Gold coins at GPO

Gold coins at GPO

- 5 per cent discount to lure customers

Jamshedpur, July 20: Need gold? Head to the post office. Bistupur General Post Office began selling 24-carat gold coins from today. Sudhir Kumar Dubey of Kadma along with Ujjwal Kumar Dasgupta and D. Biswas of Sonari were the first three customers to buy the coins, weighing 5gm and 0.5gm.
“Though we had planned to sell the coins for long, we finally started from today. This service of the India Post was launched in October 2008, but the logistics needed to be worked out here. This is why the process got delayed in this Jharkhand circle. Coins will be available for sale during working hours,” said N.K. Saha, the senior superintendent of Jamshedpur post office.

The coins that may be purchased only through cash payment may be soon available at the Golmuri post office, if the plans work out. All coins will be available at a discount of 5 per cent of the gold price on a specific day. At present, 24-carat gold coins weighing 0.5gm, 1gm, 5gm and 8gm will be available at the post office. Each coin comes with a guarantee and certification of Valcambi Switzerland and quality packaging, as well as a number and assayer certificate. India Post, in association with the World Gold Council and Reliance Money, launched the innovative plan in October. Post office staff believe that the coins, available at a cheaper rate than the jewellery stores, will attract smaller investors. “We hope that while coming here to buy the coins, people would also avail services at our post office. We want more people to invest in gold,” said Saha.

source-thetelegraph