At an average rate of 3100 per copy, a turnover of 1.33 million during the Tihar period alone
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About 41,000 silver coins were sold during this year's Tihar alone.
The National Bank, which did not sell Asrfi this year due to the lack of quality (999.99 touch) gold, had distributed only silver coins. The National Bank has stated that about 41,000 coins were sold in the same period.
This year, the National Bank had distributed only 10/10 gram coins. The National Bank had been fixing the price of the coin of that day according to the market price of silver every day. 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 is calculated, it is said that about 1.31 billion rupees worth of silver coins were sold.
Generally, the quality of gold is classified in the market as 22 carat and 24 carat. However, the National Bank looks at the quality of gold based on the number. Accordingly, ‘999.99 touch’ means the highest quality (pure) gold. This is the gold used by the National Bank to make Asrafis. The National Bank did not sell gold coins this year, citing a shortage of gold of the same quality.
Due to the lack of gold coins, the National Bank had sold ordinary and silver coins of one and two rupees until Asoj 31. These coins are called medallions and souvenirs. These coins are also made of silver and cupronickel (a mixture of copper and nickel).
Medallions are coins that are minted (made) 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 to engrave 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 a combined image of Lakshmi-Ganesh. The face value is mentioned on these coins. 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 dignitaries or personalities requested by the government, or any special day, year, occasion, program or achievement of national and international importance. Souvenir coins are also sold at face value.
More than 90 percent of the gold and silver coins sold by the National Bank in a year are sold during Tihar, according to the National Bank. This year, a maximum of four silver coins were provided to a person, according to the National Bank. Original citizenship 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 from 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 Asrafis is determined by adding the manufacturing cost to the market price of gold. When selling Asrafis to an individual, the National Bank fixes the daily price by adding 300 rupees per gram to the prevailing market price of gold. But in the case of institutions, the NRB has said that an additional Rs 500 per gram will be charged.
Crowd buying silver coins [Photos]
