What Gold and Silver Coins Should I Buy?

Gold Coins & Silver Coins

Gold rate on a particular day will always vary over the previous day’s rate. So will be the gold rate variation from city to city. India is at the apex of the world, in terms of total global consumption of the precious metal, standing behind only China. Indians use gold chiefly in the form of jewelry and investments. People check for current gold rates in the economy time and again and invest in gold when the prices are low. They encash when the gold rate shoots up or when their revenue falls short of expenses. Gold and silver coins together constitute a reasonably good form of investment, more importantly stable value investment with least value added charges to the base metal price. The coins of the above metals are distinguished for their liquidity.

You are free to buy gold coins from jewellers, banks, post offices or e-commerce sites. The post office gold coins will bear the logo of the India Post and so will be the gold coins sold by banks. If a bank wishes to retail gold coins to its customers it requires RBI approval for the same. You need not be a customer of a bank to purchase gold coins from it. Most banks offer gold coins with an "Assay Certification" indicative of high quality standards of 999.9 purity.

At the same time, banks or post offices do not offer attractive discounts during festive occasions and are known to sell gold coins at a higher premium. Discounts are usually offered only on bulk purchases. Banks do not accept even the coins sold by them for cash or adjustment towards any other purchase which is a matter of grave concern. And jewellers shall either refuse to accept coins issued by banks or post office for dispensing cash or trade off such coins for lower prices. If you are about to purchase coins from banks or post offices kindly do so after inquiring the prices offered by reputed jewellers, in the contemporary period, in your locality.

The Union Government has mandated MMTC Ltd., a Government of India Enterprise, under the Ministry of Commerce & Industry to launch and market an exclusive coin namely the Indian Gold Coin since 2015. These coins are of 999 fineness and feature the emblem of Ashok Chakra embossed on one side and the face of the “Father of the Nation” on the other side.

Silver coin lovers may collect the coins for diversifying their investment portfolio, retaining them as symbols of historical significance, or for their monetary value. Feel the spiritual aura of the deities installed at your home with elegant silver coins. We are aware of the spiritual procession wherein Lord Shiva in the form of idol circumambulates the outermost prakaram of temple, with his divine consort, mounted on Nandhi Deva who is covered with a silver armour on the highly auspicious bi-monthly occasion of Pradosham. The role of silver anklets in a women’s life is well known and needs no mention. Silver is also unseparably connected to our tradition, religious observances and culture. The modern day trend is to purchase silver coins online. These highly liquid coins can later be exchanged for cash and you can purchase silver article of your choice. Most coins have the images of Lord Ganesha- who’s worshiped first in all rituals of Hinduism, Goddess Lakshmi- bestower of eight-fold prosperity and Lord Venkateswara - to whom people take refuge in against the ills of Kaliyug.

The inbred value of silver has been recognized by pristine cultures for several thousand years worldwide. This precious metal silver has provided security in times of economic downturn. Gold coins are available in various combinations of purity and denominations. Most reputed refiners produce coins ranging from 0.5g to 100g with 0.5 to 10 gram being the most widely circulated range.

Whenever you purchase a coin look out for the hallmark seal.
Hallmarking ascertains gold coin’s purity. Buying a 24 Kt gold coin is advisable for investment and a 22 Kt gold coin would be preferable for gifts.

You may be required to provide PAN card details upon the purchase of gold and silver coins, exhibiting excellent liquidity.

Hope you show your wisdom in purchase of coins.

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