A gold coin is a coin that is made mostly or entirely of gold. Most gold coins minted since 1800 are 90–92% gold (22‑karat), while most of today’s gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo.
The central bank said residents and international buyers will be allowed to export Mosi-oa-Tunya gold coins.
- Exporting entities shall buy Mosi-oa-Tunya gold coins from their retained export portions in foreign currency. Notwithstanding this requirement, exporters whose annual export receipts in 2021 were less than US$1 million shall require a specific exchange control approval
- The bank or its agents will buy back the gold coins after a vesting period of 180 days in line with the need to promote a savings culture in the country
- The bank shall publish the Mosi-oa-Tunya gold coin price by 0800 hours daily, which shall be based on the previous day’s London Bullion Market Association (LBMA) PM Fix plus the cost of producing the coin
Zimbabwe’s central bank today will introduce gold coins aimed at battling a resurgence in inflation and easing the public’s thirst for US dollars.
According to the Reserve Bank of Zimbabwe (RBZ), the gold coins shall have the qualities such as liquid asset status, prescribed asset status, collateral acceptability, tradable, serial numbering, and central bank buy-back when required by the holder of the gold coin.
According to the guidelines released by the central bank on Monday last week, the apex bank said residents and international buyers should be allowed to take out (export) the gold coins supported by the bearer certificate for each coin.
“Exporting entities shall buy Mosi-oa-Tunya gold coins in foreign currency from their retained export portions. Notwithstanding this requirement, exporters whose annual export receipts in 2021 were less than US$1 million shall require a specific exchange control approval to be permitted to utilise a portion of their surrender portion that is payable in local currency to purchase the gold coins,” they said.
The Reserve Bank of Zimbabwe will appoint agents that include authorized dealers, its subsidiaries, and foreign banks that will be responsible for selling the Mosi-oa-Tunya gold coins on its behalf.
Can I buy Zimbabwe gold coins?
Each coin has a serial number and can be bought with local currency, the U.S. dollar, and other foreign currencies. The price is set based on the international price of gold and production costs. Coins can be converted into cash or traded.
How much is Zimbabwe’s gold coin?
Zimbabwe’s Gold Coins Sell For More Than $2,000 Each
The central bank introduced the gold coins to halt the collapse of the Zimbabwean dollar and to help ease demand for US dollars.
How to buy gold in Zimbabwe?
GOLD BUYING AND SELLING AS A BUSINESS: HOW TO GET A GOLD BUYING LICENSE
- YOU CAN GET A GOLD-BUYING LICENSE AT ZERO COST.
- FIDELITY PRINTERS AND REFINERS IS THE SOLE GOLD BUYER IN ZIMBABWE AND IT’S THE ONE RESPONSIBLE FOR ISSUING GOLD BUYING LICENCES.
- GOLD IS PRICED WITH PURITY OR SPECIFIC GRAVITY.
How many dollars is $1 in Zimbabwe?
1 USD = 322 ZWL Feb 15, 2023 23:45 UTC
Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently. This is very much needed given the extreme volatility in global currencies lately. Sending money abroad is as easy as ever.
How much are 500 million Zimbabwe dollars worth?
The $500 million note is worth about 8 U.S. dollars and enough to buy just eight loaves of bread.