2017 Indian sovereign availability?

[fehk2001]

23 minutes ago, sovereignsteve said:

Oh you do lower the tone of this place!

no me, BBC new and @kimchi said that 

[onlyroadtoheaven]

Excuse my ignorance but is the Indian sovereign released every year and if so in which month (or are they already out)? I love India and its culture so would like one of these in my collection. 

Extra points for me for using the search function of the forum and not starting a new thread 

[Roy]

Dunno

But it's a PAMP/India release so look there. 

Tbh, I don't feel any connection to India with these coins?

 

[StackSellRepeat]

I’ve only seen ukBullion sell these coins over the years, maybe they could help you out regarding release dates etc  

[onlyroadtoheaven]

2018 to be released in June 2018.

[StackSellRepeat]

I’d grab them quick mate, as they usually fly of the shelf quick

[westminstrel]

Having some knowledge of this specific series, I can tell you that MMTC PAMP India was granted only a 5 year license (from the Royal Mint) beginning in 2013 to mint these “I” mint mark Sovereigns.

It isn’t clear if that has been extended, and I haven’t heard otherwise despite asking some of my contacts in India, so @onlyroadtoheaven, I’m curious to know where you got information about the 2018 India Sovereign from.

[onlyroadtoheaven]

13 hours ago, westminstrel said:

Having some knowledge of this specific series, I can tell you that MMTC PAMP India was granted only a 5 year license (from the Royal Mint) beginning in 2013 to mint these “I” mint mark Sovereigns.

It isn’t clear if that has been extended, and I haven’t heard otherwise despite asking some of my contacts in India, so @onlyroadtoheaven, I’m curious to know where you got information about the 2018 India Sovereign from.

Its on their Indian Amazon interweb page.

UK Bullion emailed me with the following:

Unfortunately at the moment the Indian government has decided to only export 24 carat gold.  As sovereigns are 22 carat gold, we are unable to get a supply of them.  We will, however, advertise on our website any that we ‘buy back’ and should anything change in the future that means we can get a supply, we will advertise this on our website and social media.

[kimchi]

I wouldn't trust what UKbullion say as far as I could throw them after last year's debacle, but the PAMP Amazon page sounds interesting, thanks @onlyroadtoheaven

They are absolutely lovely coins indeed if the same quality as last year (perhaps previous years were just as good, I came to them late) but mintage seems to have gone down - which doesn't yet make sense to me for a gold loving country like India where Sovs are a traditional wedding gift.

Perhaps there has been an 'interloper' producing much cheaper repros? Any idea @westminstrel?

[westminstrel]

On 19/05/2018 at 05:06, kimchi said:

I wouldn't trust what UKbullion say as far as I could throw them after last year's debacle, but the PAMP Amazon page sounds interesting, thanks @onlyroadtoheaven

They are absolutely lovely coins indeed if the same quality as last year (perhaps previous years were just as good, I came to them late) but mintage seems to have gone down - which doesn't yet make sense to me for a gold loving country like India where Sovs are a traditional wedding gift.

Perhaps there has been an 'interloper' producing much cheaper repros? Any idea @westminstrel?

So here’s the deal...

Indians usually buy gold in the form of jewellery because they love wearing the stuff, and it’s also not out of the ordinary to wear jewellery for occasions and festivals (of which there are a lot in India). Also, women generally wear jewellery daily even if it’s just in the  form of rings (finger and toe), a necklace and earrings. 

Having said that, on one of the days that comprise the multi-day festival of Diwali, it is almost customary to purchase gold or silver because that day celebrates the Goddess of Wealth. This is typically when people buy precious metals in the form of small coins and bars as they give these to family and close friends.

Then there are weddings too.

Anyway, the famous jewellery houses in India actually make their own coins and bars with their hallmarks and designs - the designs usually depict a God or something related to the festival; so people prefer these.

But before the official 2013 India Sovereigns were available, jewellers used to sell “Sovereigns” that depicted an image of a crowned man (I assume to indicate King George V). There was no way people could have mistaken these for the genuine 1918 India Sovereign. Also, I believe these were usually 24 carat gold.

The new range of MMTC PAMP India Sovereigns have been heavily marketed during festival seasons, especially since they come in their red presentation box and are supposed to be ideal for gifting.

I had posted the mintages somewhere in this thread. I’ve aksed for confirmation and updated figures for the 2017 but haven’t heard back yet.

P.S.: @kimchi, sorry for the delay in replying. I did see your post but wasn’t able to find time all weekend to write up my own. 

[westminstrel]

On 19/05/2018 at 03:01, onlyroadtoheaven said:

Its on their Indian Amazon interweb page.

UK Bullion emailed me with the following:

Unfortunately at the moment the Indian government has decided to only export 24 carat gold.  As sovereigns are 22 carat gold, we are unable to get a supply of them.  We will, however, advertise on our website any that we ‘buy back’ and should anything change in the future that means we can get a supply, we will advertise this on our website and social media.

Maybe I’m missing something... are you seeing information about the 2018 India Sovereign on Amazon.in? If so, I can’t seem to find it ?