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New Term in Mini Ingots

by Ali Canbaz
New Term in Mini Ingots

Sarrafiye products come to mind as the first group of products that came to mind when investment is called gold and has been applied for many years. These products, which are printed by the Mint and Stamp Printing House from the state's fallowships, are safely bought and sold by the citizen.

The garrafi group consists of ( in the same names and five separate products as the Ziynet group and Coin group under the gold of the Republic, half, full, icibrarity, ) in the five. All of these products are 22 settings, 916/1000 purity.

Over time, with the start of demand for investment products in 24k gold, 24k 995/1000 purity products have been bought and sold in all jewelers for nearly 20 years.

Mini ingot gold, which was originally produced by companies with Refineries and sold, started to be produced by non-refinery companies, depending on the growth of the market share.

Again, mini nuggets, originally produced as 1 gram as the lowest gramage, began to be produced in 24-carat and under 1 gram of gramages, due to the fact that gold became expensive over time, weakening of buyers' purchasing powers. Over time, they were included in 22-carat products. However, the absence of a standard and control mechanism for companies that carried out these productions in this process stood out as a major shortcoming.

With the regulation that came into force in March 2023:

  • Production authority of 22-carat products is limited only to Mint,
  • Production of 24-carat 995-purity products can be done by companies with refinery licenses, those without refinery licenses will no longer be able to manufacture these products,
  • While refineries are making these productions, they will be able to produce 1 gram of 995/1000 products in the lowest gram. The highest gram in the mini ingot category will be 100 grams and these products will be served in a packaged manner,
  • For each of the products to be produced, a barcode and a serial number will be taken from the mint,
  • Control and inspection authority regarding the settings and grams of products produced by refineries will be carried out by the Mint.

It is a nice development that these steps, which are of great importance for the consumer, become operational as soon as possible. With this regulation, the consumer will no longer have question marks about the gramage and adjustment of the products sold.