In 2022, in order for the government to absorb excess currency in circulation, Zimbabwe released a series of gold coins depicting Victoria Falls (Mosi-Oa-Tunya in the native language). These coins can be obtained for their gold value and redeemed in either Zimbabwean or foreign currency.
Currently, these coins are listed in exonumia. However, not only do I believe they should be listed in coins, but they should be listed as “standard circulation coinage.” Here is my reasoning:
1. Other bullion that is redeemable for local currency, such as the Mexican Libertad or the South African Krugerrand, are listed in coins.
2. Precious metal coins that are released for face value are listed as circulating. Since the 1980s, Uruguay has issued commemorative coins in gold and silver for their face value. These coins were immediately demonetized to prevent their redemption at banks. These Zimbabwean coins are a better medium of exchange than these Uruguayan issues, as they are actively used for large purchases.
Therefore, I believe that these Mosi-Oa-Tunya should be moved to the coin catalog as circulating coinage.
Regards,
Theodore
Master Coin Referee
Coin referee for CRI, GTM, HND, NIC, PAN, and SLV.
Revisor principal de monedas
Revisor de Numista para monedas de CRI, GTM, HND, NIC, PAN y SLV.
Shouldnt all bullion coinage be gathered together?
When you say they are redeemable in Pounds, does it mean they are part of this currency with a fixed value?
Important other thing to consider is that we'll release next year a new Numista menu allowing to not separate coins & what we currently sort as “Exonumia”
I updated this morning myself. While reviewing all currencies to move forward with Denominations cleaning, I found a handful of bullion categories that I attached to our existing “bullion > rounds” category.
I sincerely thought it was a no brainer, I apologize if it was a mistake. It is revertable of course, but should we? What distinguishes this bullion from the rest?
If you're asking me, I really don't have an opinion either way. I place my trust in the Numista Team to do the right thing. I just assumed things like this would be discussed internally before unilateral action is taken.
The Manx crowns are redeemable at a fixed rate to the pound. I believe this ratio is 1 crown = 25 pence. (I don't remember if this is correct. You will have to ask the referee: Oklahoman.)
The Mexican, South African, and Zimbabwean issues are different than other bullion. These coins are redeemable for metal value by the central banks of these countries. Therefore, they are as valid as base metal, circulating coinage.
Master Coin Referee
Coin referee for CRI, GTM, HND, NIC, PAN, and SLV.
Revisor principal de monedas
Revisor de Numista para monedas de CRI, GTM, HND, NIC, PAN y SLV.
I wasn't informed about this. It seems that Compendium made this decision without informing anyone.
Yes, sorry I thought it was a no brainer really. I took hundreds of actions everyday on the catalogue…
The Manx crowns are redeemable at a fixed rate to the pound. I believe this ratio is 1 crown = 25 pence. (I don't remember if this is correct. You will have to ask the referee: Oklahoman.)
The Mexican, South African, and Zimbabwean issues are different than other bullion. These coins are redeemable for metal value by the central banks of these countries. Therefore, they are as valid as base metal coinage.
But still they are bullion, right? The fact some bullion are redeemable do not make them actual coins, just liquid garanteed investment vehicles, right?
The fact that this coin is redeemable means it's not in exonumia.
The question is about if its a Bullion. I believe its not right? Its written 1 dollar on it, so it is part of this currency, whereas bullion are not part of currencies.
Multiple categories currently under “Exonumia” are indeed grey areas (official collector currency, bullion, primitive money, ECU etc) but still I believe it creates more issues to not use those categories consistently.
We're aware that grouping them under “Exonumia” naming creates frictions, hence the future menu revamp, which will be the solution.
The question is about if its a Bullion. I believe its not right? Its written 1 dollar on it, so it is part of this currency, whereas bullion are not part of currencies.
Multiple categories currently under “Exonumia” are indeed grey areas (official collector currency, bullion, primitive money, ECU etc) but still I believe it creates more issues to not use those categories consistently.
We're aware that grouping them under “Exonumia” naming creates frictions, hence the future menu revamp, which will be the solution.
These coins are within a currency system. Their face value is whatever the price of gold or silver is that day.
You also mention that “official collector currency” as a category to be moved to exonumia. Are you suggesting that non-circulating coins be moved to exonumia? If so, then the catalog would be unusable.
Master Coin Referee
Coin referee for CRI, GTM, HND, NIC, PAN, and SLV.
Revisor principal de monedas
Revisor de Numista para monedas de CRI, GTM, HND, NIC, PAN y SLV.
These coins are within a currency system. Their face value is whatever the price of gold or silver is that day.
Then you would like all Bullion to go to Coins, right?
You also mention that “official collector currency” as a category to be moved to exonumia. Are you suggesting that non-circulating coins be moved to exonumia? If so, then the catalog would be unusable.
No, unofficial bullion (such as this) should remain in exonumia. However, if a government issues bullion and redeems it for national currency, then it should be under coins.
Master Coin Referee
Coin referee for CRI, GTM, HND, NIC, PAN, and SLV.
Revisor principal de monedas
Revisor de Numista para monedas de CRI, GTM, HND, NIC, PAN y SLV.
No, unofficial bullion (such as this) should remain in exonumia. However, if a government issues bullion and redeems it for national currency, then it should be under coins.
I disagree here. For me a modern item cannot be part of coins section without having a currency attached and written on it. A Bullion, even redeemable, should be sorted as Bullion. The section is full of official national bullions as well as private ones, and in my opinion it would make little sense to investigate each one of those to know if they were redeemable or not at some point by any public or private institution.
I escalated this question to Xavier and will wait for his decision.
Guidelines are a bit blurry on this. As we have similar issues in coins (and I do not like that very much) we should probably move these as well. We should give it it special currency, as it is with those similar cases.
