Zimbabwe’s Gold Reserves Valued at Just $501,390

Reuters reported that according to Zimbabwe’s finance minister, the country’s only gold reserves are coins valued at $501,390.

As quoted in the market news:

‘The (central) bank does not hold any gold reserves except for gold coins, which were valued at $501,390 as at the end of January 2014,’ [Finance Minister Patrick Antony] Chinamasa said.

Zimbabwe produced 13 tonnes of gold last year, well below the all-time record of 29 tonnes in 1998.

Click here to read the full Reuters report.