Sunday, November 23, 2008

Singapore Mint showing signs of inflation?

Really wonder if our Singapore Mint is also showing signs of inflation....

I do collect some of the Lunar coins that are launched each year before the Lunar New Year. For the upcoming 2009 year of the ow, the following was seen on their website:

A 1-oz 999.9 Fine Gold Proof Coin that has a face value of 100 Hundred Singapore Dollars!

However, flipping through some book published by the Singapore Mint

In the Year 1997, which is exactly 12 years ago, a similar 1-oz Gold Coin was launched with a face value of 250 Singapore Dollars!

Does this mean that our Singapore currency has decreased withing 12 years as pegged to gold prices? If it has, the decrease is indeed drastic!
Anyway, for a Gold Bullion coin, according to UOB gold and silver prices, a 1-oz coin is currently sold at $1351.41 by the Bank. So how does that explain the huge price tag of SGD $2084.00 by the Singapore Mint?

A worthwhile collection that will go down with inflation?

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