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Gold Coins Will Be Purchased Using Both Forex And Zimdollar - Mangudya

Gold Coins Will Be Purchased Using Both Forex And Zimdollar - Mangudya

The Reserve Bank of Zimbabwe (RBZ) says gold coins that were announced last week will be bought using both foreign and local currency (Zimbabwe dollar).

RBZ Governor John Mangudya said the gold coins will be introduced into the market mid-this month.

Speaking in an interview with The Sunday News, Mangudya said the coins will be exchangeable locally and outside the country.

Mangudya said authorities have already engaged international financial partners on the soon-to-be-introduced coins. He said:

Basically, the gold coins will be an instrument for storing value and they will be purchasable in both foreign and local currency.

Once minted they will be distributed by Fidelity Printers and Refiners, local banks and international banking partners that we will announce in due course.

These gold coins will be used both locally and internationally because we have engaged with international banking partners.

What I must emphasise is that gold is gold and it has an international value.

Mangudya said those who will purchase the coins will also get bearer certificates. He said:

Since these coins are essentially meant to store value they can be used for the purpose of trading and also can be used as collateral. The purchaser can also convert them to cash if need be.

Our starting point for purchases will be one ounce of gold which will be representing approximately 22 carats.

Mangudya urged members of the public to disregard circulating images purporting to be the gold coins on social media platforms saying they are fake. He said:

As we have said, these coins will be minted at Fidelity Printers, who will be in charge of the distribution together with the banks and international banking partners.

The images that have been circulating are fake and the public should stand guided.

For now, Fidelity has been given the green light to start minting the coins so we expect that the coins will be available in the market by mid-July.

More: The Sunday News

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43 Comments

Zuze 1 month ago

Maiweeeeee zvangu!!!
MaBearer aye adzoka ­čÖć­čĆ┐ÔÇŹÔÖé´ŞĆ­čÖć­čĆ┐ÔÇŹÔÖé´ŞĆ­čÖć­čĆ┐ÔÇŹÔÖé´ŞĆ­čÖć­čĆ┐ÔÇŹÔÖé´ŞĆ


Chimboti Pizza 1 month ago

@youth, goridhe munonyatsoriziva here kana kuti munongoita zvekuudzwa nevamwe kuti ririko­čśé

youth 1 month ago

did I hear correctly,"1 ounce of gold will be representing 22 carats of gold" ,this is fake gold

kkkkkkk 1 month ago

so we will be buying money using money


Chura 1 month ago

kkkkkkkk kuseka nhamo se rugare. We r cursed

Mhazi Chirumanzu 1 month ago

Kupererwa ndiko zvakunoita

Asi mari chaiyo maishaya here nhy RBZ


Gugulethu Mazvizvi 1 month ago

I would advise Zimbabweans to keep their hard earned us dollars, not to fall into this trap by thiz criminals. If their concern is really that they want to help us store the value of our money, they should just tell us to keep US dollars and pounds. Mheno Zvenyu mukabhaizwa, that's a trick to mop up all the us dollars which is believed to be hold or kept by Zimbabweans.


Chimboti Pizza 1 month ago

@chimbwaa pizza haana njere, taura zvinhu zvine proof. Inini ndadefender point yangu, iwewe chidefender point yako tione­čśĽ

VYBZ KARTEL 1 month ago

@Gugu, you have a point.

Chimboti Pizza 1 month ago

@Gugulethu kana Economics usingadzinzwisise unongonyarara. Governmnt haisikuda kuti vanhu vatenge maUS pablack market coz zvinowedzera inflation ndosaka vati tengai magold coins instead

Machiavelli 1 month ago

Am I the only one who has realised that since the official dollarisation all the pro-RTGS commentators, @Tkt,, and company have since gone into hibernation.

Or maybe they have hidden under new pseudonyms? Why do I ask? Because I sincerely feel that after my initial euphoria over the Gold Coin, I now think this Gold Coin fad is a half-baked and fast fading to boot. I bet my bottom dollar that @Tkt @VYBZ Ketero & Co. would be the first to tear me to pieces


Chimboti Pizza 1 month ago

@Sekuru waBona, USD ragara ranga richishanda alongside the Zimbabwean dollar and government yakataura zvinhu zvanga zvagara zvichingozivikanwa. But they also said USD richamira kushandiswa muna2025 proving that de-dollarisation is in process

sekuru waBona 1 month ago

@chimboti pizza at times it's best to post after paying due diligence

people were arguing here that there won't be dollarisation and what happened last week? the US dollar was legalised albeit overdue as the economy had already dollarised

the gold coins we shall see as the people doesn't trust the monetary authorities anymore considering the past pains

ukutadza kunzwisisa simple facts dzaMachiavelli the Don

Chimboti Pizza 1 month ago

@Michiavelli, dollarisation yaukutaura ndeipi. Gold coins are going to lessen people's dependence on the US dollar as a means of storing value. This is a huge step towards total de-dollarisation

Maparamuro 1 month ago

Ignorance l


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Jah­čç┐­čç╝Tsvarie-07 1┬ámonth ago

Kwazulu Natal
the only province with a surname
Di pope sal dance ­čśé


jah 1 month ago

dzungu rekugara SA richinewe mfana hapana choshamisira pakutaura Afrikaans or Zulu or sepedi tese takabveko

R├ę├ís├Á├▒├íbl├ę D├Á├║bt 1┬ámonth ago

Ok okay we get it RBZ
just as the Bond notes are backed by the Afrimex Bank and so are the Gold coins


Doug 1 month ago

Bearer's Certificate for your gold coins, says the RBZ boss! Looks like these coins will be used to store the value for the whole world as they will be sold all over the world, competing with the US dollar.


Milton Mbasera 1 month ago

@ chimboti pizza, which economics dzaukuda kutiudza panapa? History tells it all my friend, we know who are are dealing with. Anyway, let the coins come ugonomamumba iwe ugozopfuma. Futi I doubt if you can afford the gold coins kuti hautorina kana zuda zvaro iwe to buy those coins.

Chimboti Pizza 1 month ago

@Doug 2, gold is gold my friend. Gold remuZimbabwe nerekuEurope rakangofanana saka zvaukutaura izvi hameno kuti ukuzviwanepi

Doug 2 1 month ago

my guy these coins won't be accepted anyway

musanyeperwi imi

foo 1 month ago

uyu anozvit chimboti pizza... ndiye ka wekunyobvoka panyaya yaLivingstone akazokumbira ruregerero. zviriko


Chawabvunza 1 month ago

My biggest asset is admitting ignorance where I do not know so that those who know may teach me. Gold coins have come to me just as Bearer's Cheque, Bond Notes and RTGS currency came to me in the past. The exception is that gold coins are minted with gold carats. Let the RBZ Governor bring the gold coins.

THE TASTE OF PUDDING IS IN THE EATING.

NGAAPINDE HAKE CHAMISA [NHC].

[VOTE CCC FOR REAL CHANGE].


Chinese zodiac 1 month ago

Kkkkkkk munhu akungotaura zvaanoziva according nelevel yeschuru yaakagumira ipapa ndopatikutoona kuti @machiavelli akasvikawo bk 2 @chimboti pizza grade 7 nevamwewo ndovakazvisiya zuva rekutanga pabreak


think 1 month ago

yah munhu unongooneka zvauri nezvaunonyora. the likes of chimboti pizza.


real warrior 1 month ago

the good, the bad and the ugly.

muchavaziva nezvanocommenta


Korokoza 1 month ago

Tongonyunguditsa totengsa gold racho hahahaha


Machiavelli 1 month ago

@citizen, please read paragraph 8. For the avoidance of doubt it says "Mangundya said those who will purchase the coins WILL ALSO get beater certificates", meaning the purchaser will get both a gold coin AND bearer certificate. So please let's not mislead people.

citizen 1 month ago

you wil be given a certificate not the actual gold

Sage 1 month ago

All that glitters is not gold.


Hallmark 1 month ago

I would rather keep my investment in USD under the pillow, anything to do with Zim banks a BIG NO


e.g john chibadura 1 month ago

Yah true

BEARER CHEQUE 1 month ago

Bearer Certificate


fun time 1 month ago

Behold, the most powerful currency in the world. Zim Gold, well done guys @economic advisory. The British pound and the US dollars will flood our banks as they exchange for real Gold. I hope the real gold value will be used consistently.


Da Truth 1 month ago

****s think they are gonna romarou do the street with coins of glittering gold .kkkkkkkkkkkk .You will go around with a paper the gold will be in the bank .kkkkkkkkkkk I personally will keep my stash of green bucks ­čśü­čśë­čśé

Adam 1 month ago

totenda dzamwa dzaswera na..... dilema after dilema in economics dzemuZimbabwe. USD rinongoshanda roga without zvese izvi First bond note rakapinda sechange ikozvino Gold coin. spare us the crap Governor


jamutingo 1 month ago

gold chii?kkkk this won't work.not in a thousand years


Truth 1 month ago

Gold redu riri ku Fidelity rabiwa hakuchina chinhu mazanu aya atanga


mdara loli pop 1 month ago

Uhmm I just dont trust John Mangudya and crew. Pane chitsotsi chiripo bedzi pama gold coins ipapa. Thats why vasingade varungu mukati mazvo bcoz they know kuti muvheti haumujute


Rich guy 1 month ago

Bravo



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