The National Bank of Ukraine continues to implement the program for issuance of investment coins of Ukraine. On 10 August, the NBU put into circulation the gold investment coins "Archangel Michael” of 10 hryvnia face value (1/2 oz.) and 2 hryvnia face value (1/10 oz.)

According to Ms. Vira Rychakivska, Deputy Governor of the National Bank of Ukraine, the coins put into circulation by the National Bank of Ukraine, have completed a series of investment coins "Archangel Michael”. After being put into circulation, the investment coins are transported from the National Bank of Ukraine to the authorized banks. Soon these coins will go on sale at the Ukrainian banks.

Ms. Vira Rychakivska has said that the Ukrainian investment coins are in good demand. As of today, the National Bank of Ukraine has sold 9,693 investment coins worth UAH 27.65 million, which came in different denominations. The authorized banks have placed an order for 31 thousand investment coins to be minted in 2013.

Ms. Vira Rychakivska has added that the National Bank of Ukraine has purchased 1.9 tons of gold from households in the past seven months (1.8 tons of gold was purchased in 2011), which allows the NBU to make the gold investment coins.

Ms. Vira Rychakivska has unveiled the NBU's plans to step up marketing activity aimed at promoting the sale of investment coins by broadening the distribution channels and revising the price-setting practices. The NBU regional branches sell investment coins directly to the public. The Ukrainian banks will be offered the possibility to engage in selling investment coins on a commission basis. She has added that investment coins have an open (non-fixed) mintage, which is determined by demand.

The National Bank of Ukraine has issued new types of investment coins that come in different denominations, with the aim of providing a wide range of this product and making it accessible to the public.

Ms. Vira Rychakivska has claimed that “investment coins have proved to be a popular investment instrument that will have a promising future”.

She has emphasized that the National Bank of Ukraine offers attractive investment instruments that will make an alternative to foreign exchange savings and are regarded as a reliable store of value. These include investment coins, foreign currency-denominated T-bills and government treasury notes.

The Ukrainian investment coins are made of gold and silver with a fineness of 999.9. The National Bank of Ukraine has so far issued gold investment coins "Archangel Michael” of 20 hryvnia face value (1 ounce) and of 5 hryvnia face value (1/4 oz) and silver investment coins of 1 hryvnia face value (1 ounce).

The newly issued investment coins "Archangel Michael” have the following features:

The gold investment coin of 10 hryvnia face value – Au 999.9; weight in fineness 15.55 g (1/2 oz.); diameter 25.0 mm, edge thickness of the coin 2.0 mm; the coin edge "sectoral corrugation"; quality "uncirculated" (with the coin issue year "2012" – 2 500 pieces);

The gold investment coin of 2 hryvnia face value – Au 999.9; weight in fineness 3.11 g (1/10 oz.); diameter 16.0 mm; edge thickness of the coin 1.1 mm; the coin edge "sectoral corrugation"; quality "uncirculated" (with the coin issue year "2012" – 6 000 pieces).

Obverse: above there are the Small Coat of Arms of Ukraine with the semicircular inscription НАЦІОНАЛЬНИЙ БАНК УКРАЇНИ (National Bank of Ukraine), in the centre of the coin framed with an octagonal cartouche there is a shield with the emblem of the National Bank of Ukraine thereon – allegorical figures of griffins with the hryvnia (monetary-weight unit of Kyivan Rus’) placed between them. This emblem symbolizes safeguarding and augmentation of the country’s gold reserves. On the coin obverse there are indicated the coin face value, coin issue year, as well as the indications of the metal and its fineness and coin weight in fineness.

Reverse: there is depicted the Taxiarch Archangel well-known for winning a victory over evil and being a patron of warriors, the sick and the suffering; there is a circular inscription: …ЗА НАС І ДУШІ ПРАВЕДНИХ, І СИЛА АРХІСТРАТИГА МИХАЇЛА/ FOR US AND SOLES OF RIGHTEOUS MEN, AND ARCHISTRATEGOS MICHAEL’S STRENGTH (lines from T. Shevchenko’s "Haydamaks").

Designers: Volodymyr Taran, Oleksandr Kharuk, Serhii Kharuk; engravers: Volodymyr Atamanchuk, Sviatoslav Ivanenko.