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60 Years of Ghana's Coinage: From Shillings to Cedis, New Cedis, and now Ghana Cedis

Category:  World Coins
Owner:  Harlan#2
Last Modified:  12/28/2019
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Slot: 1958 Proof Set: Half Penny
Origin/Country: GHANA
Design Description:
Item Description: Bronze 1/2P 1958 KM1
Grade: NGC PF 64 RB
Research: View Coin
Owner Comments
This Half Penny is one of seven coins in the Bank of Ghana's first Proof Set, PS1, issued in 1958. The set had a mintage of 6,431. I bought one of these sets in 2007, raw and in its original box, for $36.00. I am extremely pleased at how all seven coins graded out: 5 of the 7 (but not this half penny) are currently "top pop" or "none finer" at NGC. The previous owner(s) took great care of this set! Here's some background on the design of the 1958 coinage:

In March of 1957 the Gold Coast, a British colony in West Africa, achieved independence (the first Black African country colonized by Europeans to do so), and renamed itself Ghana. Kwame Nkrumah led the liberation movement, and became the nation's first President & Prime Minister. In 1958 Ghana issued its first national currency & coinage, based on the pound/shilling/pence system used by its old colonial master. Nkrumah's portrait is on the obverse of all 1958 coins, along with the legend "Civitatis Ghaniensis Conditor" - which identifies Nkrumah as the Founder of the State of Ghana. A large star dominates the reverse of the 1958 coinage, symbolic of Ghana's status as "the first Black Star to rise over Africa." (A black star is featured at the center of the national flag, and the country's national soccer team is known as the Black Stars.)
Slot: 1958 Proof Set: Penny
Origin/Country: GHANA
Design Description:
Item Description: Bronze PENNY 1958 KM2
Grade: NGC PF 64 RB
Research: View Coin
Owner Comments
This coin, like the others dated 1958 in my set, is part of the Proof Set I bought raw and in its original box. The obverse features some nice toning, plus a striking die crack. The photo shows this crack nicely. And if it's not a die crack (I'm not a trained grader) please tell me! BTW, this coin is one of two currently graded by NGC at PF64 Red, and there's none finer.
Slot: 1958 Proof Set: 3 Pence
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 3P 1958 KM3
Grade: NGC PF 65
Research: View Coin
Owner Comments
This coin, like the others dated 1958 in my set, is part of the Proof Set I bought raw and in its original box. The NGC census currently shows one other example of this 3 Pence coin at PF65, and none finer.
Slot: 1958 Proof Set: 6 Pence
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 6P 1958 KM4
Grade: NGC PF 67
Research: View Coin
Owner Comments
This coin, like the others dated 1958 in my set, is part of the Proof Set I bought raw and in its original box. It's currently Top Pop in NGC's census.
Slot: 1958 Proof Set: 1 Shilling
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 1S 1958 KM5
Grade: NGC PF 66
Research: View Coin
Owner Comments
This coin, like the others dated 1958 in my set, is part of the Proof Set I bought raw and in its original box. I remain amazed at how high this coin (and the others) graded out. Every time I look at these coins I marvel at how well they had been taken care of over the decades.
Slot: 1958 Proof Set: 2 Shillings
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 2S 1958 KM6
Grade: NGC PF 67
Research: View Coin
Owner Comments
This coin, like the others dated 1958 in my set, is part of the Proof Set I bought raw and in its original box. Its grade of PF67 makes it, for now, Top Pop in the NGC census.
Slot: 1958 Proof Set: 10 Shillings
Origin/Country: GHANA
Design Description:
Item Description: Silver S10S 1958 INDEPENDENCE OF GHANA KM7
Grade: NGC PF 66
Research: View Coin
Owner Comments
The silver 10 Shilling coin is the star of the Bank of Ghana's first Proof Set, which highlights Ghana's first national coinage. Around the edge of the coin is the phrase 6 MARCH 1957 - INDEPENDENCE OF GHANA. I think this coin may well have never been removed from the original box: while the obverse features some mottled toning, the reverse is pristine.

It's one of four graded by NGC at PF66, with none finer.
Slot: 1965: 5 Pesewas (5/100 of an original Cedi)
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 5P 1965 KM8
Grade: NGC MS 63
Research: View Coin
Owner Comments
In the wake of Ghana's 1965 currency reform, in July of that year Ghana issued four Cedi-based coins for circulation: 5, 10, 25, and 50 Pesewas. The design elements on these coins were essentially unchanged from the 1958 series. The Engraver of the series was the British sculptor and medalist Cecil W. Thomas [OBE; Fellow of the Royal British Society of Sculptors]. As a medalist he was regularly commissioned by the Royal Mint. His initials C.T. can be found on the obverse of this coin, at the base of Nkrumah's bust.

Over the past few months I've been able to purchase, raw, all four of these original (aka "First") Cedi coins. They are now certified, and exhibited in this set. Each is currently (as of 12-13-19) Top Pop in the NGC Census. Full information: the population of NGC-certified First Cedi coins is small indeed!
Slot: 1965: 10 Pesewas (1/10 of an original Cedi)
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 10P 1965 KM9
Grade: NGC MS 65
Research: View Coin
Slot: 1965: 25 Pesewas (1/4 of an original Cedi)
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 25P 1965 KM10
Grade: NGC MS 66
Research: View Coin
Slot: 1965: 50 Pesewas (1/2 of an original Cedi)
Origin/Country: GHANA
Design Description:
Item Description: Copper-Nickel 50P 1965 KM11
Grade: NGC MS 64
Research: View Coin
Slot: 1967 Proof Set: Half Pesewa
Origin/Country: Ghana
Design Description:
Item Description: Bronze 1/2P 1967 GHANA KM12
Grade: NGC PF 65 RD
Research: View Coin
Owner Comments
Kwame Nkrumah was deposed in a military coup in 1966. The new military government replaced the July 1965 coinage with the "New Cedi" in February of 1967, at the rate of 1 New Cedi = 1.2 original Cedis. Nkrumah's portrait was removed. The New Cedi, a.k.a. the Second Cedi, known simply as the Cedi by the mid-70's, remained in circulation until the currency reform of July 2007.

In 1967 the Bank of Ghana issued its second official Proof Set, which showcased six examples of the New Cedi series. Only 100 sets were issued. In 2011 I was lucky enough to purchase a complete set, raw and in its original box, for $99.95. NGC graded out the coins between PF64 and PF66. No other examples of these proofs were in the NGC Census when I first posted this set, and when I checked the PCGS census 5 of the 6 coins in this set are either "top pop" or "none finer." The previous owner(s) took great care of this set!

On the obverse of this coin is a set of traditional Adowa Drums. The main design element on the reverse is a star - just as on the 1958 coins.

The Half Pesewa shown here is part of the raw set I purchased in 2011. The PCGS census currently shows one example at PF64 Red, and none higher.
Slot: 1967 Proof Set: Pesewa
Origin/Country: Ghana
Design Description:
Item Description: Bronze PESEWA 1967 GHANA KM13
Grade: NGC PF 65 RD
Research: View Coin
Owner Comments
This Pesewa is equal to 1/100 of a New Cedi. For background on Ghana's switch to the New Cedi in 1967, see my comments on the 1967 Half Pesewa.

The design elements on this coin are the same as those on the Half Pesewa: A set of Adowa Drums is on the obverse, while a star - just as on the 1958 coins - is on the reverse.

The NGC census indicates no other examples have been graded. The PCGS census currently shows one example at PF64 Red, and none higher.


Slot: 1967 Proof Set: 2.5 Pesewas
Origin/Country: Ghana
Design Description:
Item Description: Copper-Nickel 2.5P 1967 GHANA KM14
Grade: NGC PF 64
Research: View Coin
Owner Comments
This coin is 2.5/100 of a New Cedi. For background on Ghana's switch to the New Cedi in 1967, see my comments on the 1967 Half Pesewa.

A cluster of cocoa pods is highlighted on the obverse, a nod to Ghana being a longtime major world producer of cocoa. The shield at the heart of the national Coat of Arms adorns the reverse.

The NGC census shows only one example graded higher, at PF66.
Slot: 1967 Proof Set: 5 Pesewas
Origin/Country:
Design Description:
Item Description: Copper-Nickel 5P 1967 GHANA KM15
Grade: NGC PF 66
Research: View Coin
Owner Comments
5 Pesewas = 1/20 of a New Cedi. For background on Ghana's switch to the New Cedi in 1967, see my comments on the 1967 Half Pesewa.

The obverse features a cluster of cocoa pods, a nod to Ghana being a longtime major world producer of cocoa. The shield at the heart of the national Coat of Arms adorns the reverse.

There are no other examples of this coin in the NGC Census. The PCGS Census shows one example at PF66CAM,and none higher.
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