Momint to Tokenise Iconic South African Coins -The South African Gold Coin Exchange & The Scoin Shop has partnered with Momint, a South African Web 3.0 tech firm to tokenise an... -
The South African Gold Coin Exchange & The Scoin Shop has partnered with Momint, a South African Web 3.0 tech firm to tokenise an exclusive Complete Denomination Coin Proof set of the oldCollectively known as the original Krugerrands, the coins occupy a unique place in South African history and have only grown in legend and in value. Now a new generation of collectors can get their hands on a piece of this iconic collectable set.
This pioneering partnership once again demonstrates how the blockchain is revolutionising asset ownership. Once only the domain of only the wealthiest numismatists, this tokenisation will enable fractionalised ownership of this priceless collection, lowering the entry point for enthusiastic collectors to a price as low as $200.
To ensure the accessibility of the collection, Momint marketplace supports the purchase of NFTs using a credit card and generates a crypto wallet on behalf of each user, the company says.Since the ZAR-era coins were first minted in 1874, beginning with the Burgersponde, they have proven to be an outstanding store of value over their nearly 150-year history. Worth a face value of 1 ZAR in 1893, the ‘Een Pond’ coin alone is worth more than R240,000 today.
The holders of the tokens will gain part ownership of the actual physical collection. This initiative comes at an ideal time with the global economy poised for recession, and gold widely accepted as the safest alternative asset class in times of economic uncertainty. The coins were first minted through the Berlin Mint of Germany in 1874. When Paul Kruger became President, he commissioned what is considered the first true ZAR. circulation coins made of gold, silver and bronze. The coins were remarkably well preserved due to non-use during the subsequent war and are therefore in exceptionally good condition and graded highly by the foremost grading company PCGS.
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