2016-09-27 Tue

This would be a unique opportunity for not just die-hard coin collectors but the general public as well to get their portrait and names inscribed on gold coins. Bullion and Jewellers Association (IBJA) and Rajesh Wadhawan Group have joined hands to issue and sell these special gold coins.

What makes these coins unique is the fact that they can be personalised with inscriptions of the face and nickname of the owner. The MRP of these coins is Rs 38,000 even though the market price of 10 grams gold is Rs 31,000.

IBJA name and logo would also be depicted on the coin as it would be having a 10 percent share in the venture, while the remaining share would be held by Rajesh Wadhawan Group.

The first store has been opened in Bandra, Mumbai and the venture heads have plans to open 50-100 stores across major cities in the next two-three years using a franchise model with a turnover target of Rs 500-1,000 crore.

With this, an additional market would be created apart from the existing online or offline players. Experts state that the demand for gold would depend on prices in the physical market during festivals.

IBJA Gold has already launched coins with 300 designs based on various themes like special greetings, alphabets, numerics, zodiac signs, devotion, fitness, royals, wildlife, and pride of India. These coins are easily customisable based on your interest and requirements. Officials have also stated that they have plans to introduce gold ATMs or vending machines at retail shops, airports, etc, for customers to avail a gold coin. Silver coins based on the same concept might also be introduced very soon.