Last week, the central bank of Zimbabwe announced the sales of its gold coins which would start on July 25th. Today, South Africa has followed suit.
In this case, it is the famous ZAR (Zuid-Afrikaansche Republiek) coins of South Africa. These coins are also known as the Krugerrands collection.
According to reports, they would be tokenized and sold to interested parties for as little as $200. Additionally, Momint, a popular Web3 company, will take charge of the process.
Momint will mint the tokenized tokens of the Krugerrands collection. Also, it would be available on its NFT market for users to buy
Tokenized Krugerrand Coins Available On Momint
As per reports, the Web3 firm, Momint will tokenize the ancient ZAR coins. Furthermore, it would collaborate with two gold coin merchants – the South African Gold Coin Exchange and Scion Shop.
The report said the ZAR coins would be available to everyone. This includes even the less affluent enthusiasts who do not have funds to go for other coins.
Furthermore, owners of the digital South African coins will also own the physical coins. IT News Africa confirmed this in their news report.
According to IT News Africa, South Africa will tokenize all the coins. This includes those struck before the South African War of 1899.
Also, Momint stated that its NFT marketplace would accept credit card purchases. This is to ensure that the tokenized currencies are available to many people.
The Web3 firm added that it would create a cryptocurrency wallet for each customer. However, the starting price for collectors will be $200.
The ZAR Coins Still In Good Condition
It is noteworthy to say the Krugerrand coins were composed of silver, gold, and bronze. Meanwhile, they were first issued in Germany in 1874.
Significantly, they have maintained an excellent condition over the years. Also, they are “rated highly” by the grading service PCGS.
Thus, one of the ZAR coins, the Een Pond, is today estimated to be worth over $14,087 (240,000 Rands). This is higher than its original value of one rand in 1893.
Furthermore, owners of the tokenized ZAR coins, like those of actual gold, will enjoy several benefits. The coins would protect their funds from the effects of the upcoming recession as the globe braces for yet another one.
In other news, Zimbabwe’s central bank announced its gold coins last week. According to the report, Zimbabweans can now purchase one these gold coins beginning from July 25th.
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