The government of Zimbabwe has announced that it will issue gold coins in July, a move that is being viewed with skepticism by many local currency traders.
The gold coin, which will be called “Mosi-Oa-Tunya,” will weigh one troy ounce and have a purity of 22 carats, the Reserve Bank of Zimbabwe said in a July 4 press release. Every coin will have a serial number and can be used as collateral security for loans and credit facilities.
