Mint to introduce half and 1 gram gold coins
ISTANBUL - Anatolia News Agency
![Mint to introduce half and 1 gram gold coins](http://image.hurimg.com/i/hurriyet/75/0x0/59c6af2645d2a027e8397a76.jpg)
Giving gold jewelry to newly weds is a tradition in Turkey, but higher prices bite.
The Turkish state mint plans to introduce 22-carat half- and 1-gram gold coins in a move to address the changing demands of customers as bullion prices rise. Quarter-, half- and full-gold coins, known as Cumhuriyet [Republic] gold coins, are popular gifts for weddings and circumcision feasts in Turkey.However, the rise in gold prices has pushed Turkish people to seek cheaper alternatives to traditional gold coins. A quarter-goldcoin weighs about 1.7 grams, while a half-gold coin weighs a little more than 3.5 grams.
Jewelers’ chambers previously urged the state mint to start producing half- and 1-gram gold coins as it would have caused confusion in the market if sector members had started introducing cheaper alternatives by themselves, thereby undermining customer trust in Cumhuriyet gold coins. A full Cumhuriyet gold coin, which weighs about 7 grams, sold for about 645 Turkish Liras yesterday at 3 p.m.