Does India produce official gold and silver bullion pieces?

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Weiss
Weiss Posts: 9,942 ✭✭✭✭✭
in World & Ancient Coins Forum

And if not, why? They have one of the biggest pools of precious metals consumers in the world.

We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

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  • mkman123
    mkman123 Posts: 6,849 ✭✭✭✭
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    Thats a good question, I wonder that myself..........

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  • Stork
    Stork Posts: 5,208 ✭✭✭✭✭
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    An interesting read: blog.gainesvillecoins.com/2015/09/23/india-issue-bullion/
    Don't know that it's been done but the idea was floated. Problem is I suppose is that so much of that gold is held either privately or by the religious elements, not the government/treasuries.

    Haven't done any fact checking on this though.

  • WillieBoyd2
    WillieBoyd2 Posts: 5,410 ✭✭✭✭✭
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    I live in California and I wrote to the Indian Mint in around 1964 asking about buying coins.

    They sent back a pricelist which included gold mohurs, restrikes.

    I couldn't afford them and of course it was illegal to import gold into the US then.

    India currently has an agreement with the United Kingdom to manufacture gold sovereigns in India.

    :)

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  • Weiss
    Weiss Posts: 9,942 ✭✭✭✭✭
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    Like the idea of a sovereign-sized coin. But it shouldn't be a sovereign or anything like it stylistically.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • Jackthecat1
    Jackthecat1 Posts: 1,122 ✭✭✭
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    There is a collaboration between the Royal Mint and MMTC-PAMP, a Indian government-private business joint venture to make sovereigns. They are tributes of a sort to the 1918-I sovereigns with the same mint mark. The dies come from the Royal Mint.

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  • Michael1
    Michael1 Posts: 31 ✭
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    The Indian Gold Coin will be the first ever Indian national gold coin with the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other side

  • Weiss
    Weiss Posts: 9,942 ✭✭✭✭✭
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    @Michael1 said:
    The Indian Gold Coin will be the first ever Indian national gold coin with the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other side

    Interesting, but apparently this is a privately issued bullion piece from the Metals and Minerals Trading Corporation.
    Unless I'm mis-reading the copy, this isn't an official Indian government issue, has no official backing, and doesn't appear to have a face value.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • Michael1
    Michael1 Posts: 31 ✭
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    @Weiss said:

    @Michael1 said:
    The Indian Gold Coin will be the first ever Indian national gold coin with the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other side

    Interesting, but apparently this is a privately issued bullion piece from the Metals and Minerals Trading Corporation.
    Unless I'm mis-reading the copy, this isn't an official Indian government issue, has no official backing, and doesn't appear to have a face value.

    The Honourable Prime Minister of India, Shri Narendra Modi has launched the Indian Gold Coin and Indian Gold Bullion at 7 Race Course Road, New Delhi on 5 November 2015. Both, the coin as well as the bullion will be the first ever national gold offerings by Government of India

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