Latest update April 4th, 2025 6:13 AM
Commemorative stamp, gold medallion launched for 50th Republic Anniversary
– collectors will eventually be able to buy ingots
President David Granger on Monday evening attended the launch of the 50th Republic Anniversary Commemorative Stamp and Gold Medallion at a simple unveiling ceremony held at the Umana Yana, High Street, Kingston, Georgetown.
President David Granger receives a token from 21-year-old Dillon Craig, who designed one side of the 50th Republic Anniversary gold commemorative medallion. Also in photo are Minister of Natural Resources, Mr. Raphael Trotman (centre) and Minister of Public Telecommunications, Mrs. Catherine Hughes (behind Craig).
President Granger, who was accompanied by First Lady, Mrs. Sandra Granger, said the 50th anniversary of the establishment of the Cooperative Republic of Guyana is a defining moment in history.
He said the attainment of Republican status allowed Guyana to consolidate and continue its quest for economic independence through economic diversification.
“The act of becoming a Republic allowed Guyana to exercise sovereignty over its own natural resources and to develop its own national symbols – including honours and awards – and, with them, our priceless national pride that is part of our ‘Guyaneseness,’ the President said.
President Granger said commemorative coinage, stamps and medallions celebrate the nation’s heritage. They honour notable personalities, noteworthy events and important institutions.
“Postage stamps, before our digital revolution introduced e-mail and other electronic means of communication, were regarded as symbols of statehood. They are a means of reinforcing national identity by projecting a nation’s image and the values.
“Stamps record a country’s heritage and history. They proclaim our beliefs and culture to the countries of the world,” the Head of State said.
The gold Commemorative Medallion in celebration of Guyana’s 50th Republic Anniversary
President Granger said too, that gold and diamond mining have been traditional mainstays of the country’s economy. The sector has helped to sustain economic growth, earn valuable foreign exchange, generated employment for more than 16,500 persons annually, and has been responsible for supporting the livelihoods of more than 100,000 Guyanese.
“The gold sector is an economic powerhouse. Gold mining accounts for 9.7 per cent of our Gross Domestic Product. Gold is our largest foreign exchange earner. The commemorative medallion which is being issued today is made of gold – pure Guyanese gold – which was mined from the bowels of our country and minted finely to enhance its value,” President Granger said.
The medallion is 99.9 per cent pure Guyana gold, weighs one Troy ounce and is currently valued at G$700,000. It is not legal tender.
The design on one side of the medallion was done by 21-year-old artist Mr. Dillon Craig. The other side has the logo of the Guyana Gold Board.
Minister of Public Telecommunications, Mrs. Catherine Hughes, said Guyana is on the brink of an economic revolution as the country moves into a promising future.
Prime Minister Moses Nagamootoo and Minister of Citizenship, Mr. Winston Felix also attended the event.
According to Minister of Natural Resources, Raphael Trotman, the Guyana Gold Board was incorporated by Act No. 12 of 1981, intituled the “Guyana Gold Board Act”.
“The precise mandate of the Board is to carry on the business of trading in gold. Since its inception, the Board has been buying and selling gold on behalf of the Government and people of Guyana.
“However, a secondary mandate is for the board to engage in “other related commercial or industrial activities. This secondary occupation has not received sufficient attention over the past two plus decades.”
He said that the gold coins represent a bold step in this direction.
“I daresay that in the not too distant future Guyanese, and foreigners alike, will be able to purchase ingots as investments or as gifts, which will be accompanied with a certificate of authenticity.”
He pointed to the contribution of gold.
“Our efforts from 2015 when this administration came into office to present, have borne bountiful fruit – evidenced by record gold production and declarations of 3,068,648 ozs which brought revenue of US$3,792,066 in direct revenue for the state.”
He paid tribute to artist Dillon Craig, who was present at the ceremony.
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