The Indian Gold Coin scheme was introduced as a part of Gold Monetisation Scheme. It imposed a restriction on banks in India to sell imported gold. This is said to be India's first national coin. It has the national emblem of Ashoka Chakra on one side and the face of Mahatma Gandhi on the other. They are available in denominations of 5 and 10 grams. Bars or bullions are available in 20 grams. These gold coins are distributed through Metals and Minerals Trading Corporation of India (MMTC) and can be bought at designated banks
1) Always in demand: Gold is the oldest investment in the history of mankind. This shows that there is always demand for gold – either for investment or for precious jewellery. This makes it a good asset that can fetch you money in case of any need and Indian Gold Coin promises easy liquidity
2) Good investment: Every expert recommends that at least 5-10% of your portfolio should be invested in gold. This helps you diversify your investments. Gold prices often go up when other financial assets like stocks and bonds fall in value. So, by investing in gold, you can ensure you earn good returns even during bad phases. And there’s no better way of investing in gold than through the standard Indian Gold coins.
3) Transparent Pricing: While purchasing Gold from the jeweller, pricing always remains an issue, as you never know what the actual gold content is, what the labor charges are etc. With investment in Indian Gold Coin, you don’t need to worry about the pricing. The pricing of the coin is being managed by MMTC, a Government of India Undertaking, which ensures transparent pricing.
4) Know what you buy: It’s a common story—you go to the jeweller to sell some gold jewellery. You almost often end up getting a lower value than expected. This could be for various reasons like wrong weight, wastage material, etc. But, this never happens with Indian Gold Coin. If you buy a 10-gram coin you will get value of 24 Karat when you sell it.
5) It is certified: Every Indian Gold Coin is certified as per the Bureau of Indian Standards (BIS) Hallmark. It is the only Gold Coin in India which is minted in Indian Government Mint, hallmarked by BIS and project executed by MMTC, a Government of India Undertaking. This ensures you get only 24 carat gold with 99.9% purity. So you never have to compromise or worry about poor quality, mixed gold or other impurities.
6) Buy in small amounts: Every time you think of buying gold, you must imagine spending a lot of money, even emptying your bank account. But with an Indian Gold Coin, you can invest in as little as 5 grams, 10 grams and 20 grams of gold. This way, you can invest in small amounts whenever you get those bonuses or have extra cash lying idle.
7) No worries about bogus gold: Traditionally, jewellers and experts bite a gold coin to test whether it is real or fake. With the Indian Gold coin, you do not have to do any such thing. It comes with advanced anti-counterfeit currency like security features, each packaging of Indian Gold Coin is also barcoded and serial numbered.
8) Easy to store: It’s small and tiny, probably occupying just a few square inches in the corner of your locker—The Indian Gold Coinis the way you store thousands and lakhs worth assets in small spaces. Can you do that with other gold options like bars and jewellery? Most probably not.
9) Easier to monetize: When you try to sell bars or jewellery, you may be charged a fee. This is because the gold has to be melted, checked for purity and reshaped to be reused. With Indian Gold Coin, you don’t need to worry for selling it in open market as MMTC is an established and reputed brand in the market. Moreover, MMTC is also coming out with buy-back of Indian Gold Coin.
10) Constant quality over time: Papers get ruined if you store for years and decades. Accounts can get defunct. But gold, it never gets affected with time. The quality of Indian Gold Coin remains the same over years. So, one coin can pass through generations without losing its sheen. If you decide to buy Indian Gold Coin, you would be in good company. After all, one-third of the gold bought in India is in the form of a gold coin or bar. This is a whopping 200-250 tonnes of gold. And why not, it’s quite a smart choice after all!