RBZ issues smaller gold coins to public

By a Correspondent
MEMBERS of the public on Tuesday started accessing smaller units of the Mosi-oa-Tunya gold coins from local banks and registered agencies.
Last Friday, the Reserve Bank of Zimbabwe said it would release 4 500 smaller to licensed agencies for the public’s convenience.
The first phase of the gold coins was launched in July to stabilise the exchange rate and arrest inflation.
RBZ says, since July, more than 11 000 gold coins worth $11,4 billion have been sold while the exchange rate has remained stable.
The bank said the coins will be purchased at the prevailing international spot price of gold.
“The Reserve Bank of Zimbabwe is pleased to announce the release of the smaller units of the Mosi-oa-Tunya gold coins, the more inclusive and affordable store of value instrument. This all-inclusive alternative investment instrument is in line with the inclusivity mantra of leaving no one and no place behind,” said RBZ.
“With similar features to the one-ounce gold coin, the new gold coins will be available for purchase at any local bank, Homelink and Aurex shops starting from the 15th of November 2022. What a golden opportunity for value preservation.”
RBZ said features and characteristics of the smaller units are similar to one-ounce gold coins in circulation save for aspects such as one-tenth ounce with a diameter of 16mm, weight of 3,39g, edge type (fully needed with serial number on face of the coin) and a thickness of 1,2mm — a quarter of an ounce will be 21mm in diameter with a weight of 8,48g, edge type (reeded with serial number engraved) and a thickness of 1,65mm — and half an ounce will have a diameter of 25mm, weight of 16,97g, edge type (reeded with serial number engraved) and a thickness of 2,25mm.