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geejay50

2014 Zimbabwe Bond Coins the First Zim Coins Since 2003

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geejay50

Hi guys,

 

I don't know how many of you are aware that since December 2014, there have been Zimbabwe Bond Coins released by the Reserve Bank of Zimbabwe. They occur in denominations of 1c, 5c 10c (Brass) then 10c 25c and 50c (Nickel)

 

These coins, although released by the Reserve Bank of Zimbabwe were minted by the South African Mint in Pretoria and are used to alleviate the shortage of small currency in Zimbabwe. They are denominated as fractions of the US Dollar which is mostly used and are given out as change.

 

They bear the denomination on the Reverse and the date of 2014 on the Obverse with "RBZ" in different sizes as a background (Reserve Bank of Zimbabwe)

 

I only have learnt about these coins following a visit my wife made to Bulawayo recently and not a single word has been said officially that I know of by the SA Mint.

 

The 1 cent is very scarce

 

The coins are referred to as "Tokens" by the Zim Public and are the first attempt at Zim currency since 2003

 

Have any of you seen such coins?

 

They must be very collectible for this is surely a unique event where the top currency unit belongs to another country (USA) and the smaller denominations were minted by the neighbour for usage in Zimbabwe ?

 

Are they Tokens or Coins?

 

Geejay

 

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Edited by geejay50

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With the rand's nosedive, the bond coins are becoming more and more popular as the rand is actually being refused by some shopkeepers and definitely petrol stations. I believe they are looking at introducing more bond coins which will seemingly be backed by bonds through a US$200 million line of credit by the African Export Import Bank which is based in Cairo. It is hard to believe that Zim could secure this credit. I'm sure that SA mint will be happy to mint these for them. It also affirms the poor state of the rand and the irreversible damage done by irresponsible governance.

 

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