1 ZiG (Zimbabwe Gold)

The Reserve Bank of Zimbabwe announced on April 5, 2024 the introduction of the Zimbabwe Gold (ZiG), a new gold-backed currency to replace the Zimbabwean dollar. The ZiG was backed by Reserve Bank reserves consisting of USD 100 million in cash and 2,522 kilograms of gold valued at approximately USD 185 million. Eight denominations from 1 ZiG to 200 ZiG were planned for the new currency series.

However, the 1 ZiG denomination was not released as a banknote. On April 30, 2024, it was issued exclusively as a circulation coin in nickel-plated steel as part of the ZiG coin family alongside 2 ZiG and 5 ZiG denominations. The Reserve Bank's decision to issue the three lowest denominations as coins rather than banknotes reflected monetary policy considerations and practical circulation requirements. Only the 10 ZiG and 20 ZiG banknotes entered circulation in April 2024.

The ZiG currency represented Zimbabwe's sixth attempt at currency stabilization since dollarization in 2009. The gold-backing mechanism was designed to provide credibility and stability to the new currency, addressing the hyperinflationary episodes that had plagued previous Zimbabwe dollar iterations. The coin design features Zimbabwe Bird imagery and Domboremari (Great Zimbabwe ruins), representing the nation's historical and cultural heritage.