MMTC-PAMP plans to raise sale of Royal Mint's gold Sovereign commemorative coins in India

MMTC-PAMP India, which was granted the license to sell The Royal Mint's gold Sovereign commemorative coins in India in 2013, is targeting a sales figure of 1.5 lakh pieces in India for this year, reports say. Last year the company noted it sold 80,000 pieces.

MMTC-PAMP was granted a license by The Royal Mint in 2013, to strike and market the commemorative Sovereign, made of 22 carat gold bearing the classic Benedetto Pistrucci 'St George and the Dragon' design depicted in the original Bombay Sovereign in 1918, when The Royal Mint operated a branch mint in India for a single year. The year 2013, marked the first time The Royal Mint initiated to have its commemorative Sovereign marketed in India, since 1918, reports say.

To achieve the increase in sales target, MMTC plans to expand its distribution network and is also approaching high-end jewellers. It is also considering increasing the product offering from the current 'full-Sovereign' in 8gm gold to include 'half-Sovereign' in 4 grams gold soon, reports say.