In recent weeks, many customers who wanted to sell SJC gold bars with one letter or dented gold bars at Saigon Jewelry Company (SJC) were refused to buy them without a clear explanation of the reason, making customers worried.

On the morning of August 1, posing as a customer, a reporter from Nguoi Lao Dong Newspaper contacted SJC company to ask about selling dented SJC gold bars and was informed by the staff that the company had temporarily stopped buying this type of gold.

"It's not that the company doesn't want to take back the gold that customers sell, but the company doesn't have any information about when the State Bank will open a workshop to re-stamp these types of gold," this employee explained.

According to research, previously, with 1-letter gold bars, as well as dented gold bars when SJC company bought them back on the market with a volume of about 1,000 taels, they would ask the State Bank to reprocess them.

"Currently, the amount of dented gold and 1-letter gold bars in stock is about 1,000 taels but has not been reprocessed, so the company is waiting for a license. Immediately after processing is completed, the company will continue to purchase this type of gold" - an employee of SJC company added.

SJC one-letter gold bars are gold bars with a serial number consisting of one letter before the number, produced many years ago.

Decree 24/2012/ND-CP on gold market management clearly stipulates that "the state has a monopoly on the production of gold bars, the export of raw gold, and the import of raw gold to produce gold bars".

Therefore, since Decree 24, the state through the State Bank has the monopoly on production, import and export of raw gold... no organization or individual is allowed to produce gold bars, including SJC company.

Every year, SJC company will buy dented gold bars on the market and apply for a license to reprocess and sell them back to the market from the State Bank.

Nguoi Lao Dong Newspaper has contacted the State Bank about the above information and is waiting for a response.