Tamil Nadu government on 400 kg gold hunt

He said the margin will be very thin and the bidders are expected to quote very competitive rates.



"The price of gold and the exchange rate is well known. There is not major technology involved in making the coins except making the dye to imprint the government emblem. The challenge will be the availability of the yellow metal," Challani reiterated.

He said the possible rate for a four gram coin will be around Rs.13,000 and the outgo for the government for 100,000 coins will be around Rs.130 crore.

According to the tender document Madurai, Kanyakumari, Vellore and Tiruchirapalli districts will get 5,000 coins each followed by Coimbatore, Cuddalore, Kanchipuram, Salem with 4,500 coins each.