Gold Coin Deposit Certificate
A gold coin deposit certificate is a security document that shows that its holder has a certain amount of gold coins in the warehouse of the Iran Commodity Exchange (Refah Bank campus treasury). This certificate of deposit allows people to own and buy and sell coins in the stock market without the need to physically store them. In this system, the only coin approved by Anbar is the full spring Azadi coin with 900 carat and weight of 8.133 grams, minted from 1386 onwards.
How the gold coin deposit certificate works:
1. Deposit: People deposit their coins in the warehouse of the Iran Commodity Exchange and receive a certificate of deposit in return.
2. Exchange transactions: These certificates can be traded as securities in the stock market.
3. Physical delivery: Whenever the certificate holder wants, he can go to the treasury and pick up his physical coins.
Advantages of gold coin deposit certificate:
1. Reduction of fees and wages: Gold coin deposit certificate transactions in the exchange have a much lower fee (about 0.25%) than physical coin transactions (1 to 2%).
2. Higher security: Securities are more secure than physical coins. In case of loss or theft, only the depositor or his legal representative can claim the coins.
3. Active market and high liquidity: The stock market, having permanent customers, provides the possibility of quick and easy buying and selling of coin deposit certificates.
4. Ease of storage and transaction: There is no need to physically store coins and transactions are done electronically, which eliminates the risks of keeping coins at home.
Types of coin transactions in the stock market:
1. Cash transactions: In this type of transaction, settlement is done in cash and in the shortest possible time.
2. Credit transactions: In this method, the buyer can get the ownership of the coin immediately, but the payment will be made in the future.
3. Forward transactions: This type of transaction allows the buyer to buy the coin in the future at the current agreed price.
4. Futures: This method allows the buyer and seller to enter into contracts to buy or sell coins on future dates at a specified price. This type of transaction is used to reduce the risk of price fluctuations.
Conclusion
The certificate of deposit of gold coins allows investors to buy and sell coins in the stock market without having to worry about keeping them physically. This method has more advantages than physical buying and selling of coins due to lower fees, higher security and ease of transactions. In addition, the existence of different types of transactions in the stock market provides flexibility and various possibilities for investors.