Bills With Intrinsic Value? - Republic of Ghana One Cedi

avatar

In my previous post, I shared some Nevada Goldbacks I had purchased from APMEX. From that I decided it was a nifty way to accumulate some gold, and that I had to seek out some more. My latest find did not disappoint.

I saw this bill on APMEX, and I knew I had to have it. I love Africa, having lived there for a few years, though I've never been to Ghana. Even so, the design still gives me some nostalgia. Ghana is absolutely on my bucket list of places to visit, even more so now.

Made of 1/1000 of an ounce of gold, this bill was declared legal tender in the Republic of Ghana. The exchange rate for one Cedi is about 17 cents. This leads me to question how much purchasing power this gold bill would legally have. One Cedi, or its gold value. Ghana is a poor country, but I can't imagine 17 cents going very far there.


IMG_20210204_163553.jpgIMG_20210204_163640.jpg

Unlike the previous Goldbacks I had purchased, this bill has beautiful designs on both the front and back. The bill had a little curve to it, which allowed me to take much better photos. It's definitely a welcome new addition to my stack, and fairly unique as well.


Image 8.jpg

This is also the first bill that came with its own Certificate Of Authenticity. I didn't realize when I bought it that production was limited to 10,000 units.

Thanks for reading. What do you think of this note?

Posted Using LeoFinance Beta



0
0
0.000
16 comments
avatar

A very interesting subject ...

Greetings Michael

!invest_vote
!jeenger

0
0
0.000
avatar

These type of stuff are usually more like collector's item, no?

0
0
0.000
avatar

With the premium you pay, I'd say that's accurate. That being said, if push comes to shove it contains gold that you could probably extract by burning the note away.

0
0
0.000
avatar

You're right, this looks amazing. Interesting that thought this is in the form of a banknote, it is technically a coin, or a note shaped coin. Dramatic Coat of arms.
With a 1/1000 T oz, sounds like it is made similar to Goldbacks with applying the gold film upon a flexible substrate whereas the Royal Mints saga of Treasure ships and Pirates are gold-plated solid Silver.

Thanks for sharing @joshman

Posted Using LeoFinance Beta

0
0
0.000
avatar

Note shaped coin? Interesting concept.

I'd like to get one of those Treasure Ships ones as well...

0
0
0.000
avatar

The Goldback solves a 2,600 year old problem in that gold can be spent in small, interchangeable increments.

Good to know something new - So you can spend only in Ghana ?

0
0
0.000
avatar

It's legal tender in Ghana, but anywhere else it has pure gold in it.

0
0
0.000