More in this section

Great News? The Royal Mint wants you to buy gold bars.

In an era when FA% interest on your savings seems only too common, has the Royal Mint hit on a winner with gold as a safe haven?

It has just announced that it will sell you gold bars and even get them to you in the post. While the postie might complain a bit about lugging around lots of the 100 gramme bars (£2850 to you, madam, sir) that 1 gramme bar at £49.20* should hardly trouble him at all.

Once it has arrived, you can enjoy your oldest form of stored wealth. You can  look at it a bit, hold it (probably best not to take it out of the protective pack as it makes it harder to sell as a buyer might think it’s been tampered with) and then start to worry about where you will keep it. You may also develop the habit of looking at the gold price every day to see if your store of wealth has increased or decreased overnight.

Does it really make sense? If you want a bit of fun and to tell (discretely) your close friends that you’ve “gone long on gold” that’s fine. But for seriously looking after your hard earned money, aren’t there better things to do?

Think of ISAs. Think of planning so you can lock away money on longer dated savings accounts. Think of the Windfall Bond.

Think of using your savings to help young people get on the housing ladder with the Family Mortgage.

If the urge to buy some gold is overwhelming, here’s a suggestion. Get it as jewellery and give it to someone you love.

Author: Jonathan Haslam

Your home may be repossessed if you do not keep up repayments on your mortgage

*Prices correct as at 23/1/2015

comments powered by Disqus
Family Building Society
Ebbisham House
30 Church Street
Surrey KT17 4NL
Follow Us