Trade in gold coins rising

first_img Facebook Twitter: @NeosKosmos Instagram Pawn shops in downtown Omonia and other parts of Athens have been doing brisk business in the illicit trade of sovereign gold coins, according to a report in Kathimerini this week.The research reveals that hundreds of citizens have been turning to self-proclaimed experts in the trade of gold, bypassing official banking practices in a bid to acquire gold sovereigns – at a fraction of the legal price – without having to produce proof of income or assets.While gold sovereigns are sold at around 290 euros at the Bank of Greece and Pireaus Bank – the country’s only two licensed suppliers – small-scale traders offer prices ranging from 8 to 30 euros. Unlike the banks, however, customers can purchase in excess of 15,000 euros’ worth of gold sovereigns without having to explain the provenance of the money they are investing.Source: Kathimerinilast_img

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