The average Ghanaian needs GHS 25,102 to own a Bank of Ghana gold coin

As of January 20, 2025, the average Ghanaian would need approximately GHS 25,102 to own a Bank of Ghana Gold Coin. The coins are available in three denominations: 0.25oz, 0.50oz, and 1oz, priced at GHS 11,248, GHS 21,623, and GHS 42,435, respectively, based on an exchange rate of $1 to GHS 14.95.

The prices are influenced by global gold prices, which stood at $2,715 per ounce on the London Bullion Market Association (LBMA), and the Cedi-to-dollar exchange rate.

The Bank of Ghana's gold initiative aims to absorb market liquidity, strengthen the Cedi, and offer an alternative investment option. However, the high price makes it challenging for the average Ghanaian to view it as a viable investment option.