In Turkey, gold is one of the most important investment and saving tools, in addition to its great importance in Turkish culture, as it is exchanged by Turks at social events.
Gold in Turkey varies between jewelry, coins and bullions, the consumption of gold products is very high with a direct effect on the Turkish economy.
About gold in Turkey
Gold is of great importance in Turkish society and Turkish culture in general, as Turkish people use gold coins for investment and savings, in addition to gifting at social events.
According to some statistics, the Turkish people saved more than 3,500 tons of gold.
In general, there are 4 kinds of gold in Turkey, 24 karat, which is used in the production of gold bars and is traded electronically in banks and is identified with the number 999.9 on the bullion.
22 Karat, which is considered the most common type of gold in circulation in Turkey, where jewelry is produced for decoration, some bullions in addition to gold coins.
18 karat and 14 karat, from which some jewelry and goldsmiths are produced.
Major Gold Mines in Turkey
Mine Name
Location
Kisladag
Usak
Efemcukuru
Izmir
Copler
Erzincan
Turkish Gold Coins
Gold coins in Turkey are made of 22 Karat gold, and are considered an essential part of the Turkish culture, as coins are gifted at social events such as weddings and Circumcision ceremonies.
Gold coins in Turkey are divided into two types, the ornamental coins calledziynet altinand the Republic coinsthat is called Cumhuriyet Altını.
Ornamental coins
The decorative coins contain a picture of Ataturk on one side, and on the other side the phrase “Republic of Turkey” and the date of issuance of the coin.
The coin is embellished with stars and motifs, and is produced with a handle on top for hanging or gifting as medal.
Quarter gold Turkish lira
The Turkish golden quarter is considered the most popular gold coin in Turkey, as the Turkish people use it as a gift in social events intensively.
The quarter of the gold lira in Turkey is called“little gold-küçük altın” as it is the smallest denomination of gold coins.
The gold quarter lira weighs about 1.754 grams to 1.6065 grams, and is produced from 22 Karat with a diameter of 18 mm.
Half Turkish gold lira
The weight of the half of the gold lira is 3.5 grams, and it contains the equivalent of 3.21 grams of pure gold, while the remaining 0.29 grams is made of copper or silver.
The golden half liras are produced from 22 Karat gold, and the coin is 22 mm in diameter.
Golden lira
The 22 karat gold lira weighs about 7 grams, and contains the equivalent of 6.42 grams of pure gold.
IGR is authorized by the Turkish Treasury and sell certified gold Bullion in sizes ranging from ½ gram to 100 grams. California Gold & Silver Exchange understands that Turkish gold is of high standard and quality. The gold jewelry from Turkey ranges from 10 karat to 21 karat.
Turkish gold can be 10-karat, 12-karat, 14-karat, 18-karat or 20-karat. Though, the lower karat Turkish gold is usually produced for the American retail market. The purity stamps found on Turkish gold are normally: 10-karat '417'
Gold is gold is gold wherever in the world you buy it. The main difference here in Turkey is the quality and creativity of the designs plus the excellent workmanship. The price of gold is the same all over the world but gold jewellery here tends to be cheaper than many places due to lower labour costs.
Buying gold in Turkey, especially gold jewelry, is gaining massive popularity right now with the amazing conversion rate against the declining Turkish Lira and the ability for consumers to purchase directly from sellers without a middleman.
Countries such as Switzerland, Australia, and Canada are known for producing high-purity gold, while countries such as China and Russia are the largest producers of gold in the world.
24 carat is pure gold with no other metals. Lower caratages contain less gold; 18 carat gold contains 75 per cent gold and 25 per cent other metals, often copper or silver.
What makes Dahlonega gold so different from other gold found around the world is the purity. Dahlonega has the purest gold in the world, which is 98.7 percent pure.
Yellow gold has always been the most popular metal colours for gold jewellery in Turkey and whilst many international jewellers shy away from making jewellery from high gold karats, the richer colours of 22k jewellery remains very popular.
Grand Bazaar is the heart of the gold and foreign exchange in Turkey. Especially the jewellery shops take the most interest and without a doubt, it is the best place for shopping gold and jewellery in Istanbul.
Women's Turkish Jewelry will often feature stones such as emerald, sapphire, and ruby while men's turkish jewelry will often feature stones such as agate, tiger's eye, and turquoise. Both men and women's Turkish jewelry is classically popular, due to the legacy of the Ottoman Sultans.
The current gold price of 14k 1Gram in Turkey is TRY 988.93 (Turkish lira). This is based on the current spot market value of gold and the specific purity level of 14k.
- Larger amount of foreign or Turkish currency must be transferred abroad through banks. - All personal belongings and articles made of precious stones or metals (with no commercial purposes) worth under $15,000 may be brought into and taken out of the country.
On March 3, changes were also made in the amount of gold that authorities allowed to be brought into the country, increasing the upper limit to five kilograms.
Across Turkey, there are nineteen gold mines currently at work, and thousands of new gold exploration projects are in the pipeline. Turkey is the world's nineteenth-largest producer of gold. By official estimates based on geological modeling predictions, Turkey could contain as much as 6,500 tons of gold.
Turkish jewelry has a long and rich history, and Turkey is known for its intricate and high-quality jewelry designs. Turkish jewelers have a reputation for their skilled craftsmanship and attention to detail, which results in exquisite and unique pieces of jewelry.
Turkish products are often known for their high quality and durability. From textiles to ceramics, food to home appliances, Turkish manufacturers take pride in producing products that meet international quality standards.
Turkish Jewellery History. Born in the depths of Anatolia, Turkish jewellery has a long history, evolving to the sophisticated and revered art form that it is today. Neolithic Turkish jewellery was first discovered within the south-east region of Turkey, which geographically was a fertile landscape.
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