Now, gold coins can also be purchased from post offices across the country. The department of posts is planning to introduce the scheme in all the post offices in India. It would sell 24-carat gold coins of 0.5gram, one gram, five grams and eight grams.

The department of posts on Wednesday said it will sell gold coins at post offices across the country to increase revenue. The scheme was introduced in 103 post-offices in Gujarat, Maharashtra, New Delhi and Tamil Nadu on Wednesday. The scheme would be implemented with the help of Reliance Money and World Gold Council. World Gold Council is an association of international gold mining companies. 

Union minister of communications, A. Raja said that people have always been attracted to gold. The department can generate additional revenue from the gold sale and cut its losses. The post department suffered a net loss of Rs1,249 crore in 2006-07. Gold coins would be sold at 7 percent margin as compared to banks which are selling at 12 percent margin.

The director and chief executive of Reliance money, Sudip Bandopadhyay said the company would implement gold sale scheme across the post offices across the country in few weeks.