41,000 silver coins sold during Tihar alone

At an average rate of 3100 per copy, a turnover of 130 million rupees was generated during the Tihar period alone.

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41,000 silver coins sold during Tihar alone

What you should know

About 41,000 silver coins have been sold during this year's Tihar festival alone. The Nepal Rastra Bank, which did not sell Asrfi this year due to the lack of quality (999.99 touch) gold, had distributed only silver coins. The Nepal Rastra Bank has stated that about 41,000 coins were sold during the same period.

This year, the National Bank distributed only 10/10 gram coins. Every day, the National Bank had been fixing the price of the coin for that day according to the market price of silver. Accordingly, the price of each coin varied every day. During that period, coins were sold at a rate of 3,000 to 3,300 per coin. Even if the average rate of 3,100 per coin was calculated, it is said that silver coins worth about 1.31 billion rupees were sold. 

Generally, the quality of gold is classified as 22 carats and 24 carats in the market. But the National Bank looks at the quality of gold based on numbers. Accordingly, '999.99 touch' is the highest quality (pure) gold. This is the gold that the National Bank uses to make Asrafis. Stating that there is a shortage of gold of that quality, the National Bank did not sell gold coins this year. 

Since there were no gold coins, the National Bank had sold ordinary and silver coins of one and two rupees until Asoj 31. These coins have been named medallions and souvenirs. These coins are also made of silver and cupronickel (a mixture of copper and nickel).

Medallions are coins minted for the purpose of jewelry, decoration, and promotion of religious, cultural, and natural heritage. These coins are usually made of silver. These coins are engraved with images of various religious, cultural, and natural heritage. Which image is engraved on which coin depends on market demand. The National Bank has said that there is currently a high demand for silver coins with images of Lakshmi, Ganesh, and Lakshmi-Ganesh combined. These coins have a face value mentioned on them. When purchasing coins, the amount must be paid according to the face value.

Souvenir coins are made by mixing silver and other metals. These are coins issued on special occasions. Government permission is required to issue souvenir coins. Such coins are engraved with themes related to national luminaries or personalities requested by the government, such as a special day, year, occasion, program, or achievement of national and international importance. Souvenir coins are also sold at their face value.

This year, a person has been provided with a maximum of four silver coins, according to the National Bank. A valid citizenship certificate or proof of citizenship and a copy of it were mandatory for purchasing silver souvenir and medallion coins.

The Mint Department of Nepal Rastra Bank has also been distributing gold and silver coins to the general public. But just as the demand for notes is high during Dashain, the demand for gold and silver coins is high during Tihar, according to officials of the National Bank. The National Bank has stated that more than 90 percent of the gold and silver coins sold by the National Bank in a year are sold during Tihar. This also confirms that Nepalis have a great passion for gold and silver coins.

The price of Asrafis, souvenirs and medallion coins is determined based on the market price of gold and silver. Asrafis can be purchased from the National Bank just like buying gold jewelry in the market. Asrafis and silver coins are also kept for sale in gold and silver shops in the market. But since the National Bank is a government agency, you can be confident in the quality. 

That is why the general public prefers to buy coins from the National Bank. The price of Asrfi is determined by adding the manufacturing cost to the market price of gold. When selling Asrfi to an individual, the National Bank determines the daily price by adding 300 rupees per gram to the prevailing market price of gold. However, the National Bank has stated that in the case of institutions, 500 rupees per gram will be added.

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