Pindula
Register Login

Reserve Bank Of Zimbabwe (RBZ) Announces Gold Coins Features, Characteristics, Ownership

Reserve Bank Of Zimbabwe (RBZ) Announces Gold Coins Features, Characteristics, Ownership

The Reserve Bank of Zimbabwe (RBZ) has announced the features and characteristics of gold coins which are to be introduced soon. In a statement seen by Pindula News, the apex bank’s Governor, Dr John Mangudya said upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate. Reads the statement:

INTRODUCTION OF GOLD COINS

Pursuant to the resolution of the Monetary Policy Committee of 24 June 2022 to introduce gold coins into the market as a store of value, the Reserve Bank of Zimbabwe (“the Bank”) wishes to advise the public of the salient features and characteristics of the gold coin.

The gold coin shall be called the Mosi-Oa-Tunya Gold Coin with the following characteristics:

(i) Weight — one troy ounce.

(ii) Purity — 22 carats.

(iii) Identification — Each coin will have a serial number.

(iv) Ownership – Upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate. The buyer or holder of the coin may opt to place it in the custody of bankers of own choice in which case a safe custody certificate/receipt will also be issued.

(v) Liquidity and Tradability – The coin will have liquid asset status, that is, it will be capable of being easily converted to cash, and will be tradable locally and internationally. The coin may also be used for transactional purposes.

(vi) Prescribed Asset Status – The coin will have prescribed asset status and institutional investors can use it to meet regulatory requirements for prescribed asset investments.

(vii) Collateral — The coin can be used as security for loans and credit facilities.

(viii) Buy Back Arrangement — At the instance of the holder, the Bank will buy back the coin.

The gold coins will be available for sale to the public from 25 July 2022 in both local currency (ZW$) and United States Dollars (US$) (and other foreign currencies) at a price based on the prevailing international price of gold and the cost of production. The coins will be sold through the Bank and its subsidiaries, Fidelity Gold Refinery (Private) Limited and Aurex (Private) Limited, local banks and selected international banking partners. Entities selling the coins shall be required to apply Know Your Customer (KYC) principles.

John P Manudya Governor 4 July 2022

More: Pindula News is best enjoyed via the App. Download it here

Share Article

Sponsored

45 Comments

Dr Herdman 1 month ago

One fresh idea tht this administration has come up with. all along they have been copying Mugabe s failed policies. Hope this idea will be a success. The New dispensation should stop trying to impose failed Mugabe policies and come up with fresh ideas like this one


Lord Korra 1 month ago

Right, now we talkings


factos 1 month ago

give me this gold, i will convert it into a luxury jewelry and sale it twice the amount i bought it.

this thing will fail

It is called Gold bereas cheque


💯 1 month ago

what's the point behind that seriel number 🤔


Anonymous 1 month ago

Bearer Owner Certificate ndorauchange uinaro, usina gold kana USD, zvese zvinenge zviri kubank. Bond have failed pakuuya mukoma bearer vombochovhawo kusvika kuma election inflation yombodzika yozokwira hayo Zanu yahwinha


Xxx 1 month ago

Read again

Dickson Tauro 1 month ago

Haa isu hatidzore tsvimbo pa kuchengeta ma USD pasi pepiro kusvika Chamisa apinda. We can't trust your government anymore.


Xxx 1 month ago

You're getting gold for Christs sake. Nothing can devalue it., Not our government that's for sure my besides broke people can't afford them

Sponsored

povho yaramba 1 month ago

value of the coin Aina basa gold ragara rodiwa ASI azvina zvazvochinja coz nyaya yave yemabearer cheque futy

kuniendwa apana kwatakabva ndokwatiri kuenda ezvino tave panguva yagono iye bearer cheque ravo iro parosvika pa quintillion totanga futy nguva ya muthuli na mangudya toisa bond 0a 1:USA totonzie ndoresigner zvikaramba rosvika ku1usa:700 bond futy totanga zvamuthuli futy

todzokera paye akuna kwoendwA


povho yaramba 1 month ago

USA rikazara mubank vanopanduka paye vakalooter ma USA ese vachiti zvainzana nebond ravo
no need to read again

just read for yourself

Xx 1 month ago

Read again

For ignorant fools 1 month ago

(iv) Ownership – Upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate


muka murakashi 1 month ago

apana APA iwe bond raive backed ne Afrimex bank nemabank NEMA USA sekutaura kwavo paye ezvino rave 750 kuwa kudero

apana chotadzisa coin kuwa kudero zve gold I statement yavo yakafanana ne ye USA yekutanga kuti vakutorerei USA ramakachengeta

muchamuka
but kupamhiwa same thing aah ndiwe unenge Uri wrong gara waramba kubatirwa chengeta. USA rako wosiya zvi coin zvaana tsitsi izvo

ngavape vashandi Mari inokwana vanotenga sei zvimacoin zvavo

Jack Bauer 1 month ago

What if we're trading between the two of us pasina kana bank riri involved?? Munhu uyu anondipa certificate raakapihwa ku bank here pasina mamwe ma formalities or tinenge takufanhira kudzokera kubank kuti tichinje ownership yema certicates aye

We are not ignorant 1 month ago

We have read and understood the article Mr XXX. That passage ye ownership tatoiona tikanzwisisa zvairi kureva so as the whole passage. What we are saying ndezvekuti zvakataurwa navamangudya nava mthuli takushandisa intelligents dzeduwo tichikuonesayi zvichazoitika kuti muchange musina physical possession of the coin but muchange muine ma certificates kkkkk.
Idea is of moping up the USD. Right muchangwara. Ko wani bond note rainzi it will not loose value bcz rir backed up ne mari chaiyo... ipapa zvi certificate izvozvo zvichangonzi they will not loose value bcz zviri backed up ne gold chairo

SC 1 month ago

Buy with ZWL then bank the gold oversees


Kopo 1 month ago

That's the point by it @ "interbank rate" then sale it in us$

leetman 1 month ago

What's the next procedure I can take if I lose a receipt?


Putin 🇷🇺 OG 🐊 1 month ago

✓Few days ago I wrote about a certain runner who has been given EXCLUSIVE middleman rights of selling gold to Fidelity Printers and Refiners.
We all know the boy is a runner..... And he is running for we all know who.

✓The Minister of Finance Mthuli Ncube announced earlier today that, RBZ will be issuing gold coins as a store of value. Ordinary citizens will be buying Gold coins to store value..... Gold coins will be bought using USD.

✓The production of gold coins will increase demand for gold as Fidelity Printers and Refiners will be in need of gold for export and for gold coins production.

✓Ultimately the person who is buying gold on behalf of Fidelity Printers and Refiners will make a lot of money as demand for gold will skyrocket.
✓He will be selling his gold at a premium.

✓Dont rush to dispose your USD and buy gold coins. I don't trust matsotsi aya. USD is a better way of storing value in your money.

✓ If we have so much gold why don't we use it to back our currency?

✓ Open your eyes Zimbabwe. One family with their runner Scott are going to be very rich.

✓Zimbabweans we are making one family rich and very rich.
✓This gold 🪙 coins is another looting opportunity created. Tichasvinura hedu.


gara wakadero wakapusa murakashi 1 month ago

people will not not be leave their us dollars looted for the second time

once beaten twice shy!

Mwana wevhu 1 month ago

Zim dollars can also purchase gold coins. You guys stop misleading people. If you don't want with your Usd no one is forcing you guys

Mezhumezhu 1 month ago

It won't work.


Mmmm 1 month ago

22K by 1 Troy Oz @ USD 53-00/grm x
31.1035grms = $1648-48usd. at today's gold price.


xxx 1 month ago

1 ounce ? thats too much for most pple


Nkust 1 month ago

Haisingori nyaya yevachena chete ykt dzorerai minda yaiva under bilateral agreement, chero nesu ma natives mukadzorera tobva taziva kuti you will owner your ownership certificate dzamunenge matipa


Sorobhangu 1 month ago

nhaka tinoremerwa naro rega ndinyarare zvangu.kundotenga nesetifiketi ummmm ndaseka zvangu wobapa yuwesi wopiwa bepa heeeee


Sca 1 month ago

[Vote CCC]


𝚖𝚞𝚌𝚑𝚊𝚜𝚟𝚒𝚔𝚊𝚙𝚘𝚒 1 month ago

𝚝𝚑𝚒𝚜 𝚐𝚘𝚕𝚍 𝚌𝚘𝚒𝚗𝚜 𝚗𝚘𝚗𝚜𝚎𝚗𝚜𝚒𝚌𝚊𝚕 𝚝𝚑𝚒𝚗𝚐 𝚒𝚜 𝚝𝚘 𝚝𝚛𝚢 𝚝𝚘 𝚍𝚒𝚟𝚎𝚛𝚝 𝚝𝚑𝚎 𝚁𝚎𝚊𝚕 𝚒𝚜𝚜𝚞𝚎𝚜 𝚔𝚘 𝗺𝗮𝗿𝗶 𝗱𝘇𝗮𝗶𝗻𝘇𝗶 𝗱𝘇𝗶𝗰𝗵𝗮𝗯𝗵𝗮𝗱𝗵𝗮𝗿𝗶𝗿𝘄𝗮 𝘃𝗮𝗻𝗮 𝗖𝗼𝗺𝗮 𝘁𝗲𝗮𝗰𝗵𝗲𝗿𝘀 𝗱𝘇𝗮𝘃𝗲𝗽𝗶?


zanu yaora 1 month ago

kupedzerwa nguva kuti vasiye zvekutaura nevashandi kuti vavape Mari chete uku
mahumbwe Aya
apana kwatiri kuenda
kwatabva ndokwatiri
taakutosvika 0qnguva yaGono iya tozosvika 2008

golden cert 1 month ago

pane anganyatsonditsanangurirawo here nezve gold coin nerurimi rwaamai. gold coin ukaritenga unoripiwa here or unopiwa certificate( chibepa).


gold coin 1 month ago

unopiwa zvese

apo unenge watobirwa Mari yako tese USA raenda sepaya

Mwana vevhu 1 month ago

You're given both

ini 1 month ago

according to my limited understanding of economics ma gold coins are not for all body. seni zvangu musivhuru servant I will never be able to afford the cheapest one. ndezvevanhu vane mari dzavo ma millions of Rtgs ......


passion java 1 month ago

nesu atide be USA reduwo ....kubirwa wakasvinura sedemba uko

takambotorerwa ma USA naye murume iyeyu
yazara mubank yave yake

Gafa 1 month ago

MaZimba tiri matununu unongotenderedzwa chinhu one segudo.They failed finish asi kukubirai havaperegwi.Smell the coffee yu fools.Havakudei ava


Oskid 1 month ago

Ko nhai ka gold coin kakarasika ndikasara necertificate ndinondopiwa chimwe here kubank.Ko ndikachinhonga ndisina certificate choshanda here?


Mhazi Chirumanzu 1 month ago

The sequence of events:

- Zimdollar
- Traveler's Cheque
- Agro bills
- Bearer cheque
- Bond coin
- Bond note
- RTGS dollar
- Zimbabwe dollar
- Gold coins

Handei tione


Anonymous 1 month ago

Right toti ndikuda kutenga Firiji kumbare with my gold coins, munhu wacho ndomupa zvese ne certificate here kkkkkkkk. Ko ukanhonga gold coin usina certificate rinoshanda here? chitsotsi ichi. Nyaya yese iri apo pakanzi unochengetesa ku bank raunoda ndokwaanononyurira ikoko because kuchati vanhu matenga monzi chiendesai ku bank poiswa mutemo munyowani, USD rakambo banniwa do u still remember? vano banner gold coin iro mokandirwa rtgs motoma ma makadaro. Wake up Zimbabwe


i 1 month ago

mubvunzo mumwe chete tati toti ndanonga macoin iwayo since anzi ane maserial number kutoreva kuti kutotsvaga muridzi wawo uriwega pasina certificate haashandeka


R'G 1 month ago

THE ONLY QUESTUON IS ARE THEY PREPARED TO SEE IT BECOME A. SADC CURRENCY OR WORSE THAT WILL KILL US ALL


Stalin MAU-MAU 1 month ago

The MOSI gold coin is big welcome to Zimbabweans who want to hedge their investments and those who need security. Gold coins have been in use for thousands of years and in use today in many countries. One troy ounce or 32 grams of 22caract gold coin is worth the same. Kruger Rand in SA is worth the same with the MOSI. If one has the money, buying the MOSI gold coin will be the wisest thing better than banking or keeping your money in the chimney! There is no Politics in this whatsoever.


Fari 1 month ago

Don't compare Zimbabwe with the rest of the world kkkkkk Zimbabwe inekaitiro kayo kasingawanikwe kumwe kwese. Just be careful with these guys, unonyudzwa kkkkk



Leave a comment


Recent News


News Categories



Feedback