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Online bullion accounts: Investing in platinum has never been so easy

3 October 2018

A growing number of investors are choosing online bullion accounts as their preferred method of buying platinum

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Online bullion accounts enable investors to purchase, store and sell physical platinum via a web-based platform – exclusive of VAT – while enjoying some of the lowest fees available.

Historically, private investors, particularly in western markets, have had two main ways of buying platinum: bars and coins, or physically backed exchange-traded funds.

However, since 2017, two of the world’s leading providers of precious metals investment to the retail market – BullionVault and The Royal Mint – have launched online bullion accounts for investing in platinum.

Opening and funding an account is a swift and simple process that enables individuals to trade fractional platinum (i.e. platinum of any size less than a single ounce or gram) at some of the most competitive prices on the market.

What is an online bullion account?

Prior to the introduction of online bullion accounts, buying into the precious metals market posed two key challenges for private investors:

  1. the closed nature of the professional market meant that private investors had no means of accessing the most competitive bullion prices;
  2. private investors then had to overcome the cost and practical difficulties of insuring and storing the metal

Online bullion account providers aim to bring down the barriers to investment by offering direct access to the professional market and automatically storing the purchased bullion in fully insured, high-security vaults.

Via the online platform, private investors can access the most up-to-date and competitive platinum prices and trade 24 hours a day, 365 days a year, exclusive of VAT. Starting with as little as GBP20, investors can buy platinum in any quantity they wish, and take advantage of low annual management and storage fees.

 

The 'Good Delivery' guarantee

Since online platforms were introduced, tens of thousands of ounces of platinum have been purchased in this way by investors looking to complement private portfolios or pension plans.

Both BullionVault and the Royal Mint also provide quality-assured platinum that meets the industry-approved ‘Good Delivery’ standards for purity and size. These standards are set out by the London Bullion Market Association, and refineries must produce bullion to these standards in order to be featured on the Good Delivery list.

Investors purchasing Good Delivery platinum via online bullion accounts will own professionally approved and refined, high-quality platinum bars as traded – and trusted – by the banks and trading houses that form the international professional bullion market.

For more information on opening an online bullion account, visit:

Contacts:

Sally Singer, Investor Development, [email protected]
Brendan Clifford, Investor Development, [email protected]
Trevor Raymond, Research, [email protected]
Vicki Barker, Retail Investor Communications, [email protected]

WPIC does not provide investment advice.
Please see disclaimer for more information.