Zimbabwe puts $10 million worth of small change into circulation: Afternoon Report

Coin World gives you a quick look at what's going on in the world of numismatics
By , Coin World
Published : 12/19/14
Text Size

1. Change is coming

Zimbabwe's central bank has put millions of dollars worth of new small-denomination bond coins into circulation in response to a shortage of change that is forcing the country’s consumers to overpay or buy unwanted goods, according to multiple news reports. 

Since 2009, Zimbabwe has used foreign currency, including the U.S. dollar, for all transactions after extreme inflation left its currency worthless.

"But with very few coins for these currencies in circulation, shoppers are given change in sweets or pens,” reads a BBC report that states $10 million has been distributed, and the total distribution could eventually be as high as $50 million.

The 1 cent, 5-cent, 10-cent and 25-cent coins are only for local use and are directly tied to U.S. dollar values. 

More on this story from BBC and Zimbabwe’s state-owned Herald newspaper. 

2. Precious metals pricing

Kitco.com listed the following prices per ounce at 3:05 p.m. ET Friday:

3. What's new on CoinWorld.com?

"The first [Rio 2016 Olympic commemorative] coin series contains one gold 10-real coin, four silver 5-real coins and four ringed-bimetallic 1-real circulation coins." 

Full story here.

4. Yesterday's most-viewed post

U.S. Mint moves deadline for ordering 2014 commemorative coins

5. Being social

You are signed in as:null

Please sign in or join to share your thoughts on this story

No comments yet