OREANDA-NEWS. The National Bank of Ukraine will sell the total mintage  of  “25 Years of Ukrainian Independence”?  gold commemorative coins  through auctions to be   held by the  Universal  Commodity Exchange  “Contract  house  UICE?.

“The holding of these public auctions will contribute to greater transparency and the efficient development of the domestic numismatic market,”  said  NBU Deputy Governor Mr Yakiv Smolii.

Mr Smolii said that this mechanism has the following advantages:

- enables the NBU to set a fair market price for commemorative coins;

- ensures that everyone intending to buy commemorative coins is provided with equal access to the trading paltform;

- transactions are settled by cashless payments only;

- an additional channel for sale of commemorative coins and souvenir products manufactured by the NBU.

Mr Smolii added that selling numismatic products through auctions is common global practice. The NBU held such auctions in 2009 – 2011.

The first auction at which a portion of “25 Years of Ukrainian Independence” gold commemorative coins will be offered for sale will be held at 12.00 p.m. on 17 August 2016.

The NBU draws special attention to the fact that “25 Years of Ukrainian Independence” gold commemorative coins  will be sold only through   auctions, to be held  in Kyiv. These  coins  will not be sold   through NBU regional offices and distributor banks.

Transactions shall be settled by cashless payments only (detailed information on the settlement procedure is given  in the Rules and Regulations governing auctions for sale of commemorative coins of Ukraine and souvenir products through the  Universal  Commodity Exchange  “Contract  house  UICE")