Here’s How Much You’re Saving with Minted

how much saving minted

When buying gold with Minted, you’ll be saving a lot of money in the long run.

That’s because we built Minted with our customers in mind; right from the beginning, our aim was to make buying gold accessible and affordable for everyone. Our founders were frustrated with what they saw on the market, and so decided it was time there was a platform that made buying gold easy. In this post we’ll be covering a few ways you’ll be saving money when choosing Minted.

 

Lowest fees on spending amount

At Minted, we pride ourselves on having some of the lowest fees on the total spending amount when buying gold. Here is a comparison table with the total fees compared with several other well known UK dealers.

Note: these are the fees we charge on our monthly savings plan

UK Spot price £43.32

      

Amount

Minted

Gold Dealer A

B

C

D

£30

19%

N/A

N/A

N/A

N/A

£50

18%

N/A

N/A

N/A

N/A

£100

15%

40.26%

35.61%

36.20%

45.34%

£200

11%

27%

26.43%

25.20%

35.21%

£300

8%

24%

23.52%

22.98%

33.28%

£400

7%

22.23%

20.32%

19%

29.87%

£500

6%

19.52%

14.21%

12.87%

28.81%


The main issue with fees is that it can be hard to find out what exactly your dealer is charging. Many fees are often obscure and hard to find on the website, and sometimes you won’t find out the total fees until you sign up and are about to buy your gold (or even after you buy your gold!). 👎

At Minted, we wanted to make things as clear as possible, so our users know exactly what they’re paying when they’re buying gold. That’s why you can see all our fees on our Terms and Conditions page.

By investing your gold with Minted, you could save up to £30! 🎉

 

Lowest fees on spot price

The spot price is the price of gold at every instant. It’s the total price you’ll be paying for a troy ounce of gold, without paying any added premiums (the fees). The spot price changes from second to second and fluctuates according to the market. Here is a table with the premium we charge on top of the gold spot price.

Note: these are the fees we charge on one-off purchases

 

 

Minted

A

B

C

D

10g

8.5%

19.44%

14.34%

12.95%

27.84%

50g

8.5%

13.85%

10.39%

11.34%

N/A

100g

7.5%

10.90%

9.27%

10.42%

11.04%

250g

7.0%

10.42%

8.96%

9.65%

N/A

500g

7.0%

9.97%

8.56%

9.24%

9.96%

1kg

6.5%

9.52%

8.20%

10.25%

9.08%

Once again, these are the prices we found on other gold dealers’ websites on a specific date. The prices vary over time and some dealers don’t include “fabrication costs” and other additional fees (see below for more detail).

By picking Minted, you could save up to £94 on a gold spot price of £48 per gram! 😲

 

What you buy is what you own

Most gold dealers buy gold in kilos and then sell smaller amounts to their customers. The issue is that in order to deliver your portion of gold, they first need to smelt the gold kilo bar into a smaller gold ingot and then deliver it to you. This means that really, the gold you buy does not truly exist until you ask to get it delivered.

Not only does this mean that it takes longer to receive your order of gold, but you won’t know how much you need to pay for that gold bar until you receive it at your doorstep. You’ll also need to pay the “fabrication costs” of smelting kilo gold bars into bars of gold grams, which could cost another tens of pounds.

With Minted, what you buy is what you own. We only purchase 10 gram bars of gold and hold it in our vault. That means that once you’ve bought 10 grams of gold with Minted, you’ll get your gold delivered the next day and only pay for shipping.

What about the shipping fee? We use the Royal Mail for delivery, and currently they charge £8.99 for deliveries that are worth £2,500. If you’re getting your 10 grams delivered, you’ll only need to pay £8.99 in shipping fees!

 

No commitment, start small

Once again, at Minted our mission is to make buying gold accessible. We believe gold should be part of every person’s savings, and we want to make the process as smooth as possible. The main issue with traditional gold investing is that it usually requires a large upfront investment, signing a contract, or committing to a specific amount.

We wanted people to be able to purchase gold for reasonable prices with smaller amounts. With Minted, you can buy gold for as little as £30 – no deposit, no contract and no joining fee. All you will need to get started is £30 and (soon) a smartphone to access gold. A great way to start a habit is to start small – and now you can do this with Minted.

By picking Minted, you are saving yourself the stress of having to commit a large amount of your money to gold.

 

Free storage and insurance on the first 12 months (up to 200 grams)

We know that getting started with investing can be a little intimidating at first. That’s why we wanted to make the first few gold purchases as easy and simple as possible.

With the Minted promotion, you won’t need to pay storage or insurance on your first 12 months of buying gold with us. Once your 12 months are up or you own more than 200 grams, storage and insurance costs 0.05% of your total account with a minimum of £1.99 per month.

Many other gold dealers charge at least £5 per month for storage and insurance – with Minted, you’ll be saving at least £23 on your first year with us.

 

No hidden fees

Many gold dealers charge monthly fees and maintenance fees to manage your gold. They might also charge unexpected fees or simply not disclose or breakdown all your fees.

We founded Minted because we were frustrated with exactly this issue: lack of transparency. Too many dealers require you to create an account or spend hours researching to find out their total fees. Our mission is about making gold accessible, so we do not charge hidden fees or hit you with an unexpected charge.

With our Minted dashboard and app, you’ll be able to access Minted from anywhere and at any time. We won’t charge you to open an account, and you’ll be able to start with as little as £30. Don’t want to contribute anymore? No problem, you can easily pause your contributions at any time.

Not only are our fees transparent, but we work hard to make the entire gold buying process as seamless and easy as possible. You won’t see complex words, contracts or hidden costs anywhere on Minted. Check out our Minted blog and you’ll be diving down the rabbit hole of gold! 🐰

 

Sell at better rates than the high street

Want to sell your gold? You can easily sell your gold from the Minted platform or app, and we’ll buy it back at better rates than the high street. The transaction will be instantaneous and you’ll receive your money the next day. You won’t need to worry about committing or selling a certain amount before doing it. If you’re itching to touch and feel your own gold, you can simply choose to get it delivered home. 🚛

We built Minted because we weren’t satisfied with the options available to buy gold. We created a platform that we would want to use ourselves, and every feature is designed with our customers in mind. With Minted, your gold will be saving you money, stress and time!

Araminta Robertson

Araminta Robertson

Araminta is a financial writer and self-professed Fintech nerd. She likes writing about investing, the future of payments and of course, gold.
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Disclaimer: Gold prices can fluctuate over time and may increase and decrease. The Minted App Ltd does not accept any responsibility for any loss caused by information provided on the website. Minted is not an investment advisor and recommends doing research before making a purchase.