Dubai: 'Visions of Dubai', the emirate's first souvenir 22 carat gold coin, will be available in stores by the end of the month and in units ranging from 34 gm to 3.4 gm.
The Dubai Multi Commodities Centre (DMCC) said in a release that the coin offers a new gift option for Eid to tourists and residents. The Centre has named Jumeirah Retail and Dubai Duty Free as the first two authorised distributors for the collectible keepsake.
The first coin in the series features the image of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on one side, and the Burj Al Arab engraved on the other side. Other coins in the series will feature landmark images of Dubai.
The coins can be purchased in a presentation pack of four coins or individually. "In the midst of the Holy Month of Ramadan, we are specially pleased to announce the launch of this series of gold coins that reflect the guiding spirit and vision of the emirate," said Colin Griffith, executive director for gold and precious metals at the Commodities Centre.
Significant value
Moaz Barakat, Managing Director of the World Gold Council Middle East, Turkey and Pakistan, said there has been an increasing demand for souvenir gold coins worldwide. Global gold coin sales reached 129 tonnes in 2006, up from 111 tonnes the previous year. The coin will add significant value to the gold trade and will promote Dubai as 'The City of Gold," he said.
