The Reserve Bank of Zimbabwe (RBZ) has recently announced the features and characteristics of gold coins which are to be introduced soon.
In a statement 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.
In a statement issued by the Reserve Bank of Zimbabwe, the bank wished to advise the public of the salient features and characteristics of the gold coin.
It stated that the gold coin shall be called the Mosi-Oa-Tunya Gold Coin with characteristics such as weight of one troy ounce, 22 carats on purity and each coin will have a serial number.
The statement also included the issue of ownership whereby 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.
It also mentioned that 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.
According to the RBZ statement, 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 and also can be used as security for loans and credit facilities. Meanwhile, 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
