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Thursday, 16th October 2008 (2140 views)

Post offices in India have started to sell 24-c gold coins in a new pilot scheme launched this week.

They will be on offer in more than 100 outlets in Gujarat, Tamil Nadu, Maharashtra and the capital Delhi.

Post office officials in India - the world's largest gold consumer - have initiated the scheme in a bid to make the branches a hub for business.

The coins will be offered in weights of 0.5g, 1g, 5g and 8g and bear the India Post logo.

Commenting on the launch, communications and IT minister Thiru Raja said: "Gold coins available through our post offices carry internationally recognised certification and have low risk of duplication."

It will gradually be extended to additional branches based on public response.

Recently, the US Mint announced that it had been forced to widen restrictions on sales of gold bullion coins due to unprecedented demand.

 

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