In India, the word ‘gold coin’ is commonly used to describe a round medallion bought for savings or gifting purposes. The category includes minted coins in rectangular, oval and other shapes.

Most organised refiners produce coins ranging from 0.5g to 100g. The most popular weights are 10g and less. Many manufacturers also produce a standard range of small coins from 1g, 2g, 5g and 8g (also known as guinea).

Gold coins are available in a range of designs. Corporate companies and jewellery retailers often have their logo featured on one side of the coin and a standard or tailor made design on the other. Many coins depict a Hindu god or goddess or religious motif on the reverse. A few coins depict Queen Victoria, Edward VII or George V. Other country coins like Panda coin (China), Maple Leaf (Canada) and Kangaroo (Australia) are also available. Coins with the initials of the manufacturer and retailer unit are also sold.

You can buy coins for three primary purposes: family gifts, corporate gifts or personal savings. Demand tends to be seasonal and peaks during festivals and the wedding season. Retail stores are especially stocked for Diwali and weddings between October and November and for Akshaya Tritiya between April and May. Individual investors also purchase coins for savings purpose. Corporate companies also buy large quantities for gifting purpose.

When you purchase a coin make sure that it is hallmarked. Hallmarking ensures gold coin’s purity that you are assured of getting what you are paying for.