Weight ranges from one to 10 grams
The coins can be exchanged for gold or money Mega gold festival planned around `Akshaya Tritiya'
CHENNAI: If you are one of those who prefer gold as an investment, here is some interesting news.
The Gold Club of Chennai (GCC) on Wednesday launched 24-carat gold coins in different weights from one gram to 10 grams.
The coins will be available at the jewellery outlets of members of the council from Saturday. Nathella Anjaneyulu Chetty, Vummidi Bangaru Chetty, Vummidi Bangaru Jewellers, Mehta Jewellery, Original Kerala Jewellers, Prince, G.R.Thangamaligai, Kirtilal, Khazana and Kerala jewellers are among the GCC members in Chennai.
The coins, once purchased, can later be exchanged for gold or money (at the price of gold prevalent on that particular day) in any of the close-to 200 members' showrooms in Tamil Nadu and Puducherry.
GCC chairman N. Anantha Padmanaban said the council proposed to approach the State Government, requesting authorities to grant permission for conducting a mega gold festival.
Organisers said the launch was timed around `Akshaya Tritiya' day, when sales were expected to be high.
This year, `Akshaya Tritiya' falls on April 19 and 20, they said.
World Gold Council vice president K. Shivram said according to a conservative estimate, about 38 tonnes of gold were sold in the country during `Akshaya Tritiya' last year. It was expected to be higher this year.
Actor Sangeetha launched the first set of coins at Wednesday's launch-cum-press conference.