Zimbabwe made special gold coins called Mosi-Oa-Tunya, named after the beautiful Victoria Falls. People who bought these coins made lots of money because the price went up by sixty-six percent. When the coins first came out in July 2022, they cost one thousand eight hundred twenty-three dollars. Today, they cost three thousand forty dollars.
Many people put their money in these gold coins instead of keeping regular money. Big companies that save money for workers' retirement bought these coins. Regular people also bought them using Zimbabwe's money. Princess Revai, who understands money very well, says these coins helped people keep their money safe when prices went up.
Gold makes people feel safe about their money. Banks let people use these coins as a promise when they want to borrow money. People can keep their coins at home or ask banks to keep them safe. The bank gives them a special paper saying the coins belong to them.
These coins work like regular money. People can sell them anywhere in the world or use them to buy things. The bank promises to buy back any coins people want to sell. This makes everyone feel good about buying them.
Gold became more expensive because of many things around the world. Bad things happened in Ukraine, and prices went up everywhere. America changed how much money it costs to borrow, making gold worth more money. People wanted gold because they were worried about money problems.
The Reserve Bank of Zimbabwe sells these coins. People can also buy them from special gold shops and banks. The price of the coins follows the price of gold worldwide, plus a small fee for making them.
Many people put their money in these gold coins instead of keeping regular money. Big companies that save money for workers' retirement bought these coins. Regular people also bought them using Zimbabwe's money. Princess Revai, who understands money very well, says these coins helped people keep their money safe when prices went up.
Gold makes people feel safe about their money. Banks let people use these coins as a promise when they want to borrow money. People can keep their coins at home or ask banks to keep them safe. The bank gives them a special paper saying the coins belong to them.
These coins work like regular money. People can sell them anywhere in the world or use them to buy things. The bank promises to buy back any coins people want to sell. This makes everyone feel good about buying them.
Gold became more expensive because of many things around the world. Bad things happened in Ukraine, and prices went up everywhere. America changed how much money it costs to borrow, making gold worth more money. People wanted gold because they were worried about money problems.
The Reserve Bank of Zimbabwe sells these coins. People can also buy them from special gold shops and banks. The price of the coins follows the price of gold worldwide, plus a small fee for making them.
