Tuesday, December 27, 2011

Ukraine to Issue Gold, Silver Investment Coins

The Ukranian National Bank is launching production of Ukranian gold and silver investment coins.  With a total first issue of 4-5 thousand coins we are not talking about a volume that will make much of an impact on the gold or silver market, but it does reflect a growing paradigm shift away from the dollar to the ultimate safe haven currencies of gold and silver.

Former Soviet republic of Ukraine is considering to mint more gold and silver coins and made it available for general public.
According to Ukraine’s National Bank, launching of investment coins made of gold and silver will allow people looking for an alternative to dollars and euros as a means of savings.

The coins can be bought by Ukraine’s local currency, hryvnia, through the branch network of the banks to be selected by the centralbank .
The volume of the first issue of the investment coins can make 4-5 thousand pieces. They will be issued in denominations of 1, 2, 5, 10 and 20 hryvnias with the weight ranging from 0.1 to one troy ounce of triple nine gold .
Also it is expected to release silver investment coins, weighing one and two troy ounces. In addition to the investment coins, the National Bank of Ukraine is also planning to issue gold securities – gold rate-indexed certificates.
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