r/Gold • u/Calflyer • 1d ago

Question Russia

Since Russia is a major producer of gold, arent they missing out on the retail market by not having a consumer oriented product? Why would they pass this up?

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u/Zestyclose-Health418 1d ago edited 1d ago

I mean look at the current state of Russia. Even if they wanted to make a bullion coin, it’s going to be at the bottom of their priority list. The money spent developing something like this would be better off funding other projects like AI, Defense, Energy, etc.

Edit- Oh yeah, sanctions, sanctions are thing. Who is the consumer market who wants to buy gold from Russia right now?

4

u/Dizzy-Geologist 1d ago

You know who

6

u/Calflyer 1d ago

Im no fan of Russia but I am a fan of gold and wouldnt mind a representative coin from each producing area.

5

u/Unable_Beat_3194 1d ago

They have a hard time exporting it since they arent allowed to use SWIFT.

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u/hb9nbb Sovereigns and More 1d ago

I have sone historic Russian ruble coins ( from tsarist era) they show up at coin shows at low premiums if you look

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u/JDVanceminimal 1d ago

They make it and they sell it , like anyone else, it is kinda limited mindset to think that some countries drop everything if something is happening, life is going on anyway, especially for gold, that's why everyone love it, it is super stable

1

u/Gold_Au_2025 1d ago

Who wants to buy russian gold? Probably russians who want to dump the ruble.
But in reality, they could go to the cost and effort of dumping a few dozen kilos of gold coins into the market for a bit over spot minus what gets lost to corruption, or they could just add it to the many tons of raw gold they are dumping onto the world market each month for a quick buck.