Scoin Partners With Momint To Tokenise $1.2 Million ZAR Coin Collection
Scoin Partners With Momint To Tokenise $1.2 Million ZAR Coin Collection. The South African Gold Coin Exchange and Scoin have partnered with Momint to tokenise an exclusive Complete Denomination Coin Proof set of the old ZAR coinage, making ownership of these legendary coins accessible to the digital community. Collectively known as the original Krugerrands, these coins hold a unique place in South Africa’s history and continue to grow in value.
Through the use of NFT technology, Scoin and Momint have tokenised an original South African Proof gold Coin Set, valued at $1.2 million. The coin set is going to be fractionalised into 1 510 NFTs ranging from $200 to $12 000, thus enabling lower price entry points for coin enthusiasts to own their share of these otherwise unaffordable historical assets. This pioneering partnership demonstrates the potential of physical asset NFTs. Such NFTs bridge the gap between the real and digital worlds, enhancing the real-world value of NFTs.
The 1892 ZAR Complete Denomination 10 Coin Proof Set has been painstakingly sourced, collected and placed into a specially designed presentation case. The coins have remained in exceptional quality and contain the entirety of all denominations issued by the Z.A.R. Government, including the incredibly rare 1892 “Red-Brown” Proof Penny. This “Red-Brown” trait was an ‘error’ in the minting process, but these errors are highly prized by coin collectors.
South African coins issued between 1892 – 1897, from the period before the onset of the Anglo-Boer war in 1898, are particularly sought after. Most of the coins minted during this period ended up getting lost or destroyed during the war and the Interwar Period of British Control, and this coin set is considered to be one of the highest-graded Proof quality coins from the first currency issued by President Kruger.
The coin set is fractionalised through the use of a smart contract which generates a set number of tokens linked to the indivisible original asset. Owning one of these tokens gives you partial ownership of the physical coin set, the proof of which is contained in your custodial wallet (which is generated for you by Momint). Scoin will retain custody of the coin set and ensure its safe storage in a secure, undisclosed facility managed by SafeGold. Certain token holders will nevertheless be able to arrange in situ viewings of the coin set with Scoin. They will also ensure the coin set is fully insured.
