Jump to content

Zimbabwe: Coins are back


Recommended Posts

Today's currency cut in Zimbabwe also brought coins back to life. In addition to the new paper money ($1, 5, 10, 20, 100, 500) the government also (re-)issued several coin denominations. http://www.zimeye.com/article0111310708.html Seems that some of them are just the old pieces from the 1990s while others are new.




In other words, the coins from 10+ years ago are now worth billions as much. No way to get rich quick though, as the hyperinflation will have "eaten" all the theoretically possible profits ...



Link to comment
Share on other sites

Ok, paper money maybe. Why on earth did they bother with the coins? They'll be useless within weeks.

The new coins will probably be worth more as scrap metal than as money by the time they are released to circulation.


So the mintage will likely be small with virtually all either hoarded or melted almost immediately.


It would not be surprising if the coins are never struck, or if struck, not released because they are made worthless by inflation before the planned release date.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...