Swap your gold shares for coins, ETF firm offers


By Kyle Caldwell
The Telegraph, London
Thursday, August 22, 2013


For the first time private investors can convert the value of their gold ETF shares into real gold coins.

Index fund provider ETF Securities has teamed up with government-owned coin maker Royal Mint to offer investors with shares in its leading exchange-traded fund Gold Bullion Securities the option of cashing in shares for physical bullion coins.

Exchange-traded funds have mushroomed in recent years as a popular way for private investors to own gold. Real holdings of gold, stored in bank vaults, are represented by shares which trade daily on the London Stock Exchange. This makes it possible for investors to buy and sell cheaply -- and in relatively small quantities.

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But the barriers to entry are high. Investors must stump up L8,250 -- which equates to 109 shares in Gold Bullion Securities -- to purchase a tube containing 10 Britannias. A tube of 25 Sovereign coins is cheaper at L4,800. There is no tax to pay on the switch, ETFS says.

ETF Securities has provided an online calculator to enable investors to covert the value of their shares into coins, which will be delivered one week after the transaction has been processed.

A spokesperson for ETF Securities said giving investors the option to exchange their investments into physical assets provides a source of comfort.

"Product innovation is a key element of our philosophy and as such this partnership with the Royal Mint is a natural fit. It has become increasingly important to reassure investors that their securities are backed by physical gold," said a spokesperson for ETF Securities.

"This new service enables our retail clients to switch their holding knowing that their gold coins can be safely stored with or delivered by a UK government-owned and regulated entity."

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