India Post to sell gold coins during festive season

October 27th, 2010 - 10:52 pm ICT by IANS  

New Delhi, Oct 27 (IANS) India Post Wednesday said that it will be offering 24-carat branded gold coins during the festival season.

India Post has been selling the 24-carat coins produced by Valcambi, Switzerland, in association with the World Gold Council and its business partner since 2008 during the every festive season.

The scheme was launched in October 2008 in about 100 post offices spread across Delhi, Maharashtra, Tamil Nadu and Gujarat postal circles.

At present this scheme is available in 700 post offices across India. So far, over 500 kg of gold has been sold from the post offices.

Post offices sell gold coins of 0.5 gm, 1 gm, 5 gm, 8 gm and 20 gm denominations.

The special festive season offer can be availed between Oct 12 and Dec 31.

Some of the schemes on offer are ‘10 pe padha-ummeed se zyada’, ‘buy 10 gram of gold and get half a gram free’ and a special offer for government employees — six percent discount on purchase of gold coins of any denomination in any quantity on the day’s gold price.

Over 26 post offices across the capital are selling these coins, including New Delhi head post office, Delhi GPO, Lodi Road HPO, Kalkaji HPO, Lajpat Nagar post office and Sansad Marg HPO.

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