How To Buy Gold Coins From Post Office

Buy Gold Coin From Post Office

• Visit the nearest designated Post Office branch and fill in the Application form of Gold Coin. The list of branches extending this product is given on the site.
• Mention the weight and the number of the Gold Coins required along with other relevant details.
• Submit the form along with the required amount.
• The Post Office will process your application and deliver the Coins and the Invoice to you.

You Cannot Sell It Back To Banks

As per the Reserve Bank of India’s directive, banks cannot buy gold coins. Even if you buy or have already bought gold from a bank, you will not be able to sell it back to them.

This would mean that you will have to go to a jeweller or a pawn shop, where you will be offered only the market rate, despite the premium price that you paid to the bank. Also, note that reputed gold jewellery chains do not buy gold for cash. The metal can be sold to them but in exchange for jewellery only.

How & Where To Buy Gold Coins

Jeff Clark, Senior Analyst, GoldSilver

Theres nothing quite like holding a gold coin in your hand. And owning some real gold offers a number of advantages you simply cant get with other investments. And since gold is a natural hedge against the stock market, its an excellent way to diversify, too.

This article will cover the basic dos and donts of buying gold coins, including the advantages of owning them, the best gold coins to buy, the best places to buy , and how to avoid getting ripped off. With a few simple guidelines youll be on your way to owning one of mankinds longest-living assets.

This guide to investing in gold coins will seek to answer some of the common questions we hear including:

• Why buy gold coins?
• Which gold coins should you buy?
• Should you invest in numismatic gold coins?
• What are the most popular gold coins?
• Can you purchase gold coins from a bank?
• Whats the best place to buy? Can you trust online dealers?

Lets start with something about gold coins that many investors arent aware of

Read Also: New Orleans Permanent Gold Teeth

One Ounce Canadian Maple Leaf

Purity .9999 $50 Canadian face value

Backed by: Commonwealth of Canada

Can also be bought in half, quarter, tenth, and twentieth-ounce denominations

Special Note: Royal Canadian Mints advanced security measures make this the most secure gold coin in the world.

Can also be bought in half, quarter, and tenth-ounce denominations

Special Note: The Perth Mint produces a new depiction of the Kangaroo every year

> > > Get Your Free Gold Investor Kit Here

An individual retirement account is one of several types of IRAs. This type of IRA allows you to invest in bonds, stocks, and other assets, instead of having to invest in mutual funds and other products. A good gold IRA has a lower cost of investment than a standard or Roth IRA which invests solely in bonds, stocks, and mutual funds. However, there are differences between a standard and a hedge against inflationary climate.

There are several types of IRAs that an individual can open for investing. The most common IRA types include a standard IRA, a hedge against inflation, and a gold IRA. If you want to have the most flexibility with your investments, then you should invest in a standard IRA. To learn more about these different IRAs, as well as the pros and cons, we have looked at some of the more popular options.

Also Check: Does Kay Jewelers Sell Fake Gold

Different Types Of Gold Investments

Types of gold investments are broadly classified into two categories they are:

Physical gold

As the name suggests, physical gold investments deal with actual gold. This gold investment is the conventional gold investment wherein a physical transaction to obtain gold item is done. One can visit a jewellery store, bank, or post office etc. to complete the transaction of money for gold. The examples of this gold investment type are:

• Jewellery
• Bullions

Paper Gold

This gold investment, on the other hand, includes online gold that can be converted to physical gold in certain cases. Basically, an investor buys physical gold replacements online, in the denominations of multiples of gram, of 24k purity with a starting investment of 1 gram. Paper gold investments have multiple benefits, from ease of obtaining and securing the gold investment to tax benefits. The different types are:

• Gold ETFs
• E-gold etc.

More about investments on gold coins

Gold coins in India have played a significant part in various dynasties, starting from around the Gupta dynasty to this age. It was a sign of prestige and wealth in some kingdoms gold coins were normal transactional currency. Gold coins now are the second popular choice after jewellery in terms of buying. Theyve become a necessity in India, especially because gold coins play a major role in some Indian festivals such as Akshaya Tritiya, Dhanteras etc.

Indian Gold Coin Scheme Amended Buy 1 2 Gram Coins At Airports Post Office Jewelry Shops And Online Soon

Indian Gold Coin Scheme: The Central Government recently approved several amendments to the Indian Gold Coin Scheme. The change in rules is expected to popularise Indian Gold Coins and make them directly available to buyers through multiple marketing channels, including online e-commerce platform and through MMTC, jewellers, banks, India Post etc.

The Government has allowed the Security Printing and Minting Corporation of India to mint Indian Gold Coin in smaller denominations of 1 gram and 2 grams. Before the amendment, IGC was minted in denominations of 5, 10 and 20 grams only.

Indian Gold Coin was first launched by Prime Minister Narendra Modi on 5th November 2015 with an aim of reducing the import of foreign minted gold bullion or coins. The scheme is currently being implemented by MMTC with IGCs minted by SPMCIL. Indian Gold Coin is the first-ever national Gold Coin with advanced security features. It is also the only BIS hallmarked Gold coin in India.

Here are some other key points of the amendments to the Indian Gold Coin scheme you should know:

Now, SPMCIL will also mint and sell India IGC through an online e-commerce platform, and via multiple channels including Airports

IGC will be made available in 995 fineness also

Currently, IGC is manufactured in 24 carat of 999 fineness only. As per the new rules, now IGC will be made available in 24 carat of both 999 and 995 purity.

IGC in smaller denominations

Commemorative/special coins

Recommended Reading: Candy Crush Gold Bars

Gold Coins At A Discount

India’s appetite for Gold Investment still isn’t sated…

THE INDIAN GOVERNMENT is extending a novel scheme to sell Gold Coins through post offices to several states in the wake of the program’s stupendous success over the last two months, reports Commodity Online in Bangalore.

India Post in association with the World Gold Council and Reliance Money launched the innovative plan in October. The scheme offers 24-carat gold coins in 0.5g, 1.5g and 8g sizes, and people can Buy Gold coins through their local post offices.

In the first phase, these gold coins were sold in over 100 post offices in Delhi, Tamil Nadu, Maharashtra and Gujarat. The initiative was then introduced in Punjab, Andhra Pradesh and Rajasthan. And now India Post chief postmaster general M P Rajan says that the gold coins selling scheme has been extended to the southern state of Karnataka.

“Under the scheme launched on October 15th in Delhi, Maharashtra, Gujarat and Tamil Nadu, in the first phase, 8,500 gold coins were sold in the first 15 days,” said Rajan.

Each coin comes with certification from Valcambi Switzerland and quality packaging, as well as a number and assayer certificate. The gold coins are packed in a sealed cover with the certification from Valcambi, Switzerland with the India Post logo.

India Post is offering a 5% special discount to its customers during this festive season which will be valid up till the end of the current month.

Advantages Of Buying Gold Coins

While there are many ways to purchase gold in this day and age, coins can be used as an efficient way to buy the metal in physical form.

If you are looking to start saving for your child’s wedding, coins can be an efficient way to accumulate gold instead of buying jewellery as 1) It is a noble metal. Does not rust or tarnish for years. 2) The purest form of gold can be purchased in coin form. 3) Reduces wastage charges, making charges otherwise lost when selling/remodelling jewellery. 4) You can sell coins to purchase the latest designs in gold jewellery at the time of the wedding.

Don’t Miss: How To Get Free Golden Eagles In War Thunder

How To Buy Gold Coins From The Post Office

For as long as we can remember, the Royal Mint has sold collectible gold and silver coins that commemorate various special events such as Royal birthdays, military victories and technological achievements. These are sold via the official website, online coin dealers, local coin dealers, tv adverts and, unknown to some, the post office. Which asks the question, how to buy gold coins from the Post Office? Well, its easy if you know how.

The Post Office used to have a small number of collectible coins for sale that are issued by The Royal Mint , but If you are looking to buy gold and silver coins online from the Post Office now, youre going to be disappointed. Unfortunately, their shop is now closed but you can still buy Royal Mint gold coins from the official Royal mint website.

If you want to invest in gold coins compare prices on our website first to get the best price.

If you are new to buying gold coins for investment purposes as opposed to collecting, the post office is probably the wrong place to look. Although you can buy bullion gold coins from your local post office , again the list is limited and only some of the Royal Mint Gold Bullion coin products are available.

Post Office Offers 6% Discount On Gold Coin Sale

gold

The Department of Posts has joined the race to meet the growing appetite for purchase of gold. Anyone who buys gold coins from Post Offices this month will get a flat 6 per cent discount.

India Post, in association with the World Gold Council and Reliance Money Infrastructure Ltd, has launched the sale of gold coins manufactured by Valcambi, Switzerland.

The Chief Postmaster General of AP Circle announced the festive offer on the purchase of gold coins from 55 identified post offices across the State. About 23 of these are in Hyderabad and Secunderabad.

The gold coins would be available in denominations ranging from 0.5 g to 50 g of 24 carat with 99.99 purity, a release from the Postal Department said.

The offer would be for the Shravana month.

You May Like: Kay Jewelers Sale 19.99

Buy Minted Gold & Silver Online Coins Biscuits

Lock Prices & Confirm

Review your order, and when happy lock your price by clicking‘Lock Prices & Buy Now’. You then have 5 minutes to click‘Place Order’to confirm.

By confirming an order you have committed to buying at the locked price. You will receive a confirmation email with yourOrder Numberand ourBank Detailsso you can make payment if you have not already paid by card.

Step 6

Also Check: Does Game Pass Ultimate Include Gold

India Post Gold Coin Rate 2021

The gold coin prices are low as compared to many other providers. This makes the service very competitive and cost-effective.Gold coins from the Post office, with the lowest prices in the market, have been the preferred option of the small investors. Moreover, it is available at 200+ locations, and the Post Office is focusing on the low-end denominations.

Read Also Jewellers Scheme

Find Your Local Participating Branch

The nature of Royal Mint coins means they’re only available in selected branches. Use our branch finder to locate a stockist near you:

The nature of Royal Mint coins means they’re only available in selected branches. Use our branch finder to locate a stockist near you:

The nature of Royal Mint coins means they’re only available in selected branches. Use our branch finder to locate a stockist near you:

You May Like: What Dentist Does Gold Teeth

Buy Gold Coin From Post Offices In India

Investors in India can buy Gold Coins from Post offices in India. It is another safest source for buying Gold Coins for Indians apart from Banks. Purity of the Coin is assured when we buy Gold coins from Post offices, just like Banks. Another advantage of buying Gold Coins from these sources, is the discounts offered in selling the Gold Coins. With wide network of branches, Gold coins from Post offices is one of the better way of buying Gold Coins in India. They normally offers discounts in the sale of Gold Coins on special occasions like Akshays tritya and at times of other important festivals. List of Post offices from where you can purchase Gold Coins in India can known in this link Generally Post offices give special discounts to Corporate customers. So when we buy Gold Coins on massive way, considering this option seems good. Dept.of Post is tying up with Reliance money for selling Gold Coins in India. Reliance money is the agency who is supplying Gold Coins to Post Offices. The age old tradition and Govt. backed assurance give a confidence in buying Gold Coins from Post offices in India.Gold Coins from Post Offices in India 1 What is the purity of Gold Coins Gold coins are of 99.99% pure 2 From where Dept of Post purchases the Gold Coins How can we ensure the purity of Gold Coins ? Investor will be provided assayer certificates, tamper proof packs, etc.. 4 What denominations, we can buy Gold Coin ? 0.5gm, 1gm, 5gm, 8gm. Gold Coins.

Gold Coin Rate Today Of Post Office Used Coins & Stamps

• This video is about Can I buy gold coin at post office in Tamil and also Advantage and disadvantage of buying gold coin in Indian post office in TamilFor mor..
• X. Gold coin price today in Candere is Rs 5,486 approx. Buying gold has been one of the best forms of investment for a long time now. It’s an ever-growing asset that can not only be bought for investment purposes but also for fashion purposes. Gold is one metal that does not react with the skin
• If you have the time and choice of choosing the Bank, you should compare the Gold Coin Rate by clicking on the links given below before you proceed to buy the gold coins for your loved ones. For comparing the gold coin rates for today, please click on the respective link that will take you directly to the webpage of the bank giving today’s gold rate

You May Like: How Much Is 18 Karat Gold Per Ounce

Gold Coins In Chennai Tamil Nadu Gold Coins Gold

USMAN ROAD. No: 115, Usman Road, T Nagar, Chennai – 600017 +91 44-2435 6060, 2435 606 Needed today’s Gold rate or past history, we have it all, with interactive charts and graphs. Today, the 24 Carat Gold rate in India is Rs. 4,820.00/- per gram and Rs. 38,556.00/- per 8 grams. On 30-May-2021, the 24 Carat Gold rate was Rs. 4,814.00/- per gram and Rs. 38,514.00/- per 8 grams across India

Know About India Gold Coins Gold Coin Pric

OLX offers free local classified ads in Tamil Nadu. OLX is the next generation of free online classifieds. OLX provides a simple solution to the complications involved in selling, buying, trading, discussing, organizing, and meeting people near you Digital Gold as an Investment – Buy certified pure gold with Finserv MARKETS at today’s price. You can buy 24 karat 99.5% purity gold, Assay certified gold. Find the latest classified ads for flats, jobs, cars, motorbikes, furniture, tools, personals and more for sale in Chennai. Find buyers and sellers that suit your need. Advertise for free on Quikr From the first gold coins used as money at around 700 BC to modern day central banks and governments hoarding it, gold has had an eventful history. Below are just a few of the key dates and events in the history of gold in America: 1792: The Dollar is fixed by law at 24.75 grains or .05156 troy ounces of gold

Recommended Reading: Free Golden Eagles Code