*RBZ Halts Gold Coin Sales After “Mop-Up” Exercise* The Reserve Bank of Zimbabwe (RBZ) has officially halted the sale of the country’s gold coins, effective immediately. This move marks the successful conclusion of a “mop-up” initiative designed to clear existing stock, as confirmed by the central bank. In a statement issued on June 16, 2025, RBZ Governor Dr. John Mushayavanhu clarified that this suspension is the culmination of a successful clearance sale, not the recommencement of new gold coin minting, which ceased in April 2024. “The Reserve Bank of Zimbabwe wishes to advise the transacting public that the mop-up sale of gold coins has been suspended, with immediate effect, following the successful completion of the exercise,” Dr. Mushayavanhu stated. He further explained, “This was a sale meant to clear remaining stock and not the minting of new gold coins which had been suspended in April 2024. The latest round of gold coin sales also included coins redeemed by holders.” The gold coins were initially introduced by the RBZ in July 2022 as a strategic store of value to counter high inflation and the depreciating Zimbabwe dollar. Their price was directly linked to international gold prices, with an added margin for handling costs. The central bank assured the public that gold coins currently in circulation remain valid financial instruments. Holders are still able to trade or redeem them. “The Reserve Bank further advises that future gold coin sales will be undertaken upon accumulation of a sizeable quantity from redemptions,” Dr. Mushayavanhu added. These coins, purchasable with either Zimbabwe dollars or foreign currency, played a crucial role in the nation’s monetary policy by absorbing excess liquidity in the market. While the RBZ did not release specific figures for the total number of gold coins sold during this recent mop-up phase, previous reports indicated sales exceeding 35,000 units, valued at over ZW$30 billion (approximately R1.4 billion). The RBZ reiterated its dedication to fostering financial stability, promising to introduce new financial instruments to encourage savings. “The Reserve Bank would like to take this opportunity to reaffirm its commitment to continuously avail alternative financial market instruments to promote savings, as well as achieve its monetary policy objectives,” Dr. Mushayavanhu concluded. This significant announcement comes as the central bank maintains stringent monetary controls, especially following the launch of the new structured currency, the Zimbabwe Gold (ZiG), in April 2025.