National Bank to issue gold certificates, sell gold bars starting this month
The National Bank of Georgia on Friday said it would start issuing gold certificates and selling gold bars starting on Monday in order to diversify the investment market and assets. Photo: NBG
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The National Bank of Georgia on Friday said it would start issuing gold certificates and selling gold bars starting on Monday in order to diversify the investment market and assets.
The Royal Mint, the United Kingdom's official maker of British coins, will issue gold certificates as well as bars of 20 gram and 1 kg denominations for the NBG.
The Bank said the certificates - documents proving ownership of a specific amount of gold - were interest-free security backed by gold in electronic form.
Photo: NBG
They are backed by gold bars, kept in the Bank’s vault, of the same weight as the face value of the certificate, with the Bank saying the samples were “in full compliance with international standards”.
The certificates will come with the advantage of owners being able to sell them on the secondary market or converting them into cash at the NBG.
The body added investing in gold was “one of the best investment tools characterised by high liquidity and constant demand”, and noted customers would be able to buy the certificates in commercial banks or from NBG’s online store.
The National Bank of Georgia has issued silver and gold collector coins dedicated to Vakhtang Gorgasali, a 5th century CE King of Georgia, in the latest release in its series of history-themed coins.
The National Bank of Georgia has issued a 5 lari denomination silver collector coin dedicated to the 2020 Summer Olympic Games, which will be available for sale starting April 1 through the online store of the NBG, as well as in the bank's cash centre and in the Money Museum in Kvareli, Kakheti.
The National Bank of Georgia (NBG) has issued 5 GEL gold and silver collectors coins, dedicated to the Georgian national rugby team, as the Georgian Lelos are joining the Rugby World Cup in Japan from September 20 to November 2.
Brand new 5 GEL (Georgian lari) silver coins will soon be released in Georgia to promote the country’s rich culture and history of ancient winemaking traditions. The new coins will picture Georgian vine varieties, wine and a large, ancient Georgian winemaking vessel qvevri.