The National Bank of Ukraine will sell the total mintage of “25 Years of Ukrainian Independence” gold commemorative coins through auctions to be held by the Universal Commodity Exchange “Contract house UICEˮ.
“The holding of these public auctions will contribute to greater transparency and the efficient development of the domestic numismatic market,” said NBU Deputy Governor Mr Yakiv Smolii.
Mr Smolii said that this mechanism has the following advantages:
- enables the NBU to set a fair market price for commemorative coins;
- ensures that everyone intending to buy commemorative coins is provided with equal access to the trading paltform;
- transactions are settled by cashless payments only;
- an additional channel for sale of commemorative coins and souvenir products manufactured by the NBU.
Mr Smolii added that selling numismatic products through auctions is common global practice. The NBU held such auctions in 2009 – 2011.
The first auction at which a portion of “25 Years of Ukrainian Independence” gold commemorative coins will be offered for sale will be held at 12.00 p.m. on 17 August 2016.
The NBU draws special attention to the fact that “25 Years of Ukrainian Independence” gold commemorative coins will be sold only through auctions, to be held in Kyiv. These coins will not be sold through NBU regional offices and distributor banks.
Transactions shall be settled by cashless payments only (detailed information on the settlement procedure is given in the Rules and Regulations governing auctions for sale of commemorative coins of Ukraine and souvenir products through the Universal Commodity Exchange “Contract house UICEˮ).
The auction terms and conditions are available on the Exchange's official website.
Information on the upcoming auctions will be published in advance on the official websites of the NBU and the Universal Commodity Exchange “Contract house UICE”.
For reference
On 17 August 2016, the NBU puts “25 Years of Ukrainian Independence”ˮ gold commemorative coin into circulation. The 250 hryvnia coin is made from gold with a fineness of 900 in “special uncirculated quality”. The weight of the precious metal in fineness – 62.2 g, diameter – 42.0 мм. The edge of the coin is smooth with in-depth legends indicating the metal and its fineness – Au 900, its weight in fineness – 62.2 g and the logo of the National Bank of Ukraine Mint. Decoration element - enamel.