The Reserve Bank of Zimbabwe (RBZ) yesterday sent out an announcement informing the public of the features of the Zimbabwean dollar coins and the fact that they were going to be placed into circulation starting this Monday.
The rumours were true the government has been lying to us, big surprise…
According to the public notice:
The two-dollar bond coin will have the following features and characteristics:
(a) bi-metal with the outer rim being copper-nickel plated and the inner core being aluminium-bronze plated;Part of the notice on the issue of $2 coins
(b) serrated rim profile with a groove and edge lettering;
(c) inscription of the words “Two Dollar Bond Coin” and the numeral and symbol “$” on the observe side and
(d) inscription of the letters “RBZ” and the numeral “2018” on the reverse side.
Given the current prices, $2 coins are welcome but they are not going to sufficiently scratch the itch for cash. We have $2 bond notes already and a lot of people already hate them because you need half-a sackful of those to buy a couple of bags of fertilizer for example. If you go grocery shopping those notes won’t fit in your pocket, why then is the government minting coins which are even more inconvenient.
Well, it’s simple really, the government has been lying all along. On multiple occasions, we were told that the government wanted to introduce the Zimbabwean dollar and the government came out with vehement denials making hollow claims that they were committed to the multi-currency system.
The $2 coins are irrefutable proof that they were lying on all these occasions. The coins have the date 2018 on them. 2018 was a year ago. So that’s when they planned on introducing this Zimbabwean dollar. It explains the lack of foresight as prices were a bit lower then.
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