The New Gold Coin for Ghana (GGC): Value, Benefits, and How to Buy

The GGC provides investors with an alternative to traditional assets like government bonds and treasury bills, while helping the Bank of Ghana regulate liquidity in the financial system. Each coin represents not just wealth, but a symbol of Ghana’s economic independence and responsible resource management.

What is a Gold Coin?

A “gold coin” is fundamentally a coin manufactured primarily from refined gold. Bank of Ghana
Gold coins fall into two broad categories:

• Bullion coins – made from refined gold, typically guaranteed by a government or its mint; their value is linked chiefly to the gold content.
• Numismatic coins – collector’s items whose value depends not just on gold content but rarity, condition, design and historical interest.

In short: a gold coin is both a physical metal asset and, depending on category, potentially a collectible.

What are the Types of Gold Coins?

Expanding on the categories:

• Bullion coins: designed for investment/having intrinsic metal value. Example global bullion coins: South African Gold Krugerrand, Canadian Maple Leaf, American Gold Eagle American Gold Buffalo, Australian Kangaroo. Bank of Ghana
• Numismatic/collector coins: limited mintage, special designs, older mintings, condition matters. Also there is a hybrid zone: bullion coins with special versions (proof-quality, limited run).
• One could also break them down by function: investment coins (for buying/holding), hedge coins (for protection/asset diversification), collectible coins (for numismatists).
• Another dimension: legal tender status (some bullion coins are legal tender, some not) and domestic vs international distribution.

Responsible Mining and ESG Compliance

The gold used to mint the Ghana Gold Coin is sourced from responsibly mined deposits within Ghana. The BoG’s Responsible Gold Sourcing Framework ensures that all gold meets strict Environmental, Social, and Governance (ESG) standards.

This includes:

• Traceability of gold from mine to mint
• Sustainable mining practices that reduce environmental damage
• Fair labor standards and community development initiatives

By aligning with global ESG benchmarks, the GGC demonstrates Ghana’s commitment to ethical resource extraction and responsible production.

Key Features of the Ghana Gold Coin (GGC)

The GGC is crafted from 99.99% pure gold and comes in three denominations:

• 1 oz
• ½ oz
• ¼ oz

Each coin bears Ghana’s Coat of Arms on one side and the Independence Arch on the reverse, symbolizing national unity and pride.

Every coin is packaged in a polished wooden case, accompanied by a transparent holder and a Certificate of Authenticity and Ownership — verifying its legitimacy and ensuring protection for investors.

Economic Benefits of the GGC

The introduction of the Ghana Gold Coin carries multiple benefits:

For Individuals

• Offers a tangible, inflation-resistant asset
• Provides an accessible form of wealth preservation
• Can serve as collateral for loans
• Diversifies personal investment portfolios

For the Economy

• Encourages domestic investment in gold rather than exports
• Reduces pressure on foreign exchange reserves
• Enhances financial inclusion by making gold investments available locally
• Supports Ghana’s local mining and refining industries

Together, these benefits help deepen the country’s financial markets while promoting sustainable economic growth.

Is the GGC a Derivative Product?

No — the Ghana Gold Coin is not a derivative.
It is a physical, asset-backed investment directly tied to the real value of gold. Unlike derivatives, which derive their worth from underlying assets through contracts or futures, the GGC represents direct ownership of physical gold.

However, the BoG may in the future consider introducing derivative or exchange-traded products linked to the GGC for institutional trading.

How to Buy the Ghana Gold Coin (GGC)

1. Visit a participating commercial bank — Only residents of Ghana can buy the coin, and purchases must be made in Ghana Cedis (GHS).
2. Verify the daily price — Pricing is published daily by the Bank of Ghana using the London Bullion Market Association (LBMA) PM Auction Price and the previous day’s USD/GHS Bloomberg Mid-Rate.
3. Complete your KYC (Know Your Customer) verification — Bring valid ID and complete the required documentation.
4. Make payment — The bank will process your payment and issue a Certificate of Ownership with your coin.

The daily GGC price is available on the Bank of Ghana’s official website by 9:00 AM GMT.

How to Sell or Redeem the GGC

• Sell through any commercial bank: Banks will repurchase GGCs from holders at the prevailing market rate.
• Direct buy-back by the BoG: If banks cannot buy back, the Bank of Ghana provides liquidity through direct purchase.
• Private resale: Investors may also sell to third parties or bullion brokers, provided transactions comply with AML/CFT regulations and records are kept.

Fees and Associated Costs

• Purchase Fees: Most banks charge a small administrative or handling fee, disclosed before purchase.
• Storage Fees: If coins are held in bank custody or safety deposit boxes, storage charges may apply.
• Resale Fees: Reselling to third parties may involve brokerage or authentication fees, depending on the platform or buyer.

Taxes and Regulatory Considerations

Currently, the GGC is:

• Exempt from Value Added Tax (VAT)
• Not subject to capital gains tax

However, investors should note that tax laws can evolve. The Ghana Revenue Authority (GRA) may in future introduce taxes on profits or transfers. Investors are therefore advised to consult a tax advisor before engaging in large-scale gold investments.

How to Verify the Authenticity of the GGC

1. Check the Certificate of Ownership: Every genuine GGC comes with a unique serial number and hologram seal.
2. Inspect Design Details: Genuine coins feature sharp, clear engravings of the Coat of Arms and Independence Arch.
3. Confirm with the Issuing Bank: Banks maintain verification records of all issued coins.
4. Use Professional Verification: Reputable jewelers or bullion experts can test for purity and authenticity.
5. Alternative magnet test: Gold is non-magnetic. If the coin is attracted to a magnet it is not genuine.
6. Use the “VERISCAN – Bullion Security” app: The GGC includes Veriscan technology for verifying its authenticity (currently iOS version; Android coming).
7. Avoid Unverified Dealers: Only purchase from authorized commercial banks or officially approved vendors.

Always perform verification before resale, and retain purchase receipt/certificate.

Legal Risks and Safe Custody

Owning physical gold carries the responsibility of secure storage.
Investors are encouraged to:

• Use bank vaults or safety deposit boxes
• Obtain insurance coverage against loss or theft
• Keep purchase receipts and ownership certificates for verification and resale

Conclusion

The Ghana Gold Coin (GGC) represents a timely and well-designed addition to Ghana’s investment landscape. With high purity (99.99%), multiple size options, responsible sourcing from Ghanaian mines, and central bank backing, it presents a physical gold asset tailored for local investors. Its economic role extends beyond the individual: by absorbing excess liquidity and linking Ghana’s gold value chain, it supports broader macro-financial stability.

However, prospective investors should remain aware that its domestic value is influenced not only by global gold prices but by the strength/weakness of the Ghana Cedi and the USD/GHS exchange rate. As with all bullion investments, storage/security, liquidity, fees and authenticity verification must be carefully managed.

In short: if you are a Ghana resident looking for a gold-backed investment, the GGC offers a compelling option — but treat it with the same diligence you would any physical metal investment. Understand the mechanics, pricing model, and how it fits into your broader portfolio. With this knowledge, you can decide whether the GGC is the “new gold coin” for your investment strategy — and for Ghana’s growing bullion market.

FAQ