BoG unveils Ghana Gold Coin pricing guidelines, offering unique investment opportunity

The Bank of Ghana has officially announced the pricing guidelines for the Ghana Gold Coin (GGC), providing Ghanaians with a distinctive chance to invest in high-purity precious metals.

The Ghana Gold Coin, guaranteed by the central bank, is available in one-ounce, half-ounce, and quarter-ounce denominations. Made from refined gold with a purity of 99.99%, the coins showcase the natural gold colour and iconic national symbols.

One side bears the Ghana Coat of Arms, while the reverse features the Independence Arch, representing the country’s heritage and resilience.

The dimensions of the coins vary by weight: the one-ounce coin measures 34mm, the half-ounce is 27mm, and the quarter-ounce is 22mm.

The Bank of Ghana has pegged the coin prices to the London Bullion Marketing Association (LBMA) Auction PM Price and the Bloomberg REGN Mid-Rate from the previous day’s close. On November 26, prices were set at GH₵45,020 for one ounce, GH₵22,409 for half an ounce, and GH₵11,188 for a quarter ounce. These prices are subject to daily adjustments in line with global gold rates. For instance, today’s prices are slightly lower, at GH₵42,717.75 for one ounce, GH₵21,761.29 for half an ounce, and GH₵11,314.74 for a quarter ounce.

The Ghana Gold Coin can only be purchased within Ghana using the cedi. Buyers must transact through commercial banks and open gold accounts with the Bank of Ghana for facilitation. Banks may charge a standard transaction fee for resales, which covers value-added costs and the coin’s wooden storage box.

This initiative is part of the Bank of Ghana’s domestic gold purchase program aimed at strengthening the national economy. Governor Dr. Ernest Addison highlighted its benefits, stating, “The issuance of the GGC democratises access to this enduring financial asset, enabling residents to diversify their financial portfolios.” The coin also aids in absorbing excess cedi liquidity in the banking system, complementing tools like the Bank of Ghana Bills in open market operations.

The introduction of the Ghana Gold Coin offers a stable and globally valued investment option while promoting local gold usage. This aligns with the Bank of Ghana’s mission to make gold investments accessible to more Ghanaians.

Potential investors are encouraged to contact their banks or visit the Bank of Ghana’s website.