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The Central Bank Governor Mugur Isarescu Thursday said that he was favorable to selling to the Romanian public the gold coins in its gold reserves.
Of the country's 104 tons of gold, some 14.7 tons are made of gold coins. During the communist regime holding gold coins was made illegal, and their possession liable to confiscation. After the demise of the communist regime, some 3.2 tons of gold had been returned to the population, 2.2 tons in their monetary equivalent, since the actual coins could not be located.
"My idea is to demystify the idea of holding gold in ones possession. This is why I suggest to sell the gold coins to the public, and with the money resulted to buy gold bars. Thus the Central Bank's gold reserve will not drop. I would really go for this kind of action," Isarescu said.
The gold coins dubbed "little roosters" were minted in Romania as a symbol of the unification of the country in the 19th and 20th century, but their possession by private individuals was forbidden in 1946.
The little roosters are a copy of the 20 Francs coin, minted in France, which had on one side the image of the Gaelic Rooster.
Translated by AAP
