Skip to comments.New silver and gold coins
Posted on 12/17/2012 10:25:09 AM PST by Greysard
The Department of External and Public Relations of the Bank of Russia informs that on 17 December 2012 in the framework of the monetary program "Sochi 2014" Bank of Russia issues bullion coins dedicated to the XXII Olympic Winter Games 2014 in Sochi: 3 Rubles silver, gold nominal 50 and 100, with the year of issue "2012".
(Excerpt) Read more at cbr.ru ...
Second, new issues of bullion coins are not that frequent, and some FR readers may come across them at some point. They won't be issued in huge numbers, but the 3 and 50 Rubles coins will be minted in quantity 300,000 each, and the 100 Rubles coin will be minted in quantity 100,000. They will be around.
Third, this is a rare event for Russia to issue bullion coins. I am not an economist, but I suspect that only countries with a reasonably stable economy can do that. Note also that these coins are a legal tender in the country, and they can be traded everywhere because they have inherent value.
The coins are minted with satin finish (uncirculated.) The weight is in grams.
Here is the link to the original press release, translated by Google.
stable economy like South Africa or China?
Canada minted a whole bunch to commemorate the Vancouver Olympics and China did the same for the Olympics in Beijing
Precisely! Yes Sir, I am going to buy “anything” made and promoted from newUSSR...... NOT.
Have been hearing about alloy efforts between minimal gold and maximum tungsten with coins plating in gold to make it very difficult to know uless its run through a good metalurgical lab.
One troy ounce = 31.1 grams so that size Russian “coin” would be of interest to we gold bugs if the premium was not too high.
If they are anything like the Moscow Olympic coins, it won’t be long before they are retailing at spot.
Russia, like Canada, is pulling plenty of oil from the ground.
and plenty of gold, more to the point. What unites the nations who mint gold coins, is: gold production