Study by The Royal Mint reveals a significant gender gap in investing, citing insufficient knowledge as a key contributor
- 51 percent of adults want to get into investing, but the majority (76 percent) claim their lack of knowledge has been holding them back
- Just over a quarter of females say they regularly* invest, compared to more than half of men
- 37 percent of surveyed women said they understand the basics of investing, compared to 56 percent of males
- The Royal Mint launch their precious Metals Academy, a range of educational resources
- The Royal Mint will hold a webinar specifically tailored towards women, on the basics of investing with financial expert Jasmine Birtles and not-for-profit organisation GAIN
New research from The Royal Mint reveals more than half (54 percent) of UK adults feel their knowledge is limited when faced with decisions around investing, with 70 percent saying they would like to learn more. The majority (76 percent) wanting to get into investing, identify a lack of knowledge on the subject as a reason for not doing so - but the results differ considerably between genders.
The Royal Mint's DigiGold platform recently saw a 430 percent increase in the number of young people investing year-on-year, but whilst investing is certainly on the rise, it seems women are being left behind. There is a significant gender gap, both in investing itself and the sentiment around it, with only 26 percent of surveyed women more than regularly* investing, even though 53 percent say they would like to. In contrast, 51 percent of surveyed men claim to invest at least regularly. Further to this 41 percent of women rarely invest compared to only 14 percent of men.
This may in part be down to a lack of investing knowledge, with only 37 percent of surveyed women claiming to understand the basics of investing; this is compared to 56 percent of males. When thinking about investing decisions, 54 percent of women said that they felt overwhelmed and didn’t know where to start when it comes to choosing how to invest their money, versus 39 percent of males.
In order to help those who wish to invest, The Royal Mint is working with financial and fintech expert, author and TV personality Jasmine Birtles, and not-for-profit organisation GAIN (Girls Are INvestors) to host a webinar that looks to support women who want to further educate themselves when it comes to investing. The webinar will focus on providing insights and information at an entry level, without providing specific financial advice. For those who are interested in finding out more about investing in gold specifically, The Royal Mint has also developed a precious Metals Academy, a virtual hub packed with articles, guides, videos and other activities, which is completely free to access.
Karina Hicks, Head of Precious Metals Marketing at The Royal Mint, said: “Our customer database shows that significantly more males purchase gold, silver and platinum for investments purposes compared to females and this recent research has showed that the issue is broader than just precious metals. It’s not surprising to see that there is an evident gap in knowledge of investing amongst females which, has led to a disproportionate amount of women investing and building for their future.”
Karina continued: “The Royal Mint is one of the minority businesses that has a mean gender pay gap in favour of women, with a steady increase of appointments of women to senior roles over the last three years. With women represented at all levels of the business, empowering women is high on the agenda here and we see this webinar as a great example of this; to provide a free educational resource to support them in any future investment decisions they may choose to make.”
Tanya Tracey, Chief Executive of GAIN, comments: “The Royal Mint’s recent research echoes our own findings and we too feel that more should be done to encourage and educate potential investors, particularly females who are underrepresented. I am looking forward to working with The Royal Mint on this upcoming webinar, and see it as a great opportunity for people to receive a free, informal introduction and the opportunity to ask questions to the panel in an educational forum. We hope that as a result, more women will feel educated to either invest or pursue a career in investing and GAIN is here to inspire girls to get into the industry.”
Jasmine Birtles, Financial Journalist and Founder of Money Magpie, comments: “I am delighted to see The Royal Mint taking such a positive step in introducing their precious metals academy for people who feel under-equipped to make investment decisions. The results of their research is really interesting although not surprising when it comes to the statistics around women, as many I have spoken to have echoed this sentiment. During the webinar, I’ll discuss my experiences of being women in the financial industry and hopefully it will serve to support and inspire more women to consider investing in the future.”
The ‘Women and investing webinar with The Royal Mint’ is free and can be accessed by signing up here. The webinar will take place at 11am on Thursday 18th November 2021.
To find out more about investing with The Royal Mint, visit: https://www.royalmint.com/invest/get-into-gold/. The Royal Mint’s Precious Metals Academy which includes beginner, intermediate and advanced level courses can be found by visiting: https://www.royalmint.com/invest/investing-in-precious-metals/precious-metals-academy/
Notes to Editors
*regularly defined as on a monthly basis
The survey was conducted by Censuswide, on behalf of The Royal Mint including a general population of 2,001 general consumers from the 1st October 2021 to 4th October 2021.
About The Royal Mint
With a history spanning more than 1,100 years, The Royal Mint is Britain’s oldest companies and the original maker of UK coins. Today The Royal Mint is a premium British maker, providing carefully crafted coins and precious metal products for the UK and overseas. Based in Llantrisant, South Wales it has three main focuses as a business: Currency, Consumer (collectable and rare, historic coins) and precious metals investment.
Collecting with The Royal Mint:
Every coin tells a story, from a rare gold Sovereign to a Peter Rabbit™ 50p coin. The Royal Mint aims to inspire collectors young and old, and nurture a love of collecting through unique designs and popular themes. As the maker of UK coinage, we have unparalleled knowledge about coins, from the historic coins of our past, through to the collectable commemorative coins of today. Sourcing and authenticating pre decimal coins is a natural fit for The Royal Mint as we struck each one.
Investing with The Royal Mint:
As a world authority on precious metals, The Royal Mint has traded and made products in gold and silver for centuries. Since launching its designated precious metals investment arm six years ago, The Royal Mint has grown rapidly to become the home of gold in the UK – increasing its market share and becoming the largest producer of bullion coins in Britain. As well as offering physical precious metal investment options in the form of bars and coins, The Royal Mint also offers a range of digital investment options including DigiGold, Little Treasures, designed for children, and Gold for Pensions
Celebrating with The Royal Mint:
For over a thousand years The Royal Mint has marked the moments that changed the world on coins - from coronations to conflict, from commemorations to celebrations. The designs are captured on commemorative coins, minted in a range of metals. Commemorative coins do not always enter circulation but give collectors the chance to purchase coins to keep and cherish. Recent themes have included David Bowie, Winnie the Pooh, Decimalisation and Team GB. Each commemorative coin is carefully struck up to three times in order to create a superbly detailed finish, and ensuring each one meets the standards The Royal Mint is famous for.
The Royal Mint Experience
The Royal Mint opened its popular visitor centre, The Royal Mint Experience, at its home in Llantrisant, South Wales in 2016. The award-winning attraction welcomes around 200,000 visitors a year and is the place to explore the 1,100-year history of coins.
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