In a move aimed at diversifying investment opportunities for Ghanaians and boosting the country’s gold sector, the Bank of Ghana (BoG) has officially launched its long-awaited Gold Coin. The newly introduced gold coin, which is now available for purchase, is set to become a significant part of the country’s efforts to develop a gold-backed economy and increase national savings. The coins are priced between GH¢11,188 and GH¢45,020, depending on the weight and purity of the coin, offering a range of options for investors and collectors alike.
A Step Towards Economic Diversification
The BoG Gold Coin is part of the central bank's broader strategy to promote gold as a store of value and a viable alternative investment option for the Ghanaian public. Ghana is one of the largest gold producers in Africa, and the introduction of the gold coin is seen as a way to harness the country’s rich gold resources for the benefit of its people. The Bank of Ghana has been pushing for the development of a gold-backed economy, with the aim of leveraging gold to stabilize the cedi and reduce the country’s dependence on foreign currencies.
Dr. Ernest Addison, Governor of the Bank of Ghana, highlighted the coin’s role in supporting the country’s fiscal and monetary policy. "This initiative aligns with our efforts to promote gold as a valuable asset for Ghanaians and to create an additional layer of financial security for the public," Dr. Addison said during the official launch. The gold coin is expected to help stabilize the cedi, boost savings, and attract investment into the country's gold sector.
Coin Details and Pricing
The BoG Gold Coin is available in various denominations, with prices ranging from GH¢11,188 for a 1/4 ounce coin to GH¢45,020 for a 1-ounce coin. The price variation is dependent on the weight and purity of the coin, with the gold coins produced to high international standards, including 22-carat purity.
1/4 ounce coin: Priced at GH¢11,188, this smaller denomination makes the gold coin more accessible to the general public, offering a lower-cost entry point for those looking to invest in gold.
1/2 ounce coin: Priced at GH¢22,376, this mid-range option provides a balance between affordability and value for those looking to purchase a larger quantity of gold.
1-ounce coin: At GH¢45,020, this coin represents the highest value denomination and is targeted at serious investors looking to make a more substantial investment in gold.
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