India Gold Coin: What you need to know about it

India Gold Coin

India Gold Coin is one of the three new gold schemes launched by the Government of India on 5^th November 2015. The other two schemes are namely – Gold Monetization Scheme and Sovereign Gold Bond Scheme. The major motive behind the launch these gold schemes is to encourage investment in gold and use this yellow metal for the country’s economic growth. These new gold schemes are expected to cut down India’s gold import.

The India Gold Coin is a part of the Indian Government’s gold monetization program, and it is the first ever national gold coin produced in India bearing the image of Ashoka Chakra minted on it. The coin is currently available in denominations of 5gm, 10gm and 20gm. Almost 15,000 coins of 5gm, 20,000 coins of 10gm and 3,750 gold bullions will be made available in the Indian gold market soon.

These coins are currently available only at designated outlets of Metals and Minerals Trading Corporation of India (MMTC). Going forward, banks and post – offices will also sell the India Gold Coin.

India Gold Coin Pricing

At the time of launch, the India Gold Coin was priced at Rs.2500 for 5gm, Rs.5,000 for 10gm and Rs.10,000 for 20gm. But the above-mentioned rates were revised immediately after its launch. The revised rates on India Gold Coin are –

• For a 5gm coin - Rs.24,947
• For a 10gm coin - Rs.49,399
• For a 20gm coin- Rs.87,670

The above-mentioned rates are excluding value added tax (VAT) and other taxes.

Key Features of India Gold Coin

The India Gold Coin comes with a host of attractive features. Listed below are the main features of it:

• The coin is equipped with advanced anti-counterfeit feature and tamper proof packaging to avoid duplication.
• The India Gold Coin is made of 24 karat gold and comes with 999 fineness.
• It is hallmarked by BIS or made as per BIS Standards set by MMTC.
• The coin is available in denominations of 5gm, 10gm and 20gm.
• It is available in all listed outlets of MMTC.

Benefits of investing in India Gold Coin

Listed below are the benefits offered by India Gold Coin:

• The India Gold Coin has easy liquidity. It can be easily sold as and when you need money.
• Considering insatiable demand for gold in India, the India Gold Coin is expected to draw more value over the time.

Cities where India Gold Coin is available

The India Gold Coin is currently available in the following cities: Ahmedabad, Bellary, Bengaluru, Barbil Bellary, Bengaluru, Bhubaneswar, Chennai, Goa, Hospet, Jaipur, Kolkata, Ludhiana, Hyderabad, Jaipur, Mumbai, New Delhi, Puri and Visakhapatnam.

FAQs

1. Can I purchase an Indian Gold Coin online?

   Currently, the facility of purchasing the India Gold Coin online is not available.

2. Where do I purchase the India Gold Coin?

   The India Gold is available at select MMTC outlets across India.

3. In which denominations is the India Gold Coin available?

   The India Gold Coin is currently available in denominations of 5gm, 10gm and 20gm.