Slovakia considers issuing bullion coin
- Published: Mar 17, 2014, 8 PM
Slovakia's mint, the Kremnica Mint, is considering issuing gold and silver bullion coins.
Kremnica Mint announced those plans in a notice seeking collector opinion in a seven-question poll posted at its website. The .999 fine gold coins would be issued under license with an African country like Gabon or Congo, or through the Pacific island nation of Niue, or some other location.
The gold coins would be free of any value-added tax, and the price would be based on the metal, licensing fees and production costs, according to the mint. At current pricing, a tenth-ounce gold coin could cost as low as 120 euros ($167 U.S.), and a 1-ounce coin would cost at least 990 euros ($1,376 U.S.) each.
A .999 fine silver coin is also under consideration, but it would be subject to the VAT.
One side of coins would depict the face value, and name and national emblem of the issuing country. The other side would depict a motif chosen by the Kremnica Mint.
According to the notice, if the project goes forward, Kremnica Mint has committed to purchase back these coins from customers, if customers for some reason want to sell them, creating the two-way market critical for bullion sales.
The questionnaire can be found at www.mint.sk/ankety.php.