Reliance livens up the market

S Bandyopadhyay

Reliance Money’s entry into the gold coin market has lent a buzz to the lucrative but otherwise dull market. It is offering silver coins of equal weight for every gold coin it sells (in a festival offer valid till November 15). Reliance Money gold coins are available in 0.5 gram and 1 gram, in addition to the regular 5 gram and 8 gram coins.

“We have entered the gold coin market in a big way and have positioned our coins in the gifts, cards and stationery products (GCSP) segment. The routine gift items have no long-term value, unlike gold coins. We’re sure that many people will opt for pure gold coins if they’re available at roughly the same price as other festival gifts," says Sudip Bandyopadhyay, Director & CEO, Reliance Money, who predicts that the coin market will grow at 35 per cent CAGR over the next five-to-six years.

Reliance Money has drawn up mega plans to corner a major share of this market. “Our 24 carat gold coins are 999.9 pure. We import them from Switzerland’s Valcambi SA in sealed covers with Swiss Assyar’s certificate for retailing in India. We also buy back our coins, which no bank or financial institution does," he says. The coins are available at over 5,000 outlets run by Reliance-ADAG companies and partner outlets.