Deposit coins? – Trade News
According to Tejaratnews, the certificate of deposit is a document with the content of gold coins, with the difference that instead of keeping the coin physically, the owner can trade in the stock exchange with one card by delivering his coin to the bank.
In this certificate, the coin is kept in the warehouse of Iran Commodity Exchange located in the treasury of banks. In this warehouse, after confirming the authenticity of the coin, a gold coin deposit certificate is issued.
Coins traded on the Commodity Exchange must be approved by the warehouse and all coins of the whole spring of freedom with 22 carats (purity of 900 out of 1000) and weighing 8.133 grams.
The value of each gold deposit certificate is equal to 0.01 of a gold coin, which means that to buy a full coin, you have to prepare 100 certificates of deposit all spring long.
For example, if you want to buy six coins all spring long, you have to buy 600 certificates of deposit. Simply put, multiply the number of coins you want to buy by 100.
The advantage of a gold coin deposit certificate over physical storage
– The maintenance of the gold coin deposit certificate is completely secure in comparison with its physics and is guaranteed by the bank and is insured against all kinds of accidents such as theft, fire, earthquake and so on.
– Gold coin deposit certificate can be used as collateral for obtaining various facilities.
– Coins in the bank treasury are authenticated by specialized and official experts.
– Gold coin deposit certificate can be traded online in the commodity exchange.
– The rate of transfer fee for gold coin deposit certificates in the stock exchange is lower than the market.
– One working day after the sale, it is possible to receive the gold coin deposit certificate.
– The price of gold coins is determined based on supply and demand in the stock market.
How to cancel a gold coin deposit certificate?
The gold coin deposit certificate can be revoked and the physical form of the coin can be obtained instead. The first step is to go to the broker and request the revocation of the certificate.
The second step is to get a turn from the General Directorate of Treasury Management, finally you can go to the gold coin treasury, the coin can be received physically.
In general, it can be said that gold coin deposit certificate has better conditions than buying coins and more profit can be obtained in coin transactions in the commodity exchange.
Buy coins or certificates of deposit?
As mentioned, buying gold or coins physically has its own risks and problems. Coins or gold must also be stored properly. One of the best ways to handle this is to use a certificate of deposit.
According to economists, buying a certificate of deposit also has risks and may cause losses with price fluctuations in the stock market.
Another problem with this investment is the lack of access to coins. You may need a gold coin during the investment period, in which case you will have to wait at least a week to access your coin.
Buying and maintaining coins physically has its own advantages and disadvantages, and on the other hand, a certificate of deposit can be more secure and profitable. The type of investment depends on the individual and its forecast for the future.
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