India Post has introduced 20 gram gold coins for sale to customers across India. So far, the gold coins were available in the denominations 0.5 gram, 1 gram, 5 gram and 8 gram of 24 carat. The 20-gram coin was to meet the increasing demand of the public, the Department of Post said.
A release from S.Balachandran, Assistant Director, and (Technical), says that, apart from enhancing the revenue of the department, “this will enable us to usher in a new image of India Post as a modern and relevant organisation to the public in all areas of life. “
For small investor
When India Post started selling gold coins two years back, there was a great response from people, particularly small investors.
Following the tremendous response to its gold coins sale last Deepavali, India Post is offering special schemes and discounts this festive season. “We have come up with a special offer for customers buying gold coins. For every 10 gram gold coin purchased from post offices, we are giving 0.5 gram gold coin free and similarly on purchase of 20 grams there is 1 gram gold coin given free. “
The department is also offering a 6 per cent discount on gold coins of any denomination in any quantity to both the Central and State government employees. Retired government employees are also eligible. Customers can walk into over 700 post offices across the country to avail of the offer till December 31, 2010.
The 24 carat gold coins are manufactured at Valcambi in, Switzerland.