You are here
Ghana central bank launches gold coin to boost savings
By Ekow Dontoh
Bloomberg News
Friday, September 27, 2024
Ghana has launched a new gold coin to help it manage money-market liquidity while boosting domestic savings.
The coin, made from gold mined in Ghana, Africa's biggest producer of the metal, has been refined to 99.99% purity, Bank of Ghana Governor Ernest Addison today told reporters in the capital, Accra. Issued and guaranteed by the central bank, the coin comes in three sizes -- 1 ounce, half ounce, quarter ounce, he said.
... Dispatch continues below ...
... ADVERTISEMENT ...
The Gold Tree of Life in the popular 1-ounce format, along with the Gold Tree of Life 0.1-ounce
and the Silver Tree of Life 1-ounce,
are now available from Tara Coins directly
and from authorized distributors
in the United States and worldwide
The Gold Tree of Life in the popular 1-ounce format, along with the Gold Tree of Life 0.1-ounce and the Silver Tree of Life 1-ounce, are now available from Tara Coins directly or from authorized distributors in the United States and worldwide.
The Gold and Silver Trees of Life are the first 99.99% Irish bullion rounds and are truly sovereign (non-legal tender) coins. They are beautiful and limited in mintage and supply, making them highly desirable as gifts, collectible coins, and -- most importantly -- as stores of value.
Tara Coins is a designer, wholesaler, and retailer of Irish bullion products, selling beautiful, collectible, store-of-value, 99.99% pure Irish silver and gold bullion.
GATA supporter Money Metals Exchange is now one of Tara Coins' leading distributors in the U.S. and is selling all the Gold and Silver Trees of Life coins for delivery or storage at its vault in Idaho.
For more information about Tara Coins' Gold and Silver Trees of Life, including minimum order sizes and premiums to purchase them, please contact us at info@taracoins.com or visit us at https://www.taracoins.com/.
"The Ghana gold coin enables the Bank of Ghana to mop up excess liquidity in the banking sector and will supplement the bank's bills for liquidity management," Addison said. "It gives those resident in Ghana an additional avenue to invest to reap the benefits of the Bank of Ghana's domestic gold-purchase program."
The coins will be available in the next two weeks through commercial banks to be bought in cedis and priced on the basis of London Bullion Market Association auction price, he said, adding that the gold complies with the central bank's responsible gold sourcing rules.
The central bank has bought 65.4 tons of gold valued at roughly $5 billion since it started a domestic gold purchase program in June 2021 to augment foreign reserves and increase gold holdings, as well as implementing a so-called gold-for-oil program, Addison said last month.
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.com/powellgata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
