The Royal Mint’s annual earnings show the firm has seen the highest profits in 12 years, with PMs accounting for roughly 86.7% of revenue. Gold Silver Economics
UK's Royal Mint Reveals Record Profits Amid Significant Demand for Physical Gold and Silver
While the price of gold has dropped in value from the asset’s all-time high on March 8, the U.K.’s oldest precious metals company, the Royal Mint, saw record profits over the last 12 months. In fact, the Royal Mint’s annual earnings show the firm has seen the highest profits in 12 years, with PMs accounting for roughly 86.7% of the Royal Mint’s revenue.Precious metals demand has skyrocketed, according to the recent annual profits accrued by the Royal Mint over the last 12 months.
“It is the second consecutive year that the Royal Mint’s profit has been driven entirely by its consumer-facing divisions as the use of circulating coin declines — helping to safeguard the business and employment for the future,” the Royal MintThe Royal Mint’s annual earnings follow the U.K.-based PMs dealer Ash Kundraon October 1, that the firm ran out of physical gold coins and bars over significant demand for bullion. Ash Kundra cited that the recent PMs demand stemmed from the U.K.
“[The Royal Mint] has seen the U.K.’s oldest manufacturer successfully evolve into a consumer brand, expanding into precious metals investment products, the sale of historic coins, jewellery, and luxury collectibles,” the Royal Mint’s annual report declares.While there’s been a lot of demand, the price of gold and silver per troy ounce has dropped against the U.S. dollar during the last 220 days. On March 8, the nominal U.S.
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