The commemorative gold coins are not legal tender
The limited issuance of the Otumfuo Commemorative Gold Coins will be a life-long project that not only stands as a legacy for the Asantehene Otumfuo Osei Tutu II, but also serves as a vehicle to project the country’s cultural heritage, the organisers have said.
Yesterday, the organisers gave details of the coins’ significance, explaining that the intended Cultural Resource Centre – which will be established in Kumasi with proceeds from sales of the coins – will stand out as a national heritage for the benefit of generations yet unborn.
“The Centre will employ the latest technologies and Information Technology (IT) platforms to promote activities related to traditional and customary conflict resolution in Ghana, as well as other peace initiatives,” E ON 3 Group – an Accra-based business solutions provider, that organised the gold coins’ launch in collaboration with the Precious Minerals Marketing Company (PMMC), Access Bank and the Manhyia Palace – said in a statement.
The Gold Coast Refinery Limited minted the commemorative gold coins upon authorisation by the Bank of Ghana (BoG).
Reasons
The central bank has also given reasons for the authorisation it gave to mint the coins to celebrate the Asantehene.
“In recognition of the invaluable role and your remarkable achievements in the preservation of peace in the safeguarding of life, the development of Ghana and ensuring peaceful coexistence of the citizenry of Ghana, the Bank of Ghana proudly associates itself with the launch of this commemorative gold coin to climax your Majesty’s 20th year as the Asantehene,” Dr. Addison remarked.
He further explained: “The Bank approved the issuance of a commemorative coin and offered to assist in procuring the coin through appropriate channels. The gold coin will be of no monetary value. By that we mean it will not be a medium of exchange, and not exactly a legal tender”.
More than 600 dignitaries, including the Vice-President Dr. Mahamudu Bawumia and his wife Mrs. Bawumia, attended the event.
Features
The gold coins are of 99.99 percent assay at 24 carat fine gold, with a diameter of 37mm and weight of 31.104 grammes each.
“The face of the gold coins bear the image of the Asantehene with the Adinkra symbols ‘Bi Nka Bi’ and ‘Mpatapo’, which symbolise peace, harmony and reconciliation.
“The reverse bear an image of the Golden Stool (Sika Dwa),” a statement from the organisers said.