(News) Post Offices Start Selling Gold Coins - Press Information Bureau (Press Release)

News : Post Offices Start Selling Gold Coins - Press Information Bureau (Press Release)

First Sale in Delhi, Tamil Nadu, Maharashtra and Gujarat Thiru A. Raja directs DOP to take the service to villages-
Post Offices have started selling 24 carat gold coins from today. The sale will be available in over 100 India Post outlets in Delhi, Tamil Nadu, Maharashtra and Gujarat in the pilot phase. The gold coins are in the popular denomination of half gram, one gram, 5 grams and 8 grams. The prices of these coins will be competitive based on the prevailing prices of gold. Launching the service in Delhi, the Communications and IT Minister, Thiru A. Raja directed the Department of Post to take the gold coins to rural post offices so that the benefit goes to the common man. He announced that the sale will gradually extend based on public response. He said, during Phase-II of the project, Post Offices will be selling gold coins with India Post logo.

India Post has launched this pioneering venture in association with World Gold Council and Reliance Money. World Gold Council will help market the Swiss Medallions supplied by Reliance Money, making it available to Indian consumers through Post offices in a convenient and cost effective manner. The gold coins will be packed in a sealed cover with the certification from Valcambi, Switzerland. It has the benefits like internationally recognized certification, low risk of duplication, quality packaging, product standardization, numbering and assayer certificate.

Thiru A. Raja observed that the Post office, known for its trust and reliability, will serve as an ideal location for the people to buy quality gold coins. He said, India Post will continue to maximize the network, by making the post office a one stop shop for communication, distribution and retail solutions. Mr. Raja said, the time has come for India Post to boldly venture into new services that will make the Post office as the hub for various businesses. Read more..

Courtesy : PIB.NIC.IN