Ghana Gold Coin: You must have savings of GH¢10,000 – BoG reveals minimum price

An advisor at the Bank of Ghana, Dr. Steve Opata has asked persons interested in investing in Ghana’s Gold Coins to ready a minimum of GH¢10,000.

According to Dr. Opata, the coins set to be available to the public through the commercial banks are expected to trade from around GH¢10,000.

“So initially, obviously if you want to buy the quarter-ounce coin, you must have savings of GH¢10,000 minimum; you must have that. So if you don’t have that, then you would not be able to do that (invest),” he stated during an appearance on Metro TV’s Bottomline program on Monday, September 30, 2024.

The Bank of Ghana (BoG) last week announced the introduction of the Ghana Gold Coin as part of efforts to provide alternative investment options for Ghanaians.

The coins, scheduled to be available in different sizes, form part of the central bank's Responsible Gold Sourcing Policy Framework.

According to Dr. Opata, the central bank aims to increase inclusivity along the way with the introduction of the coins.

“Like I said, if we are able to tokenize this, that’s the next stage that will become very interesting, then we will have more inclusion. So the next stage is going to be interesting. We want to go into this project in phases, and as we gauge the success and roll this out, we will see that more people will be included. We will even get to the point where Ghanaians should be able to buy this using their mobile money account,” he stated.

According to the Governor of the Bank of Ghana, Dr. Ernest Addison, the 'Ghana Gold Coin,' manufactured from dory gold, has been refined to 99.99% purity, issued, and guaranteed by the central bank.

The BoG Governor, speaking at a press conference last week, mentioned that the introduction of the gold coins is expected to help ease pressure on the local currency while serving as an investment option for individuals who often purchase dollars and hoard them.

GA/KA