Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Thursday, August 24, 2017

Bullion coins register growing public interest in Ukraine

The National Bank of Ukraine has sold 63,082 pieces of bullion coins worth $20.75 million since their launch, showing that the coins are gaining popularity among the general public.

Deputy Governor of the National Bank of Ukraine Vira Rychakivska noted an increase over the last year in the sale of the coins. In 2013, there were 45,342 pieces of bullion coins sold for a value of $14.76 million - 2.56 times more than the previous year in terms of quantity and 2.46 times more in terms of value.

The bullion coins are seen as a reliable form of long-term savings.

"The convergence between the coin price and the value of the amount of precious metal that is contained within the coin, as well as high liquidity of bullion coins make bullion coins attractive to investors. The increased purchases of bullion coins point to a shift in consumer behavior, the propensity to save, and the growing public interest in long-term investments. What is more, bullion coins are fancy gifts suitable for all occasions," Rychakivska said.