Author Topic: Bank of Lithuania to Open e-Shop for Numismatic Sales  (Read 559 times)

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Offline Bimat

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Bank of Lithuania to Open e-Shop for Numismatic Sales
« on: March 31, 2017, 05:52:51 PM »
Procedure established for sale of collector and commemorative coins via e-shop

March 31, 2017

A new method of selling numismatic items via an e-shop has been included in the Regulations for the Sale of Numismatic Items of the Bank of Lithuania. The e-shop is to be opened on the Bank of Lithuania website in the near future.

The above-named Regulations have been amended by the Board of the Bank of Lithuania, which specified in detail how the mintage of numismatic items would be distributed by each method of sale. It was decided to allocate 50 per cent of total mintage to advance sales in the e-shop. It will be possible to reduce this share before the start of advance sales. According to the order of the Chairman of the Board of the Bank of Lithuania, no more than 30 per cent of the total mintage of numismatic items shall be allocated to trading at fairs, no more than 5 per cent of total mintage to the representation needs of the State of Lithuania, local government, state and municipal authorities, as well as other persons, when the issued numismatic item is representative of their activities; no more than 30 per cent of total mintage shall be allocated to the distributors of numismatic items. In addition, no more than 5 per cent of total mintage shall be allocated to the representation and other needs of the Bank of Lithuania, as well as museums in Lithuania. The remaining share of mintage will be sold at the cash offices of the Bank of Lithuania, except in those cases when the mintage of a numismatic item is up to 2,000 pieces. In cases when the mintage of a numismatic item is up to 2,000 pieces, all of it will be allocated to the e-shop.

Once the e-shop becomes functional, it will be withdrawn from the pre-order system which had functioned to date. Pre-orders will not be accepted in the second quarter of 2017. For logistical reasons, with the aim of timely and precise distribution of numismatic items at points of sale and their transfer to a dispatch service provider as soon as possible, the sale of numismatic items in the e-shop will only start 5 business days before the planned date of issue of a numismatic item.

Source: Bank of Lithuania (Press Release)
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Figleaf

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Re: Bank of Lithuania to Open e-Shop for Numismatic Sales
« Reply #1 on: April 03, 2017, 10:23:42 AM »
I'll be in Vilnius on business in May. If I have time, I could go shopping for WoC members. Send me a PM if you are interested.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Bimat

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Bank of Lithuania to Open e-Shop for Numismatic Sales
« Reply #2 on: April 03, 2017, 10:55:29 AM »
The cheapest Lithuanian collector coin you can possibly buy is a 1.5 coin (which costs 2, see here). Rest of the Lithuanain collector coins are expensive to very expensive (and quickly get sold out too).

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.