Want a costly gold coin, then visit a post office!

MANGALORE: A consumer has felt almost cheated after purchasing a gold coin from the most ?reliable? Indian post office. A customer has alleged that the 24 carat 8 gm gold coin which he purchased from the post office, at 6 per cent discount, was found costly. when a similar coin was purchased elsewhere. Melwyl Pinto of Janadhwani had purchased an 8 gm gold coin from the post office at Balmatta in Mangalore. He paid Rs 19,071 for the same after a six per cent discount (Rs1232).

Later, he enquired about the price of a gold coin of the same quality and quantity at Muthut Finance, where it was Rs 18,849 after discount, which only meant that the post

office had collected Rs 852 extra from the customer. At the same time, the gold price in the market was much less and was Rs 21,785 for 10 gms which accounted to Rs 17428 for eight grams. This was Rs 2273 less than the price of the gold coin at the post office. The value of the same gold coin at a private jewellery shop was Rs 17,888.? When the people have faith in the postal department, the office is cheating the people,? he says. The discount provided is just a business gimmick, he adds. The bill issued at the post office had another surprise for Pinto; it was in the name of Reliance Money while it was mentioned as India Post at some corner. This has madepeople question if the postal department was selling gold coins only to help some private company.

// the canara times, mangalore news paper, may10th 2011//