Can I buy gold coins at the post office?

A few days ago I wrote about buying gold coins in India, and in that post I wrote about banks selling gold coins. What I didn’t know at the time was that even post offices have started selling gold coins in India!

The post office sells 24 carat gold coins of the denominations of 0.5 grams, 1 grams, 5 grams and 8 grams. Right now, this service is quite limited, and not every post office sells gold coins.

Buy gold coins from the post office
Buy gold coins from post office

In fact this option is available only to people living in the following cities:

  • Chennai
  • Trichy
  • Madurai
  • Coimbatore
  • Salem
  • Delhi
  • Ahmedabad
  • Surat
  • Vadodara
  • Pune
  • Nagpur
  • Nashik
  • Mumbai

This link has a list of all the post offices within these cities that sell gold coins. I read somewhere that post offices in Jharkhand have also started selling gold coins, but didn’t find them in the postal department’s website.

There are several similarities in buying gold coins from the post office and buying them from a bank; for one – if you are buying gold coins worth more than Rs.50,000 – you will have to furnish a copy of your PAN card. For another – you will pay a certain premium because the post office says that it charges a commission of 4% on the gold coins. However, this premium might still be less than the one charged at a bank.

If you are looking to buy gold coins – then this opens up one more option for you – it might not be the cheapest option, but it is probably cheaper than buying from a bank, and offers much of the same confidence.

Image by Motoyen

76 thoughts on “Can I buy gold coins at the post office?”

  1. Hi Guys, Is there any post office at Thane or near Thane were Gold coings are sold ? I am eagerly looking to buy some. If some one knows please provide with full address. I hope some one can do me a favour. Thanks

  2. Can anyone give me the comparison of the charges imposed by banks and post office (apart from the normal gold rate)?
    Which is the best place to buy, Bank or PO, since both give pure forms of gold coins?

  3. It is a great move by RBI to allow Banks and Post Office to sell Gold Coins. Although Banks and Post Offices charge a higher rate for the same, but they also provide genuine Gold and not fake Gold as may the case with Local Jewellers

    However, RBI has still not allowed Banks to Buy-Back the Gold sold by them… RBI has only given them the powers to sell the Gold Coins and not to Buy the Gold Coins… Once this gets implemented, more and more people may be willing to buy from the banks as they can also sell back the same

    1. The post office or any bank will not buy it back but if you will be able to sell it a jeweler. These jewelers will deduct a lot of money at the time of sale but at present that seems to be the only option.

  4. Hi Mona\Pavan,

    There is lots of difference bet jewellery gold and Investments gold coins… the jeweller will charge Rs2800 on ornaments.. and above that they charge extra on making charge and wastage and the best part is that we wont knw the actual purity

    The gold coin concept is sometik introduced to help us from getting cheated from the jeweller… the coin offered from the Post office is 24crt gold(99.99 purity) swiss gold coins.. tey are certified, so tre is no question of getting cheated.. i had bought a 50gm gold coin from chennai – mount road, and i also had a cross check wth my jeweller, and the result was that gold was in the pureeeeest form

    And the gold coins we buy should be always bought on investment base… if yu are gonna buy today and sell tomorrow then yu have loss…. always advisable to have it min of 3yrs….

    Always best is to invest in certified gold,…

  5. did anyone get the gold coin from post office at chennai? does they really offer the discounts that they had posted on their website. all i hear is that they charge more from us than what we pay to jewelry shops. As pavan said y they are charging 3500 for 2800?

  6. But the gold coin sold in post office is very costly. When I enquired today, the 24 carat 1gm gold rate was 3500+ in post office but today’s 24carat gold rate is like 2800+ Rs outside.
    I am not sure why it differs so much and if it is really worth buying in post office?

  7. hi,
    i want 2 buy gold coins approax 10gm*5=50 gm. can anyone guide me ,from where i buy the gold coins i.e bank, post office,branded showroom,hallmark licensed shop……

    1. Hi,

      State Bank of India has lowest rate of Gold other than all banks in Jharkhand.

      Post Office may be tahe second choice as it’s rate are more higher than banks.


    1. You can buy gold coins by going to the bank branches. They sell gold coins at a premium and don’t buy it back from you so that’s something you need to be careful of but other than that it is the simple matter of going to a branch and buying them.

      I don’t quite understand what you mean by interest.

  8. PLease let me know if it is sold in MAngalore, KArnataka… which is the best place to invest for gold, i want to invset for my daughters future. is it post office or join any gold scheme in any of the known jewelry shop…..

    1. Hi,
      You get the coins in Bangalore and Mangalore too….
      The gold you get from Post office are 24 carat swiss gold and the gold yu get at the jeweller is 18 0r 22 carat Indian gold… So there will be difference in gold prices

      If yu are looking at investments and if yur daughters marriage is after years then yu can go for POst office gold the reason, your investments are safe because of certified coins

      When yu are going to the jeweller he normally charges a lot at the wastage and making charges , the mail concern will be the purity, just imagine you buy gold ornaments and in future yu come to knw its less pure????

      I have told my insight… 🙂

      1. hi, can any one suggest me where can i buy gold coins in bangalore is this option of buying gold coin available to bangalore or not

        pls suggest me with place


  9. hi, i had bought the gold coin from Post Office, good services from the PO employees and they are selling 24crt swiss certified coins and their purity is 99.99% which is purest form of gold…. these are best investments coins…. and when yu are buying these coins you should not think of selling these coins for the next three years…..the sale is high in the south india esp Tamil nadu and Kerala…
    (and i read an article in the newsletter that the India Post sold nearly 100kgs of gold during akshaya Tritya)

    If yu are looking out for investments in gold coins i feel that India post is the best place

  10. Recently I saw a news published that 24 carets gold coins which are 99.999% pure are selling in some post offices.Please issue the names of cities in AP in which they can be sold.

    1. Till some time ago they weren’t selling any in AP. I don’t know if anything changed, and if they have started sales in AP now.

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