Looks like the ZiG is going to zag down. Hard.
Mike recently helped bring to my attention that we're about to get our first new Zimbabwe coins in about 6 years and my Zimbabwe Coin and Note sets are going to be growing again.
The new currency was announced earlier this month (I think around the 5th) and they're supposed to release the new notes tomorrow (on the 30th) and there are already some interesting signs that things are not going well:
They announced 8 note denominations and 2 coin denominations (0.25 ZiG and 0.5 ZiG)
But there were almost immediately stories about the currency dropping in value against the dollar - even before you could get cash for it - and the government not taking the old ZWL dollars - even though they were supposedly good until 4/30 - and the fact that the government itself was still wanting to be paid for things in US dollars...
Now though, those coins are going to have denominations of 1 ZiG, 2 ZiG, and 5 Zig. Not the factional coins they said before. Three coin denominations that overlap with the currency denominations that they announced 3 weeks ago... that they haven't released yet...
The 2 ZiG and 5 ZiG coins were apparently announced over the weekend - Friday 4/26 and Saturday 4/27, based on the articles out there.
That's from the "Zimbabwe Situation." This feels like this can't be a good sign. This can't be going well.
Supposedly 1/10 ZiG, 1/4 ZiG, and 1/2 ZiG coins are still coming but... Are they? I can't help but notice that today we're getting specs released for 1 ZIG, 2 ZIG, and 5 ZIG but there's narry a peep about the fractionals.
I guess we'll see if I get 2 new coins, 3, or 6 to add to my collection. I guess it sounds like we're only getting 6 new notes now... but maybe we'll get a 1,000 ZIG note instead... and then a 5,000 ZiG note, and then a 10,000 ZiG note... Or they could just throw up their hands and admit that this is not going to work and write-off the whole idea.
The irritating part here is that there is no room for these in my 24-coin case that I got for all the other coins... Cleary time to start planning a new box...
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