Audio By Carbonatix
People who once destroyed or threw away their old currency, should now begin to relish the notes and coins because traders in the business of buying and selling antique currencies are putting value on them.
These traders sell money as old as the one penny coin (kapre) dated 1952, used during the British colonial era. The 10-cedi note of 1973, 10 cedis (1978); 50 cedis (1979); 50 cedis (1980); five cedis (1982) as well as the recent 500, 1000, 5000 and IO,OOO-cedi notes, which were used in the 1990’s.
In an interview with one of the traders, who pleaded anonymity, she disclosed that people brought their old currencies to her at a fee.
She said they did their transactions mostly with relatives of rich old people who had no use for the old notes and coins.
“We negotiate the prices based on how old the money is. The notes are sold to us at a higher price than the coins”, she explained.
“Old currencies like the 'Kapre' coin are bought for 50 Ghana pesewas, but the not so old ones like the 200 cedi coins go for five Ghana pesewas.
The notes are all sold to the dealers at 50 Ghana pesewas.
However, the dealers sold 'Kapre' coins to buyers at GH¢1.00 each, while the relatively new currencies went for 10 pesewas each. Generally, the sales price ranged from GH¢5.00 to one Ghana cedi based on the buyer's negotiation skills.
When this reporter asked whether the business had a huge patronage, the dealer laughed and said, "people buy them more than they even buy snacks. I have many customers. This job has become very lucrative.”
She said she could not even count the number of people who came to her everyday because they were many.
She said people, including foreigners sometimes bought old currencies to show to their friends and children the money used during a particular period in Ghana.
The seller pointed out that other buyers also bought the old notes to create albums that beautifully showcased the old currencies.
There was also an example of a teacher, who bought the old currencies for teaching purposes. According to another dealer (a gentleman), who also wanted to remain anonymous, people used the money for 'juju'.
He said some spiritualists demanded some of the old currencies for their rituals.
When the Bank of Ghana was contacted for comments on the money business, the Public Relations Officer, Ms Esi Hammond, told The Mirror on phone that the Bank had no idea about the business and that their security outfit would investigate the matter to enable the bank to respond appropriately to the development.
Source: The Mirror/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Livestream: Newsfile discusses AKSA energy deal, legal vacation and GoldBod losses
8 minutes -
Jason Arday: 10 things you may not know about British-born Ghanaian former Cambridge professor found dead at 41
2 hours -
KNUST partners with government to manufacture locally-made agricultural machines and smart traffic lights
3 hours -
Government to add constitutional referendum to 2027 District Assembly elections
3 hours -
Ambassador Nancy Sam meets South Africa’s Thanda to strengthen Africa tourism collaboration
4 hours -
Government disburses GH¢23.1 billion to clear road contractors’ arrears – Roads Minister
4 hours -
NPP Ashanti elections: 1,020 delegates to choose 11 regional executives
5 hours -
Galamsey: ‘Challenge is prosecution, not arrest’ — Lands Minister
6 hours -
Elliot Kabutey Tei outlines strategic blueprint to drive NPP victory in Tema East
6 hours -
MTN to build 80 new sites across the five regions of the north as part of a $1.1bn investment
7 hours -
The Polygamist’s creator says women see themselves reflected in her Netflix hit
8 hours -
UEW Hospital suspends OPD services over GAUA strike
8 hours -
Muzic Mensah selected for Boomplay’s inaugural ‘NEXT WAVE’ Programme
9 hours -
Prime Insight to tackle legal vacation controversy and $1million AKSA bribery case
9 hours -
Ghanaian evacuee from South Africa dies on arrival in Accra
10 hours