Zimbabwean bond coins facts for kids
Quick facts for kids Zimbabwean bond coins |
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| Country |  Zimbabwe |
| Issuers | Reserve Bank of Zimbabwe (2014–2024) |
| Denominations | 1, 5, 10, 25, 50 Cents Bond Coin, 1 Dollar Bond Coin, 2 Dollar Bond Coin |
Zimbabwean bond coins are special coins released by the Reserve Bank of Zimbabwe. They first came out on December 18, 2014. These coins were created to help with money problems in Zimbabwe. They were backed by a US$50 million loan from Afreximbank, a bank that helps with trade in Africa.
The first bond coins were in values of 1, 5, 10, and 25 cents. They were designed to be worth the same as U.S. dollar cents. A 50 cents bond coin was added in March 2015. Later, a one-dollar bond coin was released in November 2016. A two-dollar bond coin came out in 2019.
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Why Were Bond Coins Created?
Zimbabwe faced a problem with not having enough small change. This happened because the country started using many different currencies in 2009. Before that, Zimbabwe had its own money, the Zimbabwean dollar. But it had huge inflation, meaning prices went up incredibly fast.
To fix this, Zimbabwe decided to use other countries' money, like the U.S. dollar and the euro. This system helped stop the inflation. However, it meant Zimbabwe couldn't print its own small coins for these foreign currencies. This led to a shortage of change for everyday shopping. The bond coins were introduced to solve this problem.
Public Reaction to Bond Coins
Many people in Zimbabwe were worried about the new bond coins. They feared it was the government's first step to bring back the old, unreliable Zimbabwean dollar. John Mangudya, who was in charge of the Reserve Bank of Zimbabwe, said this was not true. He promised the bond coins were not a return to the old currency.
The bond coins were the first new coins for Zimbabwe since 2003. They were made at the South African Mint in Pretoria.
Coins in Circulation
Here is a list of the different bond coins that have been used:
| Denomination | Year | Obverse | Reverse | Weight | Diameter | Material | Ref. |
|---|---|---|---|---|---|---|---|
| 1 Cent Bond Coin | 2014 | RBZ in various positions with coin date centered | Enclosed in circle with "1" surrounded by "ONE CENT BOND COIN" | 2.45 g | 17 mm | Copper-plated steel | |
| 5 Cents Bond Coin | 2014 | RBZ in various positions with coin date centered | Enclosed in circle with "5" surrounded by "FIVE CENTS BOND COIN" | 2.85 g | 18 mm | Brass-plated steel | |
| 10 Cents Bond Coin | 2014 | RBZ in various positions with coin date centered | Enclosed in circle with "10" surrounded by "TEN CENTS BOND COIN" | 3.80 g | 20 mm | Brass-plated steel | |
| 25 Cents Bond Coin | 2014 | RBZ in various positions with coin date centered | Enclosed in circle with "25" surrounded by "TWENTY-FIVE CENTS BOND COIN" | 4.80 g | 23 mm | Nickel-plated steel | |
| 50 Cents Bond Coin | 2014 | RBZ in various positions with coin date centered | Enclosed in circle with "50" surrounded by "FIFTY CENTS BOND COIN" | 6.00 g | 25 mm | Nickel-plated steel | |
| 1 Dollar Bond Coin | 2016 | RBZ in various positions with coin date centered | Enclosed in circle with "1$" surrounded by "ONE DOLLAR BOND COIN" | 9.06 g | 28 mm | Brass ring with a nickel-plated steel center plug | |
| 2 Dollars Bond Coin | 2018 | RBZ in various positions with coin date centered | Enclosed in circle with "2$" surrounded by "TWO DOLLAR BOND COIN" | 11.11 g | 28 mm | Cupronickel ring with an Aluminum-bronze center plug |
Bond Coins and the RTGS Dollar
In February 2019, the head of the Reserve Bank of Zimbabwe announced something new. He said that the bond coins would become part of a new currency. This new money was called the Real Time Gross Settlement (RTGS) dollar. This meant the bond coins would work alongside the new RTGS dollar in Zimbabwe's money system.
See also
- Zimbabwean bond notes
- Zimbabwean bonds
- Zimbabwean dollar
- Real Time Gross Settlement (RTGS) Dollar
