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Today's  Gold Coin Rates of Different Banks in India - Everything You Want to Know About Gold Coin Sale by Banks in India

( सोने के सिक्कों के आज के दाम  (रुपयों में)

 

Sale of Gold Coins by Banks in India :

In India, Gold has been traditionally the most popular investment by general public.  In fact,  even today, India  is amongst the largest buyers of Gold in the world.   To encash this love for gold, banks in India have started selling cold coins for last few years and are earning small commission for the same.    The investment in gold coins sold by Banks is no doubt costlier than the gold prices in the bullion market as banks keep huge margins.   However, it is considered as a safe investment mainly on account two  key components, namely, Reliability and Convenience.
 

Most of the banks in India import gold coins from Switzerland as per tie up with one of the reputed foreign suppliers and such coins are 24 carat pure gold carrying  99.99% assay certification (signifying the highest level of purity as per international standards).  These coins are usually available in 1gm; 2.5 gm, 5 gm; 8 gms; 10 gms; 20 gms ; 50 gms and 100 gms.   (However, each bank does not sell all type of gold coins).   These coins usually also bear the logo of the bank from where you will buy the coins and these are well packed and give a good look for gifts etc.

 

The customers may be surprised to note that most of the time the price of  the gold coins ( of similar weight and with same quality) is different in different banks on the same day.   If you have the time and choice of choosing the Bank, you can check the price of different banks by clicking on the links given below before you proceed to buy the gold coins for your loved ones.  Clicking on the respective link will take you directly to the webpage of the bank giving today's gold rate

 

 

NAME  OF THE  BANK

State Bank of India

Punjab National Bank

Bank of Baroda

ICICI Bank

Bank of India

HDFC Bank

IndusInd Bank

Allahabad Bank

Union Bank of India

 

 

Caution : / Why You Should Not Buy Gold Coins from your bank :

 

• In case you try to compare prices between your local jeweler and some banks – you might be shocked.   There will be a reasonable high difference even when both of them guarantee the same purity. (Soon hallmarking of the jewelery  will be compulsory).   However, a number of  people feel that this premium is worth it because the price is higher when you go to sell the gold, BUT REMEMBER THIS IS NOT TRUE.  We leave it to our readers to  decide whether the difference in price is worth it.

 

• You should also remember that almost all banks do not buy back the gold coins (even those which have been sold by them).   Traditionally, Indians sell back their gold to the same jeweller as he used to give the best value at the time of re-sale.    This can also be another reason for buying gold coins from jewelers.

 

• Although, both customers and non-customers are eligible to buy gold coins from banks, but any transactions of Rs. 50000 or more will attract the requirement of quoting of PAN