The features of the Zimbabwe Gold Coins (ZiG), which are expected to begin circulation next Tuesday, have been gazetted by the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube.
The ZiG currency was introduced by the Governor of the Reserve Bank of Zimbabwe, Dr. John Mushayavanhu, when he delivered his maiden monetary policy statement on April 5.
The features are included in Statutory Instrument No. 75 of 2024 referred to as the Reserve Bank of Zimbabwe (Issuance of ZiG Coins) Notice, 2024.
The coins will come in denominations of one ZiG, two ZiG and five ZiG.
“We are hereby notified that the Minister of Finance, Economic Development and Investment Promotion, pursuant to section 44D(2) of the Reserve Bank of Zimbabwe Act, has served the following notice setting out the matters to be determined by the President,” the notice reads.
“The design of ZiG coins shall be as follows: (a) on the marked side of all ZiG coins, an impression of the Zimbabwean bird facing to the left, around which there must be the inscription “ZIMBABWE” with the year of manufacture; (b) on the reverse side – (1) in case of one ZiG coin, engraving of the Great Zimbabwe Monument and engraving of “1ZiG” in the lower right of the engraving of the Great Zimbabwe Monument; The five ZiG coins, Victoria Falls print and the inscription “5ZiG” at the top right of the Victoria Falls print; (c) diameter: (i) in the case of one ZiG coin, 20 millimeters with plain edge; (2) in the case of two ZiG coins, 20.09 millimeters with fully serrated edge; (iii) in the case of the five ZiG coin, 24.09 mm with interrupted grinding edge.
ZiG must consist of 92.94 percent steel and 7.06 percent nickel (nickel plate on a steel core) and weigh 3.75 grams while ZiG must consist of a nickel plate (25 microns on a steel core, i.e., 94 percent steel and 6 percent nickel) with a standard mass of 5.3 g.
The five ZiGs must consist of a nickel plate (25 microns on a steel core, i.e. 94 percent steel and 6 percent nickel) with a standard mass of 7.5 g. Announce
