Zimbabwe’s Mosi Oa Tunya Gold Coin Released, Official Price Finally Revealed

Zimbabwe Gold Coin Price

Zimbabwe’s Mosi Oa Tunya Gold Coin Official Price Finally Revealed

The Reserve Bank of Zimbabwe (RBZ) has revealed the official price of the Mosi Oa Tunya gold coin.

The Mosi Oa Tunya gold coin was released on Monday and is being sold in both local and foreign currency.

The price of the gold coin in Zimbabwe will be published on a daily basis at 0800 hours by the central bank. The gold coins shall be sold at the prevailing international price of gold plus 5% to cover the cost of production and distribution of the coin on a Payment vs Delivery basis.

In terms of the actual cost of the Mosi Oa Tunya gold coin in Zimbabwe, the central bank said the price:

….shall be based on the previous day’s London Bullion Market Association (LBMA) PM Fix plus the cost of producing the coin.

The LBMA Gold price is set twice daily at 10:30 and 15:00 in an auction independently operated and administered by ICE Benchmark Administration (IBA). The price is set in US dollars per fine troy ounce. Sterling and Euro prices are available but they are indicative prices for settlement only. IBA also publish the price in a range of other currencies.

If one wants to purchase the Mosi Oa Tunya gold coin using the Zimbabwe dollar they will do so at the prevailing willing-buyer willing-seller exchange rate.

Banks in Zimbabwe are allowed to conduct foreign exchange transactions of up US$1 000 on a willing-buyer willing-seller basis.

Other currencies that can be used to purchase gold coins in Zimbabwe include the British Pound, the Euro, Australian Dollar, Botswana Pula and Rand.

According to information gathered by this publication, the Mosi Oa Tunya gold coin’s buying price is set at US$1,823.80.

Below is the official price for the gold coin as of 25 July 2022:

Zimbabwe Gold Coin Price
The opening price of Zimbabwe’s Mosi Oa Tunya gold coin (Image Credit: Nick Mangwana)

Zimbabwean buyers including individuals may buy in local currency or foreign currency. Zimbabwean corporates including institutional investors will be allowed to buy gold coins in local currency or foreign currency, subject to quantity restrictions where it is deemed necessary.

Zimbabwean exorting entities shall buy Mosi-oa-Tunya gold coins in foreign currency, from their retained export portions.

Non-resident (international) buyers shall only buy the Mosi-oa-Tunya gold coins in denominated foreign currencies.

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