  Deep V and I CCD images with sub-arcsec spatial resolution are used to
investigate the stellar content of the central regions of the Local Group dwarf
elliptical galaxy NGC147. Red giant branch (RGB) stars are resolved over the
entire field, and the RGB-tip occurs at I ~ 20.5, suggesting that the distance
modulus is 24.3. A comparison with globular cluster sequences indicates that
the center of NGC147 is moderately metal-poor, with [Fe/H] ~ -1. This is not
significantly different from what was found in the outer regions of the galaxy
by Mould, Kristian & Da Costa (1983, ApJ, 270, 471). Moreover, the width of the
V-I color distribution at I = 21.0 indicates that a spread in metallicity is
present, with sigma[Fe/H] ~ +/- 0.3. There is no evidence of a component more
metal-poor than [Fe/H] ~ -1.3. A small population of moderately bright
asymptotic giant branch (AGB) stars has also been detected, and the AGB-tip
occurs near M{bol} ~ -5.0, indicating that an intermediate-age population is
present. It is estimated that the intermediate-age population contributes ~
2-3% of the V light from NGC147.
