence to potential customers. Lastly, you can track the value of your metals online and access them any time you want.

Shipping Services

The Royal Mint shipping fees varies depending on the shipping option you chose and/or the shipping destination that you assigned to receive your package. The following are the prices for them:

  • UK (Standard): £3.00 for orders under £20.00, free for orders over £20.00.
  • UK (Recorded): £5.00 for orders under £250.00, free for orders over £250.00.
  • UK (Special Delivery): £9.00 for all orders.
  • International (Standard): £12.50 for all orders.
  • International (Express): £25.00 for all orders.
  • International (Next day): £45.00 for all orders.

Standard is the most affordable shipping option, it typically takes 2-3 weeks for delivery. Express is a faster shipping option, it typically takes 1-2 weeks for delivery. Meanwhile, Next Day is the fastest which only takes 1 business day.

Do not that these prices are subject to change, please check the current shipping prices on The Royal Mint website to find more information.

Education Services

The Royal Mint offers a unique, engaging, and more interactive way of learning about precious metals and minting histories. These are free educational services that are open for both students and teachers.

  • Coins in the Classroom: This is a free resource that provides teachers with lesson plans and activities that use coins to teach a variety of subjects, including math, history, and science.
  • The Royal Mint Museum: The Royal Mint Museum offers a variety of educational programs for students and teachers, including tours, workshops, and lectures.
  • The Royal Mint Learning Hub: The Royal Mint Learning Hub is an online resource that provides teachers with access to a variety of educational materials, including videos, articles, and lesson plans.

Both The Royal Mint museum and The Royal Mint Learning Hub can be found at its location Llantrisant, South Wales. Learn about the history of coinage, the science of precious metals, and the economics of money, all in these exciting facilities.

The Royal Mint DigiGold

DigiGold is a convenient and cost-effective way to own physical gold, silver, and platinum without having to buy a whole bar or coin. You can purchase fractions of these bars to the nearest 0.001 oz, starting at £25.

This is a great option for investors who want to own precious metals but don't have enough capital. For assurance purposes, your DigiGold are held securely in The Vault®. Plus, you will have have legal title to owning it.

Take note that DigiGold, digital silver, and digital platinum enables you to purchase fractions of a large bar, therefore, the small portions that you purchased cannot be delivered to you, unless you've completed investing the price of the larger bar.

Payment Options

The Royal Mint is a bit strict and limited with its paying options, compared to other precious metal companies. The following are a summary of their accepted payment methods:

  • Visa
  • Mastercard
  • American Express
  • PayPal
  • Direct bank transfer

They do not accept cash or checks as payments. If you must choose within their accepted options, The Royal Mint will not charge you any additional fees for using any of them. 

Buyback, Returns, and Cancellations

You can sell back your purchased products back to the company. The Royal Mint offers its clients flexibility at competitive rates. Moreover, the costs of these precious metals will be based on the current live market price.

The Royal Mint has a 14-day returns policy for all products. You will be granted a full refund within 14 days of receiving it. However, there are a few exceptions, such as products that have been personalised or products that have been damaged.

You can either send the precious metals to them via track and trace delivery service or deliver it to them yourself.

Lastly, there is a 24 hour window for order cancellations after placing it. To cancel your order, you will need to contact The Royal Mint customer service and support team.

The Royal Mint Customer Service

The customer service and support of They Royal Mint is generally considered to be great. Their service team is available 24/7, while also having a variety of ways to contact them and ask for help regarding any concerns.

They are said to be knowledgeable and understanding based on customer reviews. The have their phone and email information in their website, as well as a live chat feature that is convenient and easy to use.

The best thing about The Royal Mint's customer support is that they have a comprehensive help center that includes articles and videos to help customers with their orders, account management, and other questions. You can find this in their website under the FAQs tab.

Where Can You Buy From The Royal Mint?

Well, first and obviously, you can purchase precious metal products in They Royal Mint website. To make transactions easier and faster, I would advice you to create an account with them. At this point, it's as easy as adding items in your basket and checking them out. 

Make sure you check the delivery information before you finalize your order transaction. You will then receive an email confirmation of your order. Depending on your mode of shipping, your order will be shipped within 2-3 weeks of acceptance.

If you are from outside of UK and USA, the company has a network of official distributors around the world that you can make orders with. Examples are House of Stamps, Poongsan, ICL, Taisei, tsm, and LPM for Asia.

Who Owns The Royal Mint?

As said earlier, The Royal Mint Bullion is the bullion division of The Royal Mint, United Kingdom's official maker of British coins. It is owned and run by the government, specifically by the Treasury Solicitor on behalf of Her Majesty's government.

The following are the executive team that are in collaboration running and managing the company: 

  • Anne Jessopp - Chief Executive Officer
  • Graham Love - Non-Executive Chairman
  • Amanda Cridland - Chief People Officer
  • James North - Chief Financial Officer
  • Rohan Miller - Chief Commercial Officer

The Royal Mint Compared To Other Bullion Dealers

Before you invest in precious metals, it is important to do your research and understand the risks involved. There are many reputable precious metals companies, but there are also some scams out there.

The following below is how The Royal Mint Bullion fares against major competitors like Goldco, Acre Gold, and Augusta Precious Metals.
The Royal Mint Bullion Review

4.2/5

Products

Gold, platinum, silver, jewelry, collectibles

Services

Buying, selling, storage

Shipping

Free shipping on orders over £250.00. Shipping is £5.00 for orders under £250.00.

Money Metals logo

4.4/5

Products

Gold, Palladium, silver, platinum, and rhodium

Services

Buying, selling, storage, loans

Shipping

Free shipping for orders over $500. $7.97 shipping for orders under $500.

Acre Gold Logo

4.0/5

Products

Gold monthly subscriptions ranging to $250

Services

Selling and storage

Shipping

Free shipping for orders over $299. $9.95 shipping for orders under $299.

Goldco Logo

4.5/5

Products

Gold, platinum, silver, rare coins, and palladium

Services

Buying, selling, storage

Shipping

Free shipping for orders over $25k. Shipping fee depends on orders under $25k.

The Royal Mint Ratings

If you are a constant reader of our website, you will know that we really are keen on showing how these precious metals companies are rated by trusted experts in the industry.

Unfortunately, The Royal Mint does not have a BBB profile. However, we are going to see how this company is rated and reviewed from other reputable websites. (UPDATED JUNE 2023).

The Royal Mint Trustpilot Rating

The Royal Mint Bullion Review

Although they are a verified company with this reputable website, The Royal Mint has a poor grading in their Trustpilot profile. Out of 537 customer reviews, they have received a 2.4/5 star rating. This is relatively low.

In addition, there are multiple complaints filed against them from dissatisfied customers. This is quite a red flag especially when they have been in operation for multiple decades.

The Royal Mint Facebook Rating

The Royal Mint Bullion Review

In their Facebook rating, The Royal Mint has received a 3.8/5 star rating out of 1216 customer reviews. Higher number of reviews tend to speak a lot regarding the quality of a company's business, and it certainly lies to be mid for the company.

The Royal Mint Reviews.io Rating

The Royal Mint Bullion Review

The company has received a 2.8/5 star rating  out of 54 reviews from the site Reviews.io. The company just accumulated a lowly 41% recommendation from reviewers. 

It seems that Royal Mint Bullion has poor ratings and reviews online. This is a huge downside if you are deciding on buying from this company.

The Royal Mint Complaints

The Royal Mint has an overall good reputation for their customer service, but there have been some mixed complaints from customers. If you are considering purchasing from The Royal Mint, I recommend you to read these comments to get a better idea:

Complaint 1
Complaint 2
Complaint 3

These are just some of the many complaints that you can see from Trustpilot and Facebook. It's mainly about bugs and glitches in the website, products being much more expensive compared to other precious metal companies, and slow processing of refunds.

I recommend you to cross check prices between companies so you can have a better look at the best deals for your potential investments. Also, be keen on your orders so you do not have to return and ask for refunds because these sometimes can be a hassle.

Company Pros and Cons

Pros

  • A wide variety of precious metals
  • Run by the government which means it is legit
  • High-quality products 
  • Secure payment methods

Cons

  • Poor ratings and reviews
  • Lacks ratings and reviews
  • Prices are higher compared to competing companies
  • Reports of slow response times during peak hours

Is The Royal Mint a Good Investment?

The Royal Mint's products can be expensive compared to competing precious metal companies. However, I can say that its high-quality and standards are worth the price for some people. But, for the average investor, the additional expenses may be too much.

Also, it depends on the product you are buying. Commemorative coins and collectible coins does not appreciate well over time. Although they are deemed to be legal tender, they are rarely accepted as payments in most shops or banks. 

Consequently, if you really want an investment, you should go for their bars and bullion. These are guaranteed to make profit, if the prices of Gold also increases over time.

Ultimately, whether or not The Royal Mint is a good company to invest in solely depends on your individual investment plans and available resources. 

Is The Royal Mint Bullion Legit?

Let's conclude this The Royal Mint Bullion Review with my answer to this question. The Royal Mint Bullion is run by the government. With that, there is no doubt that it is legit. 

However, the question is, are its products that good? Well, based on the ratings and reviews I found, they are much expensive resulting to customers becoming dissatisfied with them. I would say the quality of the products they offer make up for it though. 

Furthermore, most clients are happy and pleased with the excellent services that they have. With this, I recommend you to try out other companies. Check out my top recommended precious metals, Goldco.

Thank you so much for reading my The Royal Mint Bullion Review. If you have any comments or questions, feel free to leave them in the comments section.

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Anis is a digital marketing expert that enjoys writing blogs and helping people avoid scams online; he is passionate about investing in real estate and gold; in his free time, Anis loves playing football, going to the gym, and hanging out with friends.


By the way, if you are tired of scams and want to invest with a legit gold company, check out my 6 top legit gold IRA companies of 2024!

Anis

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