Mugur Isarescu: I would sell the „roosters” from BNR’s gold reserve

Governor of the National Bank of Romania (BNR) Mugur Isarescu on Thursday said that it would be a good measure to sell the gold „roosters” from the reserve of the BNR to the population.

The „roosters” represent replications of the French 20 franc ‘roosters’, which feature the dynamic image of the Gallic Rooster, or Coq Gaulois. „My proposal was to sell the „roosters,” in the context in which our reserve will remain the same anyway. ľm thinking about selling the coins to the population, following that with the money obtained to buy gold in the form of ingots, so that the BNR reserve not to decrease. We want thus to demystify the possession of gold,” said Isarescu. „I would do that. I would assume responsibility for it,” said the governor.

He also specified that the total amount of gold confiscated during the communist regime that has been returned to the citizens represented the equivalent of 3.2 tonnes of gold, out of which 2.2 tonnes were returned in money because the pieces that had been confiscated were no longer found.
The „roosters” are gold coins minted in Romania at the end of the 19th century and the first half of the 20th century, and prohibited in 1946. There are currently 14.7 tonnes of gold coins in the central bank’s vaults, which are part of the total gold reserve of BNR of 104 tonnes.

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