Mosi-oa-Tunya (coin)

Last updated
Mosi-oa-Tunya
Demographics
User(s)Flag of Zimbabwe.svg  Zimbabwe
Issuance
Central bank Reserve Bank of Zimbabwe
Valuation
Value international market rate for an ounce of gold plus 5%

The Mosi-oa-Tunya (English: The Smoke Which Thunders) is a gold coin introduced in Zimbabwe in 2022 in the context of rising inflation.

Contents

Nomenclature and characteristics

The Mosi-oa-Tunya is the Tongan name for Victoria Falls and translates into the English language as The Smoke Which Thunders. [1] [2]

The coins weigh one troy ounce and are made of 22 carat gold. [2] [3] They were minted outside of Zimbabwe. [4]

Each coin has a unique serial number. [5]

Use

The Reserve Bank of Zimbabwe distributed 2,000 Mosi-oa-Tunya to commercial banks on 25 June 2022. They can be used for normal retail purposes. [2] The coins were introduced in the context of instability with existing local currency and Zimbabweans tendency to use the U.S. dollar. [4]

Value

The coins are worth the international market rate for a troy ounce of gold, plus five per cent. [2]

See also

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References

  1. Thomas, Merlyn (2022-07-25). "Zimbabwe launches gold coins to tackle soaring inflation". BBC News. Retrieved 2022-07-25.
  2. 1 2 3 4 MUTSAKA, FARAI (25 July 2022). "Zimbabwe debuts gold coins as legal tender to stem inflation". ABC News. Retrieved 2022-07-25.
  3. Ndlovu, Roy (22 July 2022). "Zimbabwe Gives Images of Gold Coins Meant to Tackle Inflation". www.bloomberg.com. Retrieved 2022-07-25.
  4. 1 2 "Zimbabwe introduces gold coins in an effort to tame inflation, rekindle faith in currency". CBC. 25 July 2022.
  5. Giedroyc, Richard (2023-05-22). "Zimbabwe Has Small Change Crisis". Numismatic News. Retrieved 2023-05-26.