Gold Coast ackey facts for kids
Quick facts for kids Gold Coast ackey |
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| User(s) | Colony of the Gold Coast | ||
| Subunit | |||
| 1⁄8 | takoe | ||
| Plural | ackeys | ||
| Coins | |||
| Freq. used | 1 takoe; 1⁄4, 1⁄2 and 1 ackey | ||
The ackey was a special type of money used a long time ago. It was created by the British for the Gold Coast, which is now part of Ghana. This currency was used between 1796 and 1818.
The ackey was divided into 8 smaller units called takoe. One ackey was worth the same as a British halfcrown coin. This meant that one takoe was equal to about 3 and three-quarter pence. Also, one pound was worth 8 ackeys.
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What Was the Ackey Currency?
The ackey was a unique currency used in the Gold Coast, a British colony. It helped people buy and sell goods in that region. The British government introduced it to make trade easier.
This currency was in circulation for a little over 20 years. It played an important role in the local economy during that time.
Ackey Coins and Their Value
The ackey currency was made up of silver coins. These coins came in different values. You could find coins worth 1 takoe, and also 1⁄4, 1⁄2, and 1 ackey.
The takoe was the smallest unit of the ackey system. Having different coin sizes made it simple for people to pay for things. They could use the right amount of money for their purchases.
The "Free Trade" Message on Coins
Most of the ackey coins had a special message on them. They read: "Free Trade to Africa by Act of Parliament 1750." This message was a reminder of an important law.
This law, called the African Company Act 1750, changed how trade happened. It closed down a company called the Royal African Company. In its place, a new group, the African Company of Merchants, was created. This new company helped manage trade while the ackey was being used.
How the Ackey Got Its Name
The name "ackey" comes from something very interesting: ackee seeds! Ackee is a fruit, and its seeds were used to weigh gold dust. Gold dust was a valuable item traded in the Gold Coast.
One ackee seed weighed about 20 troy grains, which is about 1.3 grams. So, the currency was named after these seeds because they were a common way to measure gold.
