FEATURES of the Zimbabwe Gold (ZiG) coins, whose circulation is expected to start next Tuesday, have been gazetted by Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube.
The ZiG currency was introduced by Reserve Bank of Zimbabwe Governor, Dr John Mushayavanhu, when he presented his first Monetary Policy Statement on April 5.
The features are contained in Statutory Instrument 75 of 2024 cited as the Reserve Bank of Zimbabwe (Issue of ZiG Coins) Notice, 2024.
The coins will come in denominations of one ZiG, two ZiG and five ZiG.
“It is hereby notified that the Minister of Finance, Economic Development and Investment Promotion has, in terms of section 44 D (2) of the Reserve Bank of Zimbabwe Act made the following notice specifying the matters determined by the President,” reads the notice.
“The design of the ZiG coins shall be— (a) on the observe side of all the ZiG coins, an impression of the Zimbabwe Bird looking to the left, and around shall be the inscription “ZIMBABWE” with the year of manufacture; (b) on the reverse side— (i) in the case of the one ZiG coin, an impression of the Flame Lily and the inscription “1ZiG” to the bottom right of the impression of the Flame Lily; (ii) in the case of the two ZiG coin, an impression of the Great Zimbabwe Monument and the inscription “2ZiG” to the top right of the impression of the Great Zimbabwe Monument; (iii) in the case of the five ZiG coin an impression of the Victoria Falls and the inscription “5ZiG” to the top right of the impression of the Victoria Falls; (c) a diameter of— (i) in the case of the one ZiG coin, 20 millimetres with a plain edge; (ii) in the case of the two ZiG coin, 20,09 millimetres with a fully serrated edge; (iii) in the case of the five ZiG coin, 24,09 millimetres with an interrupted milling edge,” he said.
The one ZiG shall consist of 92,94 percent steel and 7,06 percent nickel (Nickel plate on a steel core) and weigh 3,75g while the two ZiG will be made up of nickel plate (25 microns on steel core, that is, 94 percent steel and 6 percent nickel) with a standard mass of 5,3g.
The five ZiG shall consist of nickel plate (25 microns on steel core, that is, 94 percent steel and 6 percent nickel) with a standard mass of 7,5g.
The ZiG will also have notes denominated in 10ZiG, 20ZiG, 50ZiG, 100 ZiG and 200 ZiG.
