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Tuesday, 23rd June 2009 (700 views)

The New Zealand Mint is to produce a new gold coin after signing an agreement with a Swiss supplier of the metal.

It has teamed up with bullion firm Produits Artistiques Metaux Precieux to manufacture the one-ounce Pacific Sovereign and hopes the deal will enable it to break into markets where availability of the precious metal is limited.

According to New Zealand-based Stuff, 1,000 of the coins will go on sale in the country, with the remainder destined for the overseas markets.

Bullion dealer for the mint Michael O'Kane told the news source that the item is legal tender in Fiji, adding that the Pacific islands group is seen as an exotic destination by Europeans.

In related news, the People's Bank of China recently announced the launch of new gold coins to mark the 30th anniversary of the introduction of the first commemorative currency in the country.

 

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