Tokenising a Part of South Africa's History
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.
About the Coin Set
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.
Fractionalising The Coin Set
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.
Fractionalisation is thus an excellent model for maximising the ownership utility of high-value assets. Ownership of the asset is split into multiple parts, each represented by a token. This new method of fractionalised ownership allows for cheap, secure and accessible part-ownership in an asset whose value would otherwise be out of reach for the majority.
3 Tiers of Ownership
The coin set will be divided into 3 tiers, each with different equity ratios and benefits.
Bronze Tier
- 0.02% equity within the coin set
- 1200 editions
- $200 per edition
- Exclusive access to Discord
Silver Tier
- 0.2% equity within the coin set
- 300 editions
- $2800 per edition
- Exclusive access to Discord
- In-person viewing of the coin set
Gold Tier
- 1% equity within the coin set
- 10 editions
- $1200 per edition
- Exclusive access to Discord
- In-person viewing of the coin set
- ½ Krugerrand in the holder’s name
- Delivery to the token holder if located in South Africa
Why Purchase a Scoin NFT?
By purchasing this NFT, you’re acquiring part of a rare and storied asset. The NFT represents an equity share in the actual coin set, meaning that as the coin set appreciates in value, so will the NFT in your wallet.
ZAR coins have proven to be an impressive store of value over their nearly 150-year existence, not only because they're made of gold but because of the history in which they were made - a worthwhile asset to own in a time when the global economy is poised for recession.
Through owning a Scoin NFT, you’re claiming your part in South Africa’s rich history, as well as joining a movement of securing ownership of physical assets with the power of blockchain and NFT technology.
Token are available for purchase here.
Coins just went digital.
