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Posted at: May 7, 2016, 1:30 AM; last updated: May 7, 2016, 1:30 AM (IST)

MMTC Pamp launches new gold coin ‘Tola’

Octagonal coin

  • It will be of 11.6639 grams and the company said it would mint 5 lakh pieces of these coins in the current fiscal
  • ‘Tola’ is an octagonal shaped coin with distinctive knurled edges and an intricate finish with pure gold
  • It has the design of a traditional weighing balance and the reverse features ‘potli’ containing one hundred ratti seeds

New Delhi, May 6

Ahead of Akshaya Tritiya festival, gold and silver refiner MMTC Pamp today launched new gold coin ‘Tola’ of 11.6639 grams and said it would mint 0.5 million pieces of these coins in the current fiscal.

The ‘Tola’ is an octagonal shaped coin with distinctive knurled edges and an intricate finish with pure gold. It has the design of a traditional weighing balance and the reverse features ‘potli’ containing one hundred ratti seeds.

“For centuries, gold was measured in tola but the advent of metric system overtook this historical association. We have tried to capture the ancient wisdom and heritage in the ‘Tola’ coin,” MMTC-Pamp Managing Director Rajesh Khosla said.

The company, which already mints different designs of gold and silver coins, aims to manufacture 0.5 million pieces of ‘Tola’ coins this fiscal, he told reporters.

In its initial phase, Khosla said the ‘Tola’ coin will be available for purchase in select outlets of MMTC-Pamp outlets, Stock Holding Corporation of India (SHCIL), Indian Potash Ltd, as well as reputed jewellers in 28 cities including Chennai. PTI

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