Bank Of Ghana Upgrades GH¢1 Coin

Source The Ghana Report

The Bank of Ghana (BoG) has enhanced the one Ghana cedi coin with new security features.

In a statement by BoG dated November 6, 2022, the newly minted GH¢1 coin will be issued into circulation from Monday, December 12, 2022.

According to the statement, the coin is similar to the existing GH¢1 coin in shape, form, and image.

The Coat of Arms is in front and the Scale of Justice is at the back.

Further describing the new features, BoG said “the upgraded GH¢1 coin is bi-metallic with an outer gold and inner silver.”

“The coin has a pronounced rough edge and incorporates a latent image, which appears in a rectangular form below the Scale of Justice at the back. The latent image changes from a radiating star to a One Ghana cedi symbol sandwiched between two stars when tilted,” the statement added.

The statement explained that the existing coins and the upgraded ones will be in circulation simultaneously until the former is gradually withdrawn.

In September 2021, the Bank of Ghana announced that it was working to phase out the one Ghana cedi and the two Ghana cedi notes from circulation.

The Governor of BoG, Dr Ernest Addison, said that the notes will ultimately be replaced by their coin versions, which were co-circulating.

He said the decision was needed to improve the bank’s cost of currency management.

The BOG, which is the bank of the government, regulates the printing and circulation of currency in the country.

The existing Ghana cedi coin was introduced in July 2007 as part of the redenomination of the cedi.

Below is the statement from the Bank of Ghana

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