Hatton Garden: The Growing Hub for Gold and Silver Bullion Dealers

The History of Hatton Garden

Early Foundations of Hatton Garden London

Hatton Garden has a rich history tied to British royalty, dating back to its namesake, Sir Christopher Hatton, who was gifted ownership of Ely Place by Elizabeth I. Sir Hatton was a politician who enjoyed a meteoric rise to power, becoming Lord Chancellor in 1587, and was a personal favourite of Elizabeth I. The property he received included a magnificent garden, which later combined with his surname to form the now-famous 'Hatton Garden'.

Image Credit: Public Domain

Hatton Garden's Growth: From Elite Neighbourhood to Jewellery District

Over a century later, in the mid-1700s, Hatton Garden became a highly sought-after location for wealthy individuals. By the 1800s, improvements to London's infrastructure, including better roads, helped transform Hatton Garden into a commercial hub. Following these developments, many jewellery and watchmakers set up businesses in the area, growing substantially by the mid-1880s.

Did you know that around the same time jewellery businesses were flourishing in Hatton Garden in the mid-1880s, the machine gun designed by Sir Hiram Maxim was created in a small factory there in 1881? This weapon was later used in conflicts such as the South African Boer War and the Spanish-American War.

What's Hatton Garden Like Present Date?

Today, Hatton Garden is home to over 300 businesses, many specialising in jewellery, the diamond trade, and, notably, the growing demand for precious metals such as Hatton Garden gold and silver bullion. The area continues to attract more bullion dealers, further solidifying its reputation as a hub for precious metals investment. If you’re unsure what bullion is, our bullion guide explains that bullion refers to precious metals like gold and silver, valued by weight and purity, and commonly traded as coins or bars for investment purposes.

How Hatton Garden Became London’s Bullion Trading Hub

Hatton Garden's transformation into London’s bullion trading hub dates back to the 19th century. Its proximity to the financial district made it an ideal location for traders and investors seeking secure transactions. As demand for investment bullion grew, many traditional jewellers in Hatton Garden began offering gold and silver bullion products as investment opportunities. This shift was driven by rising gold prices and increasing interest in asset diversification. Today, Hatton Garden is renowned for its network of reputable bullion dealers, secure vaults, and expertise in precious metals, cementing its status as a central hub for bullion trading in the UK.

Gold Price Performance Since 1964

When Chards Coin and Bullion Dealer was first established over 60 years ago in 1964, the cost of 1 ounce of gold was roughly £12.50. Today, the equivalent of £12.50 would be closer to £320 - although you would struggle to buy an ounce of gold with that sum of money.

Over the past 60 years, the pound experienced an average inflation rate of 5.54% per year. This means that prices today are about 25 times higher than the average prices in 1964. For a detailed overview and step-by-step calculation, please refer to (Appendix A) in the appendices section.

In 2024, the gold price reached multiple record highs, with the highest price achieved on October 31st at £2,156.46. Comparing this to the year-over-year low of £1,571.97 shows a total increase of +37% per ounce of gold. 

Shifting Towards Investment Gold & Silver Bullion

It’s only natural that many of the UK’s largest bullion dealers have set up in Hatton Garden, given its long-standing association with jewellery and precious metals. This connection is evident with gold sovereign coins, which are often used in jewellery like rings or pendants. However, the focus has shifted towards the investment nature of gold and silver bullion, rather than using these precious metals purely for personal adornment.

Today, the Gold Sovereign bullion coin (issued exclusively in gold) and the Britannia coin series, available in gold, silver, and platinum, are two of the UK's most popular choices for investors looking to diversify their portfolios with bullion coins. Their popularity is due to iconic designs, rich history, enhanced security features in the Britannia series, and their Capital Gains Tax (CGT) exemption as 'current UK legal tender pound sterling coins.'

To learn more about the impact of CGT on bullion investment, read our comprehensive guide to Capital Gains Tax on bullion, or browse our range of CGT-exempt gold and silver coins. In addition, we recommend reading our advice guide for UK bullion investors' for a complete understanding of investing in gold and silver bullion.

The Role of Hatton Garden For Bullion Investment

Hatton Garden has firmly established itself as a central hub for bullion investment, offering investors a wide variety of options suitable for all budgets. Popular UK bullion coins, including gold Sovereigns and Britannias manufactured by The Royal Mint, as well as globally recognised gold and silver bars, are readily available. Hatton Garden bullion dealers are renowned for stocking a broad range of CGT-exempt coins, making the area an efficient and trusted choice for diversifying portfolios with precious metals.

In 2024, demand for gold and silver bullion in the UK reached unprecedented levels, with sales of CGT-exempt coins increasing by 110% in the third quarter compared to the same period last year. Today, Hatton Garden bullion dealers and investors continue to play a pivotal role in meeting this growing demand, offering a central location for accessing premium bullion products.

The Royal Mint Influence on Modern UK Bullion Coins

The Royal Mint, the official producer of British coins with over 1,100 years of history, introduced the first gold noble in the mid-1300s during the reign of King Edward III. This marked the production of the first gold coin in large quantities. In subsequent centuries, new gold coin series were introduced, including the first Sovereign in 1489 under King Henry VII and the modern Sovereign, first struck in 1817 during the reign of King George III.

Sovereign and Britannia coins are not the only bullion coins issued by The Royal Mint. Other popular bullion coin series include the Tudor Beasts, Royal Arms, and Myths & Legends collections. These coins provide investors with an opportunity to acquire a variety of designs while benefiting from their exemption from CGT.

Security Lessons Learned from the Hatton Garden Heist

The Hatton Garden Heist, also known as the Hatton Garden safe deposit burglary, is one of the most notorious heists in British history. It took place over the Easter weekend in April 2015, when a group of elderly, experienced thieves broke into the Hatton Garden Safe Deposit Company in London's jewellery district. Few would have expected that the gang behind the heist consisted of six men, aged between 52 and 73, nicknamed 'The Bad Grandpas,' 'Dad's Army,' or even the 'Diamond Wheezers'.

Hatton Garden Heist's Impact on Security

The Hatton Garden heist of 2015 highlighted the need for enhanced security in the Hatton Garden precious metal market. The heist revealed significant weaknesses in vault security, leading to the implementation of improved measures across the industry to better safeguard valuable assets. Key improvements include:

• Advanced alarm systems
• Enhanced surveillance
• Biometric authentication
• Structural fortifications
• Regular security audits

During the heist, an alarm was triggered and forwarded to the police. However, on-site security personnel found no signs of a break-in and dismissed it as a false alarm, resulting in no police response.

This incident highlighted critical lessons for the security industry:

1. All alarms, even those presumed false, must be thoroughly investigated.

2. Alarm systems require regular maintenance to ensure reliability.

3. A swift and coordinated police response is essential whenever an alarm is activated.

4. Comprehensive CCTV coverage is vital, particularly focusing on the building's exterior and all entry points.

At Chards, we have taken these lessons seriously. Comprehensive safety measures have been implemented at both our locations to protect our vaults, customers, and team, ensuring the highest level of security in the unlikely event of a similar attempt.

From Brink's Mat to Hatton Garden

Brian Reader known by the gang as the 'mastermind' or 'governor' was no stranger to high-profile crimes. He had previously been involved in the infamous 1983 Brink Mat robbery at the Heathrow International Trading Estate, where an estimated £26 million worth of gold bullion, diamonds, and cash was stolen. Reader handled stolen goods and was part of the money laundering operation, for which he was sentenced to nine years in prison. The Brink's Mat robbery remains one of the top five biggest gold heists of all time, cementing Reader's reputation as one of the most notorious crooks in the British underworld.

After his release, Reader appeared to turn over a new leaf, running a second-hand dealership with his son following the passing of his wife. However, he remained in contact with his old associate, Terence (Terry) Perkins. The two discussed the Hatton Garden heist for about a year before involving the other members of the group.

How Accurate is The Hatton Garden Job Film?

The film The Hatton Garden Job (2017), directed by Ronnie Thompson, is a dramatisation of the real-life events that took place in April 2015. The main cast includes Larry Lamb as Brian Reader, Matthew Goode as XXX, and Joely Richardson as Erzebet Zslondos. The dramatisation element of the film addresses the question: how did the thieves disable the alarm? The director decided to implement a corrupt copper and a Hungarian gangster, played by Joely Richardson, who fancies Matthew Goode's character and passes on information for a cut of the heist.

Image Credit: Signature Entertainment (See Source) - Front cover art of The Hatton Garden Heist Job

How Was The Hatton Garden Heist Executed?

Reader made numerous visits to Hatton Garden before the heist took place as part of his planning process as the mastermind behind the operation. It is known that Reader introduced an individual known as 'Basil,' an alarm specialist, into the gang. The heist was carried out over three nights (2nd–4th April 2015). Reader, then aged 76, and his 'Diamond Wheezers' gang planned the robbery to coincide with the Easter weekend, knowing that the surrounding businesses in Hatton Garden would be closed.

The Hatton Garden Heist

On 2nd April 2015, Reader used a Freedom Pass that did not belong to him to travel on the 96 bus to Dartford, where he caught a train to Waterloo East. Each gang member travelled separately to 88–90 Hatton Garden, where the heist officially began.

The gang entered the building through a communal entrance, disabling the alarm system to avoid detection. They then descended a lift shaft to the basement, which housed the vault. Using a specialist industrial Hilti DD350 diamond coring drill, they bored through the 50 cm (20-inch) thick concrete wall of the vault. After completing the drilling, they gained access to the vault and opened 73 deposit boxes, stealing an estimated £14 million worth of cash, gold bullion, jewellery, and other valuables.

Three years after the heist, all members of the Hatton Garden gang were apprehended through a combination of surveillance, forensic evidence, and investigative diligence. Below are the names of the gang members involved. While some have passed away and most are now free, Michael Seed, known as 'Basil,' remains incarcerated as of 2024. Their names, however, remain etched in criminal history.

Basil gained several nicknames during his time evading the police, including the 'Hatton Garden Raider' and 'Basil the Ghost.' He is believed to have pocketed £4.6 million but has so far repaid less than £50,000. He is currently serving an additional six-and-a-half years on top of his 10-year 2019 jail term for failing to repay the agreed sum of £6,000,000, even after it was reduced to £600,000.

If you're interested in the top 10 biggest bank robberies of all time, how they were carried out, and whether the criminals were caught or escaped, be sure to check out our informative blog.

How To Buy & Sell Gold & Silver With Us?

We have two showrooms available for visitors, ideal for individuals who prefer a face-to-face approach to buying and selling gold and silver. Strategically positioned in London's Hatton Garden and Blackpool's South Shore, our offices offer personalised consultations in two convenient locations. To ensure each customer receives the highest level of service, it is important to book an appointment with us and bring two forms of identification. This allows us to allocate the appropriate amount of time for a tailored and satisfying experience.

For a detailed explanation of how to buy from us, we have an information page that provides a simple step-by-step guide. Additionally, our payment options page outlines the five payment methods we accept.

Chards Coin and Bullion Dealer: Hatton Garden London Showroom

In 2024, we achieved another significant milestone in our history with the expansion of our showroom in Hatton Garden London, a testament to our team's hard work and our valued customers. In London, we aim to educate investors looking to buy gold in Hatton Garden or silver.

This new location provides an additional option for customers who may find it more convenient than visiting our Blackpool premises. Our Hatton Garden showroom features private consultation booths for discussing your business discreetly. Additionally, our helpful Hatton Garden-based team eagerly looks forward to assisting you in navigating the precious metals market.

Our Hatton Garden opening times for our showroom are Monday to Friday 10:00am - 3:30pm and closed Saturday and Sunday. Additionally, you can contact us at our Hatton Garden number: 020 8149 9777.

Chards Coin and Bullion Dealer: Blackpool Showroom

Our first showroom is located in Blackpool, UK, where we have been operating since 1964. Over the years, we have expanded and relocated within Blackpool three times, finally establishing our base of operations at Harrowside in 2014, where we have been based for over a decade.

An additional service available at our Blackpool showroom is world-class vaulted storage, offering secure and fully insured storage for your bullion at competitive rates. For added peace of mind, customer stock held in our storage facilities is independently audited by Azets. Beyond Blackpool and London, we also offer the option to store your VAT-Free silver and platinum bullion investments overseas in bonded warehouses.

Our Blackpool showroom opening times are Monday to Friday 9:30am - 4:00pm and closed Saturday and Sunday. 

Chards Coin and Bullion Dealer: E-commerce Website

For customers unable to visit our Hatton Garden showroom in person, our constantly evolving E-commerce website offers convenient access to Hatton Garden gold and silver coins and bars. Our website offers thousands of investment and collectible options to help you diversify your portfolio or enhance your collection. Our website also features a range of sales throughout the year, offering special offers on coins and bars to help you maximise your portfolio at low premiums.

Please note: For orders under £5,000, no identification is required for delivery. However, for orders exceeding this amount, two forms of identification will be required. Our website is available 24/7 and features a range of guides offering useful advice on various topics. A great starting point is our 'Advice Guide for UK Bullion Investors'.

FAQ's

Where is Hatton Garden London?

If you're unsure how to get to Hatton Garden, London, you can drive and park in nearby car parks like 14 St Cross Street, London EC1M 3JY. Alternatively, you can use public transport options such as trains, buses, Ubers, or black cabs. You can also travel by tube or bus. For visitors from further afield, you can fly into Gatwick, Heathrow, or London City Airport.

For more information, we recommend viewing Hatton Garden London's 'getting here' page. (See Source) The informative page provides a detailed and easy-to-follow guide on how to reach Hatton Garden using various transportation options.

How to choose a Hatton Garden Bullion dealer?

Choosing a Hatton Garden bullion dealer with a long-standing history is crucial to ensuring that you are dealing with a reputable and trustworthy dealer. For over 60 years, educating customers has been at the forefront of what we do. We are an award-winning, family-run coin and bullion dealer.

Since 1964, we have facilitated the buying and selling of precious metals for our customers, who range from first-time buyers to seasoned investors and collectors. We are strongly committed to providing exceptional prices, maximum transparency and outstanding customer service. Additionally, we use our 60 years of industry expertise to help our customers achieve their personal goals and investment aims. Additionally on the the 30th January 2024, we were delighted to announce that we were accepted as a full-member of the London Bullion Market Association (LBMA).

Appendices

These Appendices provide supplementary information or detailed data that supports the main content of this info page.

Appendix A - Gold Price Performance Since 1964 Calculation

Our Findings Made Simple

• Original Amount (1964): £12.50
• Average Inflation Rate: 5.54% (as a decimal: 0.0554)
• Number of Years: 60 (from 1964 to 2024)

Step-by-Step Calculation

• Convert the inflation rate to a decimal: 5.54% = 0.0554
• Calculate the compound factor: (1+0.0554)^60 = 25.6
• Multiply by the original amount: £12.50 × 25.6 = £320