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Recently, many holders of one-character gold bars (series with a single letter before the number string, produced before 1996) and slightly deformed two-character gold bars have been concerned due to the temporary suspension of purchases by Saigon Jewelry Company Limited (SJC).
In an interview with the media, Ms. Le Thuy Hang, General Director of Saigon Jewelry Company Limited (SJC), explained the company’s decision to halt the purchase of slightly deformed two-character gold bars and the one-character series. She attributed the temporary suspension to objective reasons and assured that the company has now arranged the necessary resources for reprocessing and will resume purchasing deformed SJC gold bars.
According to the SJC General Director, SJC gold bars are manufactured according to the ISO 9001/2015 standard. The company takes responsibility for the quality of its products and has earned the trust of customers for nearly 36 years. For the gold bars with one character produced before 1996, the company allowed customers to exchange them for two-character gold bars without any additional cost. Currently, the company continues to buy back one-character SJC gold bars at the same price as the two-character ones. Subsequently, the one-character gold bars will be reprocessed into two-character SJC gold bars for resale.
Deformed and bent gold bars, whether with one or two characters, that do not meet the standards for circulation need to be reprocessed. This requires the company to allocate resources and obtain permission from the State Bank of Vietnam.
Ms. Hang emphasized that the quality and weight of one-character SJC gold bars are identical to those of two-character bars. However, as they were produced before 1996, consumers tend to prefer the two-character variety, which was introduced later. Currently, SJC only purchases one-character gold bars for reprocessing into the two-character version.
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