Tuesday, 12th October 2004 (2883 views)

Commemorative gold coins, which have been withdrawn from sale for four months, have been put up in price in Sri Lanka.

Sri Lanka's Central Bank which offers the gold coins, has now raised their price by 43.75 per cent following the suspension, meaning a 8,000 rupee gold coin was now being sold for 11,5000 rupees.

According to Channel News Asia, the coins have more precious metal content than their actual face value and had been seen as real gold mine before the central bank realised and upped the price.

Previously buyers were making top profits from the coins and jewellers were using the coins as a cheap source of pure gold.

The coin was first issued in February 1998 to mark the country's independence golden jubilee and had been kept at the same value for six years.

 

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