Date:27/11/2008 URL: http://www.thehindu.com/2008/11/27/stories/2008112752450400.htm

Andhra Pradesh - Hyderabad

Sale of gold coins now through post offices

Special Correspondent

- PHOTO: P.V. SIVAKUMAR

Novel initiative: Chief Postmaster General Yesodhara Menon (right ) and Anand Krishnamoorthy, RML National Product Head (Gold), launching the sale of gold coins on Wednesday.

HYDERABAD: Post offices in the State now double up as retail counters for 24 carat gold coins to pave way for structured investments in gold to masses.

Department of Posts in association with World Gold Council and Reliance Money Ltd.(RML), will sell gold coins in the identified 15 post offices in the twin cities to begin with in the State.

Chief Postmaster General Yesodhara Menon who launched the service in the presence of RML National Product Head (Gold) Anand Krishnamoorthy here on Wednesday said though one did not need any excuse to buy gold, yellow metal would be a safe investment in these times of global melt down. The gold coins in 0.5 gm, 1 gm, 5 gm and 8 gm denominations, minted at Switzerland and sold in tamper proof packs would be of 99.99 per cent purity with internationally recognised certification. The department is offering a discount of 5 per cent on sale of gold coins till Dec.31.