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Starting on July 25, the Zimbabwean public will be able to buy and hold gold coins which weigh one troy ounce each. In addition to their use as an alternative store of value, the central bank says the coins can be traded and used as “security for loans and credit facilities.”
Zim Zimbabwe notes have no currency value. PLEASE BE ADVISED it is the opinion of Great Am Coin that Zimbabwe Banknotes will NEVER be money again and consist of collectible former banknotes only. The Great American Coin Company does not provide investment advice nor do we comment on rumors in the market place regarding any item we sell.
The gold coins, which have been named Mosi-Oa-Tunya (the local language equivalent for the Victoria Falls), weigh one troy ounce or approximately 31.10 grams. Each coin has a purity of 22 carats and is assigned a serial number for identification purposes, the statement said.
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.
#silver #gold #preciousmetals.
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