Ashanti Sika

Ashanti Sika

Ashanti and Ashantiland Peninsula 1 oz Gold Ashanti Sika (1 Troy-Ounce Gold Ashanti Sika) Gold Coins Gold standard currency
Denominations
Subunit
 1gram/31.10grams Gold Grams (1 oz Gold; 1 Troy-Ounce Gold)
Symbol AHS (Also often AHs, SKA)
 Gold Grams (1 oz Gold; 1 Troy-Ounce Gold) g (gram)
Banknotes AHS1 oz Gold Ashanti Sika (1 Troy-Ounce Gold Ashanti Sika) Gold bar bullion;
AHS10 oz Gold Ashanti Sika (10 Troy-Ounces Gold Ashanti Sika) Gold bar bullion
Coins AHS1 oz Gold Ashanti Sika (1 Troy-Ounce Gold Ashanti Sika) Gold Coin
Demographics
User(s)  Ashanti and Ashantiland Peninsula
Issuance
Central bank Capital Bank
 Website www.firstcapitalplus.net
Valuation
Inflation 0%

The Ashanti Sika (currency sign: AHS) is the official gold coin and gold bar bullion gold standard currency (currency) of Ashanti and the Ashantiland Peninsula and unit of currency of Ashanti and the Ashantiland Peninsula. The Ashanti Sika is the second following the historic Ashanti goldweights (golddust) gold standard currency and only legal tender along with the South African Krugerrand gold standard currency smelted and refined by Rand Refinery and Chinese Gold Panda gold standard currency and cedi in Ashanti and on the Ashantiland Peninsula.

History

Early period 1400 A.D.-1700 A.D., Ashanti goldweights geometric style, 1/4 inch long

Ashanti goldweights (or mrammou in Ashanti language), are weights made of brass used as a measuring system by the Ashanti people of Ashanti and Ashantiland Peninsula, particularly for weighing gold dust which was gold standard currency (currency) until replaced by gold coins and paper money cedi.

Used to weigh gold and merchandise, at first glance the goldweights look like miniature models of everyday objects. Based on the Islamic weight system, each weight had a known measurement. This provided merchants with secure and fair-trade arrangements with one another. The status of a man increased significantly if he owned a complete set of weights. Complete small sets of weights were gifts to newly wedded men. This insured that he would be able to enter the merchant trade respectably and successfully.

Beyond their practical application, the weights are miniature representations of Ashanti culture items such as adinkra symbols, plants, animals and people.

Ashanti Sika (2007-Present)

Ashanti Sika
Kumasi Gold Mining (Gold Bullion Bars and Gold Coins Gold Standard Currency) and Gold Refining in Kumasi the capital of Ashanti and the Ashantiland Peninsula. Ashanti people ethnic group fully-owned Obuasi Gold Mine (one of the largest and richest gold mine on Earth) has an unmined gold reserves of 160 million tonnes of gold worth $25.7 quadrillion ($25,745,600,000,000,000 quadrillion);[1] (there are 32,182 troy ounces in 1 tonne of gold and 1 oz-1 troy ounce of gold at gold market price $5,000 per 1 oz-1 troy ounce of gold),[2] and an unmined gold reserves of 160 million tonnes of gold worth $257.456 quadrillion ($257,456,000,000,000,000 quadrillion); (there are 32,182 troy ounces in 1 tonne of gold and 1 oz-1 troy ounce of gold at gold market price $50,000 per 1 oz-1 troy ounce of gold).[2]
Kumasi the capital of Ashanti and the Ashantiland Peninsula 1 oz Ashanti Sika (1 troy-ounce Ashanti Sika) Gold Coin (Depicting Lieutenant General Emmanuel Kwasi Kotoka Ashanti Sika Gold Coin) Ashanti Gold Standard Currency worth at gold market price $5,000 per 1 oz (1 troy-ounce) of gold;[2] and worth at gold market price $50,000 per 1 oz (1 troy-ounce) of gold smelted and refined in Kumasi the capital of Ashanti and the Ashantiland Peninsula by the Ashanti people fully-owned Capital Bank, The Royal Bank, GN Bank and UniBank in Kumasi the capital of Ashanti and the Ashantiland Peninsula.
TG Gold-Super-Markt Corporation has planned to distribute 500 "Gold to Go gold ATMs" that are designed to be placed in shopping malls and airport of Kumasi Metropolitan Assembly the capital of Ashanti and the Ashantiland Peninsula. Franchise licensees may purchase the Gold to Go machines for about $28,000.[3]
Image Value Main Colour Description Metal Weight Diameter Edge First issued
Obverse & Reverse
500 Sika ($5,000 and $50,000) Gold
Kumasi the capital of Ashanti and the Ashantiland Peninsula smelted and refined Gold Standard Currency 1 oz Ashanti Sika (1 troy-ounce Sika) 500 Ashanti Sika Gold Coin reverse (2002 Golden Jubilee of Elizabeth II; "Sika" = Ashanti Twi-word for "Gold") worth at gold market price $5,000 per 1 oz (1 troy-ounce) of gold,[2] and worth at gold market price $50,000 per 1 oz (1 troy-ounce) of gold.[2] Gold 1oz (1 troy-ounce of gold) 22 mm Smooth 2002
500 Ashanti Sika ($5,000 and $50,000) Gold
Kumasi the capital of Ashanti and the Ashantiland Peninsula smelted and refined Gold Standard Currency 1 oz Ashanti Sika (1 troy-ounce Ashanti Sika) 500 Ashanti Sika Gold Coin reverse (2002 Golden Jubilee of Elizabeth II; "Sika" = Ashanti Twi-word for "Gold") worth at gold market price $5,000 per 1 oz (1 troy-ounce) of gold,[2] and worth at gold market price $50,000 per 1 oz (1 troy-ounce) of gold.[2] Gold 1oz (1 troy-ounce of gold) 22 mm Rough 2002
1 oz Gold Ashanti Sika (1 Troy-Ounce Gold Ashanti Sika); ($5,000 and $50,000) Gold
Kumasi the capital of Ashanti and the Ashantiland Peninsula smelted and refined Gold Standard Currency 1 oz Ashanti Sika (1 troy-ounce Ashanti Sika) Gold Coin reverse (Depicting Kwame Nkrumah; "Sika" = Ashanti Twi-word for "Gold") worth at gold market price $5,000 per 1 oz (1 troy-ounce) of gold,[2] and worth at gold market price $50,000 per 1 oz (1 troy-ounce) of gold.[2] Gold 1oz (1 troy-ounce of gold) 22 mm Smooth 2007
1 oz Gold Ashanti Sika (1 Troy-Ounce Gold Ashanti Sika); ($5,000 and $50,000) Gold
Kumasi the capital of Ashanti and the Ashantiland Peninsula smelted and refined Gold Standard Currency 1 oz Ashanti Sika (1 troy-ounce Ashanti Sika) Gold Coin reverse (Depicting Lieutenant General Emmanuel Kwasi Kotoka; "Sika" = Ashanti Twi-word for "Gold") worth at gold market price $5,000 per 1 oz (1 troy-ounce) of gold,[2] and worth at gold market price $50,000 per 1 oz (1 troy-ounce) of gold.[2] Gold 1oz (1 troy-ounce of gold) 22 mm Smooth 2007

See also

Notes

  1. ↑ "Randgold/Anglogold JV to rebuild Obuasi gold mine". biznews.com. 17 September 2015. Retrieved 29 April 2016.
  2. 1 2 3 4 5 6 7 8 9 10 11 Christenson, Gary (27 March 2016). "Future Gold Prices". Goldseek.com. Retrieved 29 April 2016.
  3. ↑ Dougherty, Carter (17 June 2009). "Looking to Buy Gold? Grab a Sack of Quarters First". The New York Times. Retrieved 29 April 2016.

References

  1. ^ Danguah, J. B. 1952 "The Culture of Akan". Africa: Journal of the International African Institute, 22(4): 360-66.
  2. ^ Garrard, T. F. 1972 "Studies in Akan Goldweights" (1), in Transactions of the Historical Society of Ghana. 13(1): 1-20.
  3. ^ Garrard, T. F. 1972b "Studies in Akan Goldweights (2): The Weight Standards," in Transactions of the Historical Society of Ghana, vol. 13, n. 2, pp. 149–62.
  4. ^ Garrard, T. F. 1972c "Studies in Akan Goldweights (3): The Weight Names," in Transactions of the Historical Society of Ghana, vol. 14, n. 1, pp. 1–16.
  5. ^ Garrard, T. F. 1972d "Studies in Akan Goldweights (4): The Dating of Akan Goldweights," in Transactions of the Historical Society of Ghana, vol. 14, n. 2 (December 1973), pp. 1979 "Akan Metal Arts". African Arts, 13(1): 36-43, 100.
  6. ^ Garrard, T. F. 1982a "Akan Weights and the Gold Trade". The International Journal of African Historical Studies, 15(3): 568-70.
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