Turkish mint handling of gold bullion coins 1 1

[olympicsos]

The Turkish mint is the world's largest producer of gold bullion coins (even outpacing the US and Canadian mints) and for the sentimental value that gold has in Turkish culture (much more than American culture as gold coins are given as wedding gifts, births etc.) the handling of the coins at the mint is horrible. Many of them would end up in a details holder or body bag even. I've never seen a Turkish gold coin grade higher than MS63 or MS64. West Point does a pretty good job! 

Go to 4:03 

 

 

[Henri Charriere]

The Turkish Mint?  In Ankara? Who knew?  How come GoldFinger1969 did not include that fact in his fancy colored graphs? I have millions in old Turkish lira (currency) which dissolved/deteriorated/disintegrated/depreciated into nothingness via devaluation -- and now this? Gold bullion? You know, if it weren't for bad luck I wouldn't have any luck at all. Oh, I forgot. It's Turkiye now. Sheesh!

[VKurtB]

My first wife was Greek. Trust me, she was quite clear that the worst part of Türkiye is/was the Turks. I learned early on not to even bring up the subject with her grandmother. WOW!

[sgen1313]

On 3/19/2024 at 5:18 AM, olympicsos said:

The Turkish mint is the world's largest producer of gold bullion coins (even outpacing the US and Canadian mints) and for the sentimental value that gold has in Turkish culture (much more than American culture as gold coins are given as wedding gifts, births etc.) the handling of the coins at the mint is horrible. Many of them would end up in a details holder or body bag even. I've never seen a Turkish gold coin grade higher than MS63 or MS64. West Point does a pretty good job!  

Go to 4:03 

 

Drift Boss

 

Why is gold so popular in Turkey?
 

Edited March 19 by sgen1313

[RWB]

Interesting --- use of late 19th century technology (except for heat sealing). If it works, it keeps overhead low and provides jobs.

[Henri Charriere]

On 3/18/2024 at 8:49 PM, sgen1313 said:

Why is gold so popular in Turkey?
 

I didn't think it could be, so I fact-checked it (behind the OP's back) 🤣 and, sure enough, it was! The trajectory of production was roller-coaster erratic, but it is hard to believe any nation could surpass the outputs, individually, of the U.S., China, Russia, India or Australia. This would be an interesting bit of trivia for one of those quiz shows.

[GoldFinger1969]

On 3/18/2024 at 7:47 PM, VKurtB said:

My first wife was Greek. Trust me, she was quite clear that the worst part of Türkiye is/was the Turks. I learned early on not to even bring up the subject with her grandmother. WOW!

Cyprus. 

[GoldFinger1969]

On 3/18/2024 at 11:23 PM, Henri Charriere said:

I didn't think it could be, so I fact-checked it (behind the OP's back) 🤣 and, sure enough, it was! The trajectory of production was roller-coaster erratic, but it is hard to believe any nation could surpass the outputs, individually, of the U.S., China, Russia, India or Australia. This would be an interesting bit of trivia for one of those quiz shows.

Their output is miniscule compared to those countries (and South Africa).

 

Edited March 19 by GoldFinger1969

[Henri Charriere]

On 3/19/2024 at 1:16 AM, GoldFinger1969 said:

Their output is miniscule compared to those countries (and South Africa).

 

According to Google and associates, seismic tremors did occur fairly recently and rapidly which apparently did not register on your technicolor scale. Our instincts tell us No, but an anomaly did occur... I better go check my set registry and see if I am still #1 on the left coast. 🤣

[olympicsos]

On 3/18/2024 at 7:25 PM, Henri Charriere said:

The Turkish Mint?  In Ankara? Who knew?  How come GoldFinger1969 did not include that fact in his fancy colored graphs? I have millions in old Turkish lira (currency) which dissolved/deteriorated/disintegrated/depreciated into nothingness via devaluation -- and now this? Gold bullion? You know, if it weren't for bad luck I wouldn't have any luck at all. Oh, I forgot. It's Turkiye now. Sheesh!

The Turkish mint is in Istanbul.

[olympicsos]

On 3/19/2024 at 1:16 AM, GoldFinger1969 said:

Their output is miniscule compared to those countries (and South Africa).

 

 

Here's an article showing that Turkish mint production outpaces the US Mint 

https://thegoldobserver.substack.com/p/turkish-mint-outpaces-u-s-mint

Also certain gold dealers can deliver bars to the Turkish mint and request gold coins in specific sizes much like how the US operated a long time ago. 

[RWB]

This short article might help....

https://english.elpais.com/international/2023-08-26/goldrush-in-turkey.html

[GoldFinger1969]

On 3/19/2024 at 8:11 AM, olympicsos said:

Here's an article showing that Turkish mint production outpaces the US Mint 

Yes...I was referenceing actual gold production, Olympics.