The National Bank of Ukraine launches an investment coin issuance program, which was announced by Viktor Nesterenko, Director of the General Department of Money Circulation Regulation, at the public session of the Board of the National bank of Ukraine on 15 November 2011.

"The aim of issuing these coins is, above all, to improve the investment climate of the country, develop the precious metals market and provide additional instruments for saving investors’ funds,” noted Viktor Nesterenko.

According to him, this new banking product will become a good alternative for saving funds in the foreign currency and a reliable store of value as precious metals have fair value. Under a developed investment coins market, they would play a role of one of the most important instrument for regulating money circulation.

The keynote speaker emphasized that the prices for investment coins are lower than those for commemorative coins, which is determined by lower production costs owing to a large mintage, much lower quality of coinage and simplified packaging.

"Transactions on purchase-sale of investment coins in accordance with international practice are carried out at the price of the precious metal (LME), which is accompanied by adding up a small margin. Under current practice, VAT is not imposed on transactions on purchase-sale of investment coins,” said Viktor Nesterenko.

The General Department of Money Circulation Regulation and Mint have resolved all the issues related to issuing investment coins. In this connection, the relevant regulatory documents, which will regulate the procedure for issuing investment coins and carrying out transactions with investment coins, have been elaborated.

We would like to remind you that investment coins are coins made of precious metals (gold, silver, and platinum) affined to the highest international standards, which are legal tender of Ukraine and issued regardless of themes, being unlimited in mintage. The face value of investment coins is much lower than the value of a precious metal contained in the coins, which makes it inexpedient to use them as legal tender, thereby turning them into the investment and hoarding object.