A few years back, I had the opportunity to meet some friends and colleagues from India, and I felt like I was in an exclusive club.
They had travelled to Mumbai and Bengaluru, two cities with large gold reserves, to meet and interact with a few people in the industry, and one of them was Aruna.
She was also the lead developer of the coin exchange platform Aramaica.
Aruna, who is now one of the top gold coin traders in the world, is a coin expert, a trader of bullion and precious metal coins, and a passionate collector of rare coins.
Aruna’s passion for coins began when she was young, she said, and it’s only grown over the years.
“My first coins came from a small collection in the early 90s,” Aruna said.
“I have amassed over 1,000 gold coins over the past 15 years, and the majority are worth between Rs 10,000 and Rs 20,000 each.
I collect gold coins from all corners of the globe and from places like Egypt, South Africa and the UK, and have acquired over 40,000 coins.”
My passion for gold coins is just a natural thing that comes from my own personal collection and I’m not trying to compete with the industry in terms of sales.
“Even when I’m buying coins from an Indian bank, I will always try to get the best price possible, because that’s the only way I can afford to do so.”
I’ve also spent quite a lot of time researching and researching on my own about how to buy coins and what is best for my personal collection.
“This has allowed me to accumulate more gold coins than I would have been able to have done without all these coins.”
Aruna, one of India’s leading gold coin sellers, has sold over 400,000 bullion coins in the last 10 years, including over 100,000 in the past two years.
She says the coins are worth a lot to her customers, and they’re a lot more valuable than gold.
“It’s easy to sell them for cash or a small amount of money, but they are very valuable in terms in terms with quality,” she said.
My favourite part of selling gold coins to my customers is the fact that it gives me the opportunity of buying them at a fair price.
The price of gold is still a lot lower than gold, but if I get a good offer, I usually get the gold coins for less than I could have paid for them.
“This also helps in the long run,” she added.
Gold coins have always been an attractive investment because of their scarcity, Aruna says.
“There are no mintages of gold coins, so it is not as easy to get a lot,” she explained.
“In India, gold is only produced on the day of the mint, so the price is high.”
She says a lot has changed over the last 15 years in terms for bullion trading.
Over the last decade, the price of bullions in the Indian market has dropped significantly.
But what about gold?
Arunas biggest concern is the lack of gold in the markets, as it is believed that this is what makes India the most vulnerable country to a global economic downturn.
“India has been a very vulnerable market for over two decades now, with no shortage of demand, and so gold is the only option that we have for our customers,” Arunas friend and colleague Arunan said.
“So in India, it’s not just a matter of gold, we also have silver, platinum, palladium, and even palladium coins available.”
Arunan has been trading bullion for over a decade, and said he’s never seen an uptick in demand for gold in India.
“We’ve never had a lot in the country.
I think we have a lot left to invest in the bullion market,” he said.