ithin a year since its launch, the Indian Gold Coin, the country’s first sovereign gold coin, has become a favoured channel for investment in the yellow metal among consumers, according to a detailed study commissioned by the Metals and Minerals Trading Corporation of India (MMTC) and the World Gold Council (WGC). e Indian Gold Coin is a key initiative of the gold monetisation programme launched by Prime Minister Narendra Modi on November 5, 2015. e report titled ‘India’s gold investment evolution, Indian Gold Coin: An introduction to branded gold coins’ highlights consumer preferences mapped against a wide range of parameters like awareness, relevance, uniqueness, size and accessibility. e report is based on a survey conducted by Nielsen India amongst 1,180 respondents from eight top-tier Indian cities – Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad and Kochi. e report said there was marked enthusiasm for a branded coin as almost two-thirds of respondents said they were likely or extremely likely to purchase an Indian Gold Coin and only 2% said W they were not at all likely to purchase. Encouragingly too, 76% said the coin was relevant to them and 72% felt it was unique. Among respondents, 87% said that guaranteed purity was relevant or extremely relevant to them, with 85% stating that national manufacture and the Government of India backing were relevant or extremely relevant. e hallmarking and the standardisation of the coin scored highly too, with 84% of respondents citing them as relevant or highly relevant. Overall 56% said they would buy the coin on the first day of Diwali, Dhanteras, and throughout that festival, while 47% said they would buy it to commemorate an occasion. Festivals and giſts top the list for men and women, but 40% of men are likely to buy the Indian Gold Coin as an investment at any time of the year, compared to 32% of women. Some key findings of the research: • ere is a clear preference for an Indian Gold Coin over regular, unbranded coins. • More than 60% of respondents were likely to purchase the Indian Gold Coin and more than 70% believed it was unique and relevant. • e most appealing characteristics of the Indian Gold Coin are its guaranteed purity, its standard features, Government backing and the Make in India imprimatur. • Banks and branded jewellers are the preferred channels to purchase the coin. • Consumers are most likely to buy the coin during Diwali or as giſts for birthdays, marriages and other special occasions. • e two sections of the population for whom the Indian Gold Coin has most appeal are women and experienced gold investors. Indians Buy 185 Kg Of National Gold Coin In First Year 66 SOLITAIRE INTERNATIONAL NOVEMBER 2016 Festivals and gifts top the list for men and women, but 40% of men are likely to buy the Indian Gold Coin as an investment at any time of the year, compared to 32% of women.”