Ghana-Gold-Coin

Fun Facts About The Ghana Gold Coin

The Bank of Ghana has launched the Ghana Gold Coin (GGC). If you are wondering what all the fuss is about, well let me break it down to you.

1. The Ghana Gold Coin is a coin manufactured from dore gold that has been refined to 99.99% purity which gives the coin the original gold colour.

    2. The Ghana Gold Coin is issued and guaranteed by the Bank of Ghana and is available in three different sizes: namely:

    • 1 oz Coin
    • 1/2 oz Coin
    • 1/4 oz Coin, to suit different investment needs.

    3. If you want to get your hands a GGC, you will need a minimum of GH¢10,000 to make a purchase. 

    4. To know if a Ghana Gold Coin is legit, you need to spot these key features:

    • Each coin has the Ghana Coat of Arms in front and the Independence Arch at the back.
    • The packing includes the gold coin, a wooden storage box, a transparent coin holder and a certificate of ownership

    5. According to the Bank of Ghana (BOG), issuance of the Ghana Gold Coins enables the BOG to mop up extra cedi liquidity in the banking sector and will supplement the use of the Bank of Ghana Bills and overnight depo for our open market operations.

    6. The GGC gives savers resident in Ghana an additional avenue to invest and reap the benefits from the Bank of Ghana’s domestic gold purchase program.

    7.Would you like to buy a Ghana Gold Coin? For now, the GGC can only be purchased in Ghana through a commercial bank using the Ghana Cedi, and the basis for pricing will be the previous day London Bullion Marketing Association (LBMA) Auction PM Price.

    8. The applicable transaction exchange rate for pricing of the Ghana Gold Coin shall be the United States Dollar against Ghana Cedi rate quoted using the previous day close Bloomberg REGN Mid-Rate. The price of the GGC will be published on the Bank of Ghana website daily by 9:00am GMT and applicable charges will apply.

    9. A holder of a GGC can sell the coin to a commercial bank, the Bank of Ghana stands ready to buy and resell in situations where a commercial bank is not able to purchase a coin.

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