Sale of Gold Coins by Banks in India 

In India, Gold has traditionally been  the most popular form of  investment of general public.  In fact,  even today, India  is amongst the largest buyers of Gold in the world.   To encash this love for gold, almost all banks in India used to sell cold coins aggressively under their brand name. Although GoI had placed certain restrictions on the import of gold coins, Banks like SBI, BoB, ICICI, PNB, quote Gold Coin Rates on a regular basis and update the same on their websites.

The Gold Coin Rates or Price of Gold Coin  sold by Banks in India is no doubt higher than the gold prices in the bullion market as banks keep huge margins.   However, it is a safe investment on account of two  key components, namely, Reliability and Convenience.  The retail sale of Gold coins gains momentum during festival seasons, especially around Diwali.  During festivals like Akshay Tritiya and Diwali, banks even offer some discounts on purchase of bulk coins.

The coins sold by banks are usually in weights of 1gm, 2.5 gm, 5 gm, 8 gms, 10 gms, 20 gms, 50 gms and 100 gms and not all banks sell all type of gold coins. These coins usually also bear the logo of the bank selling the same. The customers are often surprised to note that daily price of  the gold coins of similar weight and with same quality is different in different banks even on the same day.

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