TravelFeedTravelFeed Logo
Golden Turkey or where to buy gold products for tourists in Istanbul

Golden Turkey or where to buy gold products for tourists in Istanbul

May 2018 · 7 min read · Istanbul

 Hi friends!   

Many people come to Turkey and buy gold products. Today we will consider where it is better to buy gold in Istanbul. Let's study the gold industry in Turkey a little. Since ancient times, gold has attracted everyone with its special qualities. Noble metal has conquered many areas of life:

  • investment,
  •     jewelry industry,
  •     medicine,
  •     cosmetology,
  •     icon painting,
  •     architecture, sculpture,
  •     gold and others.

Foto

Pure gold is a mineral and an element. Of all the chemical elements, gold received the status of"the most beautiful chemical element". Who would argue with that? Today we will consider how things are in Turkey with a noble metal.

In Turkey, there are 9 hot spots (in the photo marked with a red star), where there is an active gold mining. The Turks can joke, too. One of the gold mines was called "Garbage Cans" (Çöpler). An interesting name for the mine, you see.

The largest gold mines in Turkey:


  •     Kışladağ (canadian company Eldorado Gold)
  •     Çöpler (Canadian alacer Gold Corporation)
  •     Ovacık (Turkish company Koza Gold)
  •     Efemçukuru (canadian company Eldorado Gold)
  •     Kaymaz (Turkish company Koza Gold)

Foto

Until 2000, the country practically did not produce precious metal. As soon as the laws in the mining industry changed, dynamic exploration and production began. There are more than 70 projects in this direction. The controlling authority in the country is the Ministry of energy and natural resources. Only Turkish companies can buy land where there are supposedly reserves of gold. Foreign companies lease the land only.

Countries that produce gold in Turkey:

  •     USA,
  •     Canada,
  •     Germany,
  •     Britain,
  •     Australia.

In Europe, Turkey ranks first in gold mining. According to the reserves of gold Turks in 4th place in the world (data World Gold Council). They are ahead of China, Russia and India. But even in this situation, Turkey imports a lot of gold every year. Approximately in 2017, the country imported 370 tons of precious metal. This is a record figure. Earlier in 2013 there was a maximum purchase of gold - 302 tons.

Foto

  • The Turkish people also prefer to keep their savings in the precious metal. Last year, Turkish banks collected about 75 tons of gold from residents, in 2016 - 60 tons. But people are not in a hurry to carry their gold savings to the Bank.
  •     Interesting traditions of Turkish wedding. The bride and groom are hung with gold and money. All gold donated to the wedding-a dowry and protection of the bride from unforeseen circumstances.
  •     If a child is born in a family, all relatives and friends come with gold. The baby's crib turns into a" Golden " cradle.
  •     According to some statistics, the residents of Turkey in the form of coins and jewelry in households stored about 5,000 tons of gold! I don't know how they accumulated that much precious metal. The figure is interesting because the official website of the Ministry of energy and natural resources provides data on the potential reserve of gold in the bowels of Turkey, which is 6000-7000 tons. Why extract something? Ask the population... I'm joking.

Foto

Where is it safe for tourists to buy gold in Istanbul?

In Turkey, the safest purchase is the gold Turkish coins of the Republic (22 carats/916 samples). By the way, they are not taxed. Coins are stamped only By the main Turkish Mint in Istanbul. No one else in the country has the right to do them. For forgery can go to jail, and plus pay a big fine. Therefore, artisans are quite unprofitable this option. After all, there are many other products that they can forge. You can see how the coins look on the official website of the Turkish mint. It is worth noting that there is an online store from the mint, where there are ready-made Souvenirs, commemorative coins that can be ordered directly to the hotel.

The second safe option of buying gold in Turkey is branded jewelry stores:

  •     Altınbaş (Altin-bash, founded in the 1950s).
  •     Jival (Founded in 2006).
  •     Storks (founded in 1997, the representative of Rolex in Turkey).
  •     Favori (Founded in 1992).
  •     Koçak Gold (kochak gold, founded in 1958).
  •     ZenDiamond (Sundiamond, founded in 1890).
  •     Atasay (Atasay, founded in 1937).
  •     and other.

Why is it safe to buy jewelry?

  •     These are well-known licensed companies.
  •     The price range is different.
  •     Qualified service.
  •     When you purchase get a certificate of quality.
  •     When you purchase you get a service guarantee.


If you are going to buy gold products in Turkey, I advise you to look through the range of brand companies and ask the price. Maybe even choose a model. In Turkey will only come and buy. Company websites are, there are addresses of all stores.

Foto  The Grand Bazaar

Address: Turkey/Istanbul, Fatih/Fatih, Beyazıt / Beyazit Mh., Kalpakçılar/Kalpakjian Cad., Sorguçlu / COP Han, No:22. Works from 9-00 to 19-00 all days except Sundays and holidays.

Everyone has heard about the Turkish Grand Bazaar. In Istanbul, you can buy gold here, if you know some points. You need to understand that most of the Bazaar is aimed at tourists. Prices are 3-5 times too high. The Grand Bazaar is also rich in handmade gold. Local artisans copy the world's jewelry brands beautifully. Such products will not be cheap.

Ready to Blog & Earn?

With TravelFeed, easily start your own travel blog and earn as you go. It's the smart platform for travelers who want to profit from their passion. Create a free account

  •     With sellers need to bargain!
  •     Learn a few words in Turkish.
  •     See where the locals buy something.
  •     Do not show your wealth, behave modestly, so as not to provoke pickpockets.
  •     Be sure to ask for a check if you were not given one.
  •     Take a picture with the seller:)

Much is said about the fakes of Turkish gold. I can't say the Turks are cheating. Rather, they can cheat, as you do not quite understand the gold. Plus not knowing the language. You should understand that a gold chain weighing 50 grams can not cost $ 100. Usually greed of the buyer leads to rash purchases. Then everyone starts complaining that they sold the wrong quality of goods for $ 100. Of course, the Grand Bazaar is rich in 9-12 carat gold. So first find out how much is a gram of gold of different categories, if you want to buy it here.

What will happen to the seller for a fake product?

If a person has checked his purchased product, for example, in another store. The gold was not the right sample. You can complain to the appropriate authorities on the seller or store (the presence of the check and the product is required). If the guilt is proven, the person loses the license to sell gold products, and will never be able to get it. Therefore, the Turks to deceive people-it's a big risk to lose a good income.

Foto

It is interesting to note that every year the waste goes to the landfill, in which there is a small amount of gold and other substances. Figures and analysis of some organizations are given in the report Global e-waste Monitor 2017. Monitoring showed that in 2016, 45 million tons of electrical equipment contains about 500 tons of gold.

Don't Forget: Get Travel Health Insurance!

To make your trip a worry-free experience, TravelFeed recommends SafetyWing Nomad Insurance. It provides comprehensive health coverage while you travel, so you can focus on exploring, not the unexpected. Get a quote here

The good news is that people have not yet reached the core of The earth, where, as some scientists say, is 99% of the planet's gold. Everything may be, but to check this fact to mankind is not under force.

 @rosy440


      


Travel Resources for your trip to Turkey

Recommended by TravelFeed

Flights: We recommend checking Kiwi.com to find the best and cheapest flights to Turkey.

Accomodation: Explore the best places to stay in Turkey on Booking.com, Agoda and Hostelworld.

Travel Insurance: Medical emergencies abroad can be pricey, but travel health insurance is not. We always use SafetyWing for affordable and reliable coverage.

Transportation: Use 12go and Omio to find detailed bus and train schedules, making travel planning easier.

Car Rental: For hassle-free car hiring, DiscoverCars is our trusted choice with a wide selection of vehicles.

Internet: Got an eSIM compatible phone? Airalo is perfect for reliable internet access during your trip. Just install it before you go, and you're set!

Day Trips & Tours: We recommend GetYourGuide for a variety of well-organized and enjoyable activities.

Tickets: Save on entrance fees in Turkey with Klook and Tiquets.

Travel Planner: Need a hand planning? Our free travel planner chatbot is your personal guide to Turkey. Chat now.

Disclosure: Posts on TravelFeed may contain affiliate links. See affiliate disclosure.


Share this post