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Tuesday, 28th October 2008 (2538 views)

India Post has launched a new pilot project to sell certified gold coins through its post office network.

With a total of 55,000 post offices across India, the organisation is trialling the scheme in 100 outlets in four states.

Customers in Delhi, Maharashtra, Tamil Nadu and Gujarat will be able to purchase the coins under an agreement with Reliance Money and the World Gold Council and India Post is now planning to extend the project to the state of Punjab due to strong demand over the festival period.

India Post predicts that the initiative will help it to boost revenue and the scheme would be rolled out to all its post offices in the future.

Reliance Money is acting as vendor for the project, which involves 99.99 per cent pure coins in 0.5 gram, one gram, five gram and eight gram denominations.

Each gold coin comes complete with certification from Swiss precious metals refining company Valcambi.

 

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