The Royal Mint, which is wholly-owned by the Treasury, turned in a pre-tax profit of £12.1mln for the year to 31 March 2021 as interest from young investors rose fivefold.

Sales of gold and silver doubled over the 12-month period, aided by a 430% increase in millennials flocking to the Royal Mint’s online DigiGold platform to take advantage of a spike in commodity prices.

Revenue rose by more than 80% to slightly less than £1.1bn.

The mint makes coins for the UK and more than 30 other nations, as well as special premium-value coins, such as one that was manufactured to mark the Queen’s 95th birthday.

The Royal Mint recorded record international sales of its commemorative coins, particularly in the US and Asia. Coins with representations of cultural figures were particularly popular.