December 6, 2022

BoG Upgrades Security Features Of GH₵1 Coin

The Central Bank of Ghana has enhanced the security features of the GH₵1 coin.

This was announced by the BoG in a statement on Tuesday, December 6, 2022.

The new coin, the Bank said, is similar to the existing GH₵1 coin in shape, form and images with the Coat of Arms in front and the Scale of Justice at the back.

The BoG notes that the upgraded GH₵1 coin will be issued for circulation from Monday, December 12, 2022.

“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 The existing and the upgraded GH₵1 coins will co-circulate until the existing coin is gradually withdrawn.”

The coin has a diameter of 26.00mm with a weight of 8.23g, is round in shape and has a serrated edge.

The Bank has urged the public to accept the coins and use them.

This comes as the GH₵1 and GH₵2 notes are being phased out the market.

In 2021, the BoG announced plans to cease circulation of the 1 and 2 Ghana Cedi notes, whereas their coin versions remain in circulation and in use.

The Bank cited the high cost of replacing defaced notes.

Source: Fuseini

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