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RBZ Releases First Batch Of The 2 000 Mosi-oa-Tunya Gold Coins: 25 July 2022

RBZ Releases First Batch Of The 2 000 Mosi-oa-Tunya Gold Coins: 25 July 2022

The Reserve Bank of Zimbabwe (RBZ) Monday, 25 July 2022 released the first batch of the 2 000 Mosi-oa-Tunya gold coins. In a statement seen by Pindula News, the central bank said it will daily publish gold coin prices based on the previous day’s London Bullion Market Association (LBMA) PM Fix plus 5% to cover the cost of production and distribution of the gold coins. RBZ Chief, John Mangudya said: 

Pursuant to the resolution of the Monetary Policy Committee of 24 July 2022 and the Bank’s Press Statement of 4 July 2022, the Bank has today released the first batch of 2,000 Mosi-oa-Tunga Gold Coins to market.

Local agents commenced selling the gold coins on an agency basis, at the initial price of US$1,823.8 per gold coin or ZWL805,745.35. Gold coins can also be purchased in denominated currencies such as the South African Rand, Botswana Pula, Australian Dollar, British Pound and Euro.

The Bank shall publish from tomorrow 26 July 2022, 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 5% to cover the cost of production and distribution of the gold coins.

The gold coins have the following specifications: –

• Denomination 1 Oz, for the time being; • Material Gold; • Purity 22 karats (91.67%); • Diameter 32 mm; • Weight 33.93g; • Shape Round;

• Edge Type Reeded with serial number engraved;

• Quality Proof; and • Thickness 2.63mm.

The gold coins have the following qualities;

i Liquid Asset Status; ii Prescribed Asset Status; iii Collateral Acceptability; iv Tradable; v Serial numbering; and vi Central Bank buy-back when required by the holder of the gold coin.

The Mosi-oa-Tunya gold coins are being sold with an accompanying bearer certificate with the following security features;

• Relief background features; • Numbering’ • Guilloche Pattern border; • Guilloche Pattern underground; • Hologram Feature • Variable QR Code; and • Security paper with watermark

The following selling arrangements are being applied for different buyers:-

i. Domestic buyers including individuals may buy in local currency or foreign currency;

ii. Domestic corporates including institutional investors will be allowed to buy gold coins in local currency or foreign currency, subject to quantity restrictions where it is deemed necessary;

iii. 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;

iv. Local banking institutions shall not be allowed to buy Mosi-oa-Tunya gold coins for own portfolios up until such a time as the Reserve Bank may grant the permission. Thus, for the time being, banks can only receive the coins from the Reserve Bank for onward selling to their customers on behalf of the Reserve Bank; and

v. Non-resident (international) buyers shall only buy the Mosi-oaTunya gold coins in denominated foreign currencies.

The gold coins are an alternative investment product for those who want to store value. Gold is a safe and secure reserve asset throughout the world.

The Bank would like to remind the investing public that purchases of the gold coins will be done in line with KYC principles. In this regard, the Bank will not allow banks to lend for the purposes of purchasing gold coins as this will put pressure on the ability of banks to settle their transaction at the Reserve Bank.

Furthermore, the Bank will also not allow liquidation of blocked funds for purposes of buying gold coins. Since the Government has already put in place a resolution framework for dealing with blocked funds under the Finance Act, No. 7 of 2021.

The Bank shall be releasing additional gold coins into the market on a demand basis, guided by the agents.

John P. Mangudya Governor 25 July 2022

Pindula News

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27 Comments

......... 2 weeks ago

is this affordable .what of old granny down there.


honde 2 weeks ago

the crowd ngoma ndiyo ndiyo


xyz 2 weeks ago

how long will it take for teacher to purchase 1coin, when he is earning$40 000


Zimdollar 2 weeks ago

Never, remember that this is not meant to benefit the ordinary povho. This is meant for the blue-eyed black gurus with the proper connections to the powerful looting cartel.

manzy 2 weeks ago

yaaa this is Zimbabwe sure let's support them so that the economy can stabilise


Mmmm 2 weeks ago

London 22k gold price $47.36 USD/grm.
(47.36 x 31.1035 = 1473.06 +5% = 1546.71 /coin.


Mudzidzisi 2 weeks ago

Why dont they pay civil servants with these gold coins. Vanongotipa one coin togovana tiri three zvotofamba


@mudzidzisi 2 weeks ago

You will then be stuck with them for 180 days before you can use them.

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Fari 2 weeks ago

1823. 8 USD kkkkkkkk hayas


Nimrod 2 weeks ago

These guys have never done anything successful.lt will backfire soon. regai muone


Observer 2 weeks ago

Seems a bit overpriced.


Ndimba Ndimba 2 weeks ago

Not just a bit overpriced but they are extremely overpriced!!! These coins are for the rich want to store value of their money.The average ordinary Zim doesnot have USD 1800which is idle for storage in a gold coin. For us ordinary Zimbabweans these gold coins Icoming is nonevent its business as usual !i

citizen 2 weeks ago

only learned pipo can understand this;

a single coin weighs 33.93grams of pure gold.

isu vekumakomba tadobata munyati wacho 👍


@citizen 2 weeks ago

22k = 91.6% purity.
Oz Troy = 31.1035 grms

citizen 2 weeks ago

it's almost the same nemari yatotenga nayo kumakomba; there are so many advantages by buying these coins kubank

1 mari yako inenge iri safe nemawandiro ayita maArmed robbers hapasisina chokutya


Killi Killi 2 weeks ago

Haingonzi yawanikwa


Jah🇿🇼Tsvarie-07 2 weeks ago

They said Gold Coins are to store value, if it happens that that value is stored then inflation will halt to the advantage of end user who store in a cupboard and refrigerator 😀

🤔 the rand is nose diving yet they have Silver and Gold coins, they say its global reaccession caused by the war in Ukraine. how about Zimbabwe? how are we safe from such???

IT NEEDS A BIT OF TIME AND UNDERSTANDING...


Jah🇿🇼Tsvarie-07 2 weeks ago

Kana usina value how do you store value 😂
Business people might see it different...


Jah🇿🇼Tsvarie-07 2 weeks ago

🤔


MuPfungwe Chaiye 2 weeks ago

Gara zviya gram rava pamarii hey magweja 🤔🤔🤔🤔🤔🤔 ndikucalculater maths dzacho. Asi handirikwanise kuritenga


Anonymous 2 weeks ago

805745.35÷1823.8=441.7

Ndiko kunonzi ku looter uku because gold richatengwa ne rtgs rate iri 441.7 pa dollar.Then rozotengeswa kuma USD haro kkkk haaa economics dze Zim dzakadhakwa shame


Doug 2 weeks ago

This is just a side show to distract as they think on what to do with the local currency. The coins will not solve the fundamental problems. Even America itself has gold coins! So has South Africa.


Nimrod 2 weeks ago

Something is not adding up. If you have lots of rtgs eg you are a Gvt contractor, you can then buy the gold coins and wait for 6 months to get your money in US$. The tricky part is wheartger or not RBZ will give you US$ when you decide to redeem them. RBZ yakafitira kuti mari yauka Tenga nayo ndoyaunipihea. if it was rtgs, they will probably give you at auction rate. regai tiobe kuti 2000 coins dzinotengwa here? But trust these guys at your risk.
Now here is the juicy part. suppose you burn a thousand US$ at black market. rate, ($ eg 850) lt means you can get $850,000. This is enough to pay for one coin and the 2% electronic transfer fees. After a minimum of 6months,you can get redeem the same coin and probably get about $1500. Gold is very stable and doesn't change very much. uuuu7m, l smell a dead rat somewhere


i 2 weeks ago

@ citizen chekutya uchachiona



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