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The Ghana 100 Cedis 1965 banknote, cataloged as Pick #9s in specimen format, is one of the most striking and significant examples of post-independence African currency. Issued as part of Ghana’s first fully decimalized monetary system, the note marked a bold economic and political shift, as the country transitioned from the British-influenced pound/shilling system to a uniquely Ghanaian unit—the cedi. The 100 Cedis note was the highest denomination of this landmark 1965 series, and as such, it symbolizes national ambition, authority, and modernization. The specimen designation indicates that this particular note was not issued for circulation, but instead was created for archival, reference, or presentation purposes. Graded UNC64 by PCGS, it retains excellent paper integrity, vivid coloring, and sharp design elements, marred only by minor handling evidence consistent with the grade.
The cedi was introduced in July 1965, replacing the Ghanaian pound at a rate of 2.4 cedis to 1 pound, and the 100 Cedis note was the most prestigious in this new series. This currency reform was part of President Kwame Nkrumah’s broader strategy to assert Ghana’s post-colonial sovereignty. By establishing a decimal-based national currency, Ghana aligned its monetary system with global standards while also distancing itself from the legacy of British colonial rule. The high denomination of 100 Cedis was rarely used by the general population in daily transactions, but it played an important role in banking, commerce, and government finance. Its issuance as a specimen further elevates its numismatic importance, as these notes were printed in limited numbers and distributed only to central banks, institutions, and security printers for internal use or demonstration.
The obverse of the 100 Cedis note features a bold and authoritative left-facing portrait of Kwame Nkrumah, Ghana’s first Prime Minister and President, wearing a traditional patterned kente cloth robe. The choice to depict Nkrumah in African attire rather than Western dress underscored his emphasis on African pride, identity, and autonomy. His portrait dominates the left side of the note and is rendered in fine intaglio, capturing expressive detail and texture. The background behind him is composed of rich red and orange guilloché patterns, enhancing both the visual impact and the security of the note. The words “BANK OF GHANA” appear prominently across the top, and the denomination “100 CEDIS” is displayed in large text near the center and corners.
This specimen issue includes the typical red diagonal “SPECIMEN” overprint across the obverse, and the serial numbers are either zeroed out or replaced with specimen indicators. In this UNC64 graded example, the note exhibits no folds or tears, full corner integrity, and clean margins. There may be faint evidence of light handling at the edges, which prevents a higher uncirculated grade, but overall, the note is vibrant and impeccably preserved. The paper remains bright and firm, with original embossing from the printing press still visible, and the inking is both rich and consistent throughout the design.
The reverse of the note is equally impressive, showcasing the State House (Flagstaff House), which served as Ghana’s official seat of government. This building, with its broad symmetrical architecture and palm-lined forecourt, became a symbol of Ghana’s administrative authority and modern nationhood. Its inclusion on the highest denomination note of the 1965 series reinforced the legitimacy of the new cedi currency and aligned state infrastructure with monetary stability. The depiction of the State House is framed by complex geometric patterns and guilloché borders, with the denomination “100 CEDIS” repeated clearly in each corner for easy recognition.
The reverse is printed in a complementary palette of violet, lilac, and reddish-brown, offering a visual harmony that matches the obverse without duplicating it. These rich hues elevate the note’s appearance and emphasize its importance. This specimen note retains full printing clarity on the reverse, and under magnification, the fine-line engraving of the building’s columns and façade reveals the precision and artistry typical of Thomas De La Rue’s work, the British printer contracted to produce this series. The visual balance of the reverse side complements the dignified portrait of Nkrumah on the obverse, creating a unified message of governance, independence, and aspiration.
Specimen banknotes such as this one were printed in limited runs, typically sent to other central banks, security agencies, or museums for study and reference. These notes often feature overprints, non-circulating serial numbers, and unique identifiers that prevent them from being confused with legal tender. As a result, specimens survive in better condition than regular issues, and are prized among collectors for their scarcity, clarity of design, and historical relevance. The Ghana 100 Cedis specimen is among the most desirable notes in the series, due to both its rarity and its representation of Ghana’s economic and political confidence during a critical period in African history.
The historical context in which this note was issued further amplifies its numismatic importance. In 1965, Ghana was positioning itself as a leading force in the Pan-African movement. Nkrumah’s policies emphasized industrialization, African unity, and rejection of neocolonial economic structures. By introducing a currency system divorced from colonial denominations, he aimed to reinforce this ideology through monetary reform. The 100 Cedis note, bearing his image and government architecture, became a canvas for communicating national pride, leadership, and institutional integrity. However, following the 1966 military coup that overthrew Nkrumah, these notes were quickly demonetized and replaced, making original specimens like this one rare survivors of a brief but transformative chapter in Ghana’s history.
Collectors and historians alike value this note for its symbolism, artistry, and preservation. As a specimen in UNC64 condition, it holds significant appeal to those interested in African currency, Cold War-era geopolitics, and post-colonial development. The fine balance of cultural imagery, security printing sophistication, and preserved original paper makes this example ideal for display or inclusion in a premier collection of African or world banknotes. Its high face value, limited distribution, and strong condition all contribute to its scarcity and desirability in today’s numismatic market.
In conclusion, the Ghana 100 Cedis 1965 P#9s Specimen banknote, graded UNC64 by PCGS, is a rare and powerful testament to Ghana’s assertion of economic and political independence. With a commanding portrait of Kwame Nkrumah, a dignified rendering of the State House, and a vibrant yet refined design, this note captures the spirit of a nation stepping confidently onto the world stage. Its specimen status and high grade further enhance its collectible value, offering a near-perfect example of the fusion between national identity, historical narrative, and the art of banknote production.