Gold coin marking Taiwan presidential inauguration hits record high price

Over 3,000 out of 10,000 gold coins available this year have been ordered

Commemorative gold coin for 2020 presidential inauguration 

Commemorative gold coin for 2020 presidential inauguration  (CNA photo)

TAIPEI (Taiwan News) — More than 3,000 pre-orders have been placed for the commemorative gold coin set released in celebration of the upcoming inauguration of incumbent President Tsai Ing-wen (蔡英文) and Vice President-elect William Lai (賴清德).

Released by the Central Bank, a total of 10,000 gold coins and 50,000 silver coins have been made available to mark the occasion. Tsai and Lai will be sworn in on May 20.

With gold prices soaring, the gold coin is priced at a record-high NT$56,000 (US$1,873) and the silver coin at NT$1,600 (US$53.5), each weighing 31.1 g. Spot gold hovered around $1,700 per ounce over the past week.

3,265 gold coins and 4,204 silver coins have been ordered via an online sale that ended Tuesday (May 12) noon, reported CNA. The remainder of the mintages will be available over the counter at selected Bank of Taiwan branches starting May 20.

The Central Bank began issuing commemorative gold and silver proof coins in 1996, the first time Taiwan held a direct presidential election. The gold coin released in 2016 to mark Tsai’s election was priced at NT$48,000 (US$1,606).

Designs of the gold and silver commemorative coins (Bank of Taiwan image)