Add exchange rate for (certain) bullion coins

Hello all,

Bullion coins from some countries, such as Mexico, South Africa and recently Zimbabwe, are redeemable for national currency. For example, this 1 Ounce Mexican coin is currently redeemable for MXN$451.52. Since we list the bullion value and exchange rate for coins, would it be possible to combine these values?

This would not apply for coins with a fiat face value, such as the American Silver Eagle.

Regards,

Theodore

Hello,

Could you please share more information about how these coins are “redeemable”? Does it mean that a local authority gives an official price, and you can bring the coin to the bank and get that price? Is there a website showing this official price?

On the page you linked, I see the bullion value is 22.90 EUR, which is indeed close to 451.52 MXN. A Mexican visitor would see the bullion value in MXN rather than EUR.

Lets take the Zimbabwean “Mosi Oa Tunya” as an example. The Reserve Bank of Zimbabwe sells this coin for the coin for the spot price of gold plus ~10% for manufacturing costs. After 180 days, these coins can be redeemed by the Reserve Bank of Zimbabwe for spot price in USD or ZWD. The rates are shown on the Reserve Bank's website.

This is also the case for Mexico, although it is only redeemable for MXN. I am less sure about how South Africa's system works, so I would have to look into them further.

Here's an interesting detail from the South African Reserve Bank's website:

"The SARB only purchases gold coins that are deemed to be legal tender. 

These coins include:
 

• Krugerrands
• Natura series coins
• Protea series coins"

However, some of the Natura and Protea coinage display a face value (such as this). So despite this coin listing a face value of R10, the Reserve Bank will redeem them for R3,680.81. Which should we list?

Thank you for the explanations. It's interesting to see that these banks allow to redeem these coins at the spot price.
 

If I over-simplify though, I understand that these central banks are just part of the multiple professionals who buy bullion coins. I don't see much value in advertising their buying price, rather than the buying price of other buyers like Apmex, Künker, etc. Especially since their price is equal to the spot price, which is already displayed.