Exploring the Allure of Gold Coins in Dubai

Dubai has always been among the top gold trading states in the Middle East and all around the world. Now, with the establishment of the Dubai Multi Commodities Centre, which has control over all the precious metal, and other commodity trading in Dubai, Dubai is trying hard to gain an even bigger business on an international level in gold business. Dubai has issued its bullion gold coins in 2007 called “Visions of Dubai”. These are special gold coins, which represent the highest reachable quality and carat of gold.

Long time ago, in most states gold counted as the premiere commodity and gold coins counted as the main way of payment. The issuing of money first meant to exchange legal right over a given quantity of gold, represented with money instead. That is why most central banks still have their gold reserves in the quantity of money stored at them. Gold coins this way have slowly disappeared from the street and from then on only the richest had their gold coins kept to them, along with the banks as well. However the role of gold coins, such as the role of gold bars is still very strong in the monetary world. Most states have their gold reserves and many countries issue their so-called Bullion coins. The bullion coin represents the highest value of gold out of which it’s been made. They are sold or kept as a form of investment. There are strict regulations on which coin can be counted as a bullion coin. These can also be issued in silver, platinum or palladium. Each gold coins with extra purity, which have been released after 1800 by a state as a form of investment, count as bullion gold coins. Famous examples are the American eagle series, released by the United States or the Canadian Maple Leaf bullion coin series that are sold in all precious metals.

In 2007, Dubai could first release its bullion coin called “Visions of Dubai”. This bullion coin is only released in the purest 999.9 quality 24-Carat gold. The Visions of Dubai can be bought as a souvenir and as an investment, straight from the Dubai Multi Commodities Centre, who was the main responsible authority, which has guided its making. The gold coin bears the image of the Sheikh of Dubai, Mohammed Bin Rashid al Maktoum on one side and on the second side there is either the Burj Al Arab Hotel, trademark of Dubai or the Palm Jumeirah Island, the biggest ever manmade island of this shape and form for living. This latter type of gold coin was issued in 2010. Each Dubai gold coins carry the DMCC’s stamp of quality and authenticity. The producer was DMCC’s Emirates Gold Refinery.

Currently if you want to get any other types of gold coins in Dubai, you must become a trading member of the DMCC first and it’s the main authority for all sorts of gold trading. In Dubai, you can buy all sorts of jewellery in the jewellery stores. For those who wish to buy gold metal in any other forms they must be in possession of the Global Multi Commodity Receipt (GMR) which is the only authorising document letting its holder purchase gold in diverse forms. The different forms of GMR contain the Dubai Gold Receipt and the Dubai Commodity Receipt together with the International Commodity Receipt. The Dubai Gold Receipt works as an electronic vault system. Only holders of the Dubai Gold Receipt can buy up gold in scraps, bars, coins or jewellery alternatively. The other way to go is to contact with the Dubai based Kaloti Jewellery Group which is the main independent group which deals with wholesale gold and offers bullion gold coins with the authorisation of DMCC:

So, if you want to purchase any sorts of Dubai gold coins, either turn to the DMCC’s Dubai Gold and Commodities Centre office or contact Kaloti Jewellery Group either by phone or through their website.

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