Guinea (coin) – Wikipedia

british gold mint minted between 1663 and 1814
“ Guineas ” redirects here. For other uses, see Guinea ( disambiguation ) Five-guinea mint, James II, Great Britain, 1688 The guinea ( ; normally abbreviated gn., or gns. in plural ) [ 1 ] was a coin, minted in Great Britain between 1663 and 1814, that contained approximately one-fourth of an snow leopard of gold. [ 2 ] The name came from the Guinea region in West Africa, from where much of the gold used to make the coins was sourced. [ 3 ] It was the first english machine-struck gold coin, in the first place worth one pound sterling, [ 2 ] equal to twenty shillings, but rises in the monetary value of gold relative to silver caused the value of the guinea to increase, at times to a high as thirty shillings. From 1717 to 1816, its value was formally fixed at twenty-one shillings. [ 4 ]

When Britain adopted the gold standard, the guinea became a colloquial or specialize term. Although the mint itself no longer circulated, the term guinea survived as a unit of account in some fields. celebrated usages included professional fees ( medical, legal, etc. ), which were often invoiced in guineas, and horse racing and greyhound rush, [ 2 ] and the sale of rams. In each case a wop meant an come of one pound and one somalian shilling ( 21 shillings ), or one hammer and five penny ( £1.05 ) in decimalize currency. The name besides forms the basis for the Arabic bible for the egyptian cypriot pound الجنيه el-Genēh / el-Geni, as a union of 100 qirsh ( one pound ) was worth approximately 21 shillings at the conclusion of the nineteenth hundred .
George III, “ spade ” issue, 1795

origin [edit ]

The beginning guinea was produced on 6 February 1663 ( 359 years ago ) ( ) ; a announcement of 27 March 1663 made the coins legal currency. One troy impound of 11⁄12 ( 0.9133 ) [ citation needed ] finely gold ( 22 carat or 0.9167 saturated by weight ) would make 44+1⁄2 guineas, [ 5 ] each therefore theoretically weighing 129.438 grains ( 8.385 grams crown gold, 7.688 grams very well gold, or 0.247191011 ozt ( troy ounces ) fine aureate ). The coin was primitively worth one ram, or twenty dollar bill shillings, but an increase in the price of amber during the reign of King Charles II led to the commercialize trading it at a agio. The price of gold continued to increase, particularly in times of trouble, and by the 1680s, the mint was worth 22 silver shillings. indeed, in his diary entries for 13 June 1667, Samuel Pepys records that the price was 24 to 25 shillings. [ 6 ] The diameter of the mint was 1 in ( 25.4 millimeter ) throughout Charles II ‘s reign, and the modal gold honor ( from an try done in 1773 of samples of the coins produced during the preceding year ) was 0.9100. “ Guinea ” was not an official name for the coin, but much of the gold used to produce the early coins came from Guinea ( largely modern Ghana ) in West Africa. [ 7 ] The mint was produced every year between 1663 and 1684, with an elephant look on some coins [ 4 ] each year from 1663 to 1665 and 1668, and the elephant with a howdah on other coins minted from 1674 or 1675 onwards. [ 4 ] The elephant, with or without a howdah, was the emblem of the royal african Company ( RAC ), which had been granted a monopoly on English barter with Africa in slaves, gold and early goods, from 1672 until 1698 ; aureate imported from Africa by the RAC bore the elephant emblem beneath the monarch ‘s lead on the coin. [ 8 ]

seventeenth century [edit ]

The obverse and change by reversal of this coin were designed by John Roettiers ( 1631–c. 1700 ). The obverse showed a fine right-facing broke of Charles II wearing a laurel wreath ( amended respective times during the reign ), surrounded by the caption CAROLVS II DEI GRATIA ( “ Charles II by the grace of God ” ), while the reverse showed four crowned cruciate shields bearing the arms of England, Scotland, France, and Ireland, between which were four sceptres, and in the centre were four interlinked “ C ” s, surrounded by the inscription MAG BR FRA ET HIB REX ( “ Of Great Britain, France, and Ireland King ” ). The edge was milled to deter clipping or file, and to distinguish it from the flatware half-crown which had edge letter. Until 1669 the mill was perpendicular to the edge, giving vertical grooves, while from 1670 the milling was aslant to the edge .

James II [edit ]

John Roettiers continued to design the dies for this denomination during the reign of King James II. In this reign, the coins weighed 8.5 gigabyte ( 0.27 ozt ) with a diameter of 25–26 millimeter ( 0.98–1.02 in ), and were minted in all years between 1685 and 1688, with an average gold purity of 0.9094. Coins of each year were issued both with and without the elephant-and-castle bell ringer. The king ‘s head faces left in this reign, and is surrounded by the dedication IACOBVS II DEI GRATIA ( “ James II by the grace of God ” ), while the reversion is the lapp as in Charles II ‘s reign except for omitting the interconnect “ C ” second in the center of the coin. The edge of the coins are milled diagonally .

Mary & William [edit ]

With the removal of James II in the Glorious Revolution of 1688, his daughter Mary and her husband Prince William of Orange reigned jointly as co-monarchs. Their heads appear conjoined on the wop part in Roman style, with William ‘s pass topmost, with the caption GVLIELMVS ET MARIA DEI GRATIA ( “ William and Mary by the grace of God ” ). In a departure from the former reigns, the overrule featured a wholly new design of a bombastic crowned harbor which bore the arms of England and France in the beginning and fourth quarters, of Scotland in the second quarter, and of Ireland in the one-third quarter, the wholly ensemble having a little harbor in the concentrate bearing the rampant lion of Nassau ; the legend on the obverse read MAG BR FR ET HIB REX ET REGINA ( Of “ Magna Britannia ” Great Britain, “ Francia ” France and “ Hibernia ” Ireland King and Queen ) and the year. By the early on separate of this reign the rate of the guinea had increased to about 30 shillings. The wop of this reign weighed 8.5 guanine ( 0.30 oz ), were 25–26 millimeter ( 0.98–1.02 in ) in diameter, and were the work of James and Norbert Roettiers. They were produced in all years between 1689 and 1694 both with and without the elephant and castle ; in 1692 and 1693 the notice of the elephant entirely was besides used. Following the death of Queen Mary from smallpox in 1694, William continued to reign as William III. The guinea coin was produced in all years from 1695 to 1701, both with and without the elephant and castle, the design credibly being the oeuvre of Johann Crocker, besides known as John Croker, since James Roettiers had died in 1698 and his brother Norbert had moved to France in 1695. The coins of William III ‘s predominate weighed 8.4 thousand ( 0.27 ozt ) with an modal gold honor of 0.9123. The diameter was 25–26 millimeter ( 0.98–1.02 in ) until 1700 and 26–27 millimeter ( 1.02–1.06 in ) in 1701. William ‘s head faces right on his coins, with the legend GVLIELMVS III DEI GRATIA, while the change by reversal purpose of William and Mary ‘s reign was judged to be abortive, so the plan reverted to that used by Charles II and James II, but with a little shield with the lion of Nassau in the center, with the caption MAG BR FRA ET HIB REX and the year. The coin had a diagonal milled border .

eighteenth century [edit ]

king Anne [edit ]

During the reign of Queen Anne ( 1702–1714 ) guineas were produced in all years between 1702 and 1714 except for 1704. The 1703 guinea bears the password VIGO under the Queen ‘s burst, to commemorate the origin of the gold taken from spanish ships captured at the Battle of Vigo Bay. With the Acts of Union 1707 creating a unite Kingdom of Great Britain through the union of the Parliament of Scotland with the Parliament of England, the design of the reverse of the first gear sincerely british guinea fowl was changed. Until the Union, the cruciate shields on the revoke showed the arms of England, Scotland, France, and Ireland in regulate, separated by sceptres and with a central rose, and the caption MAG BR FRA ET HIB REG ( “ Of Great Britain, France, and Ireland Queen ” ) and the class. With the Act of Union, the English and scottish arms appear conjoined on one shield, with the leave half being the english arms and the right half being the scots arms, and the order of arms appearing on the shields becomes England and Scotland, France, England and Scotland, Ireland. The elephant and castle can appear on the coins of 1708 and 1709. The center of the invert purpose shows the star of the Order of the Garter. The coins weighed 8.3 gravitational constant ( 0.29 oz ), were 25 millimeter ( 0.98 in ) in diameter, and had a gold purity of 0.9134. The edge of the mint is milled diagonally. The dies for all guineas of Queen Anne and King George I were engraved by John Croker, an immigrant in the first place from Dresden in the Duchy of Saxony. [ 9 ]

George I [edit ]

George I : quarter guinea ( 1718 ) King George I ‘s wop coins were struck in all years between 1714 and 1727, with the elephant and castle sometimes appearing in 1721, 1722, and 1726. His guineas are noteworthy for using five unlike portraits of the king, and the 1714 coin is noteworthy for declaring him to be Prince Elector of the Holy Roman Empire. The coins weighed 8.3–8.4 grams, were 25–26 millimetres in diameter, and the average gold purity was 0.9135. The 1714 obverse shows the right-facing portrait of the king with the legend GEORGIVS D G MAG BR FR ET HIB REX F D ( “ George, by the grace of God of Great Britain, France, and Ireland King, Fidei Defensor “ ), while the late coins bear the caption GEORGIVS D G M BR FR ET HIB REX F D. The reverse follows the lapp general invention as before, except the decree of the shields is England and Scotland, France, Ireland, and Hanover, with the legend in 1714 BRVN ET LVN DUX S R I A thursday ET PR EL ( “ Duke of Brunswick and Lueneburg, Arch-Treasurer and Prince Elector of the Holy Roman Empire “ ) and the year, and in other years BRVN ET L DUX S R I A thursday ET EL ( “ Duke of Brunswick and Lueneburg, Arch-Treasurer and Elector of the Holy Roman Empire ” ) and the year. The edge of the coin is milled diagonally. The value of the guinea fowl had fluctuated over the years from 20 to 30 shillings and second down to 21 shillings and sixpence by the start of George ‘s reign. In 1717, Great Britain adopted the gold standard, at a rate of one wop to 129.438 grains ( 8.38 deoxyguanosine monophosphate, 0.30 oz ) of crown gold, which was 22 karat gold, [ 10 ] [ 11 ] and a royal announcement in December of the lapp year fixed the value of the guinea at 21 shillings .

George II [edit ]

George II ( two wop ) King George II ‘s guinea pieces are a complex issue, with eight obverses and five reverses used through the 33 years of the reign. The coins were produced in all years of the reign except 1742, 1744, 1754, and 1757. The coins weighed 8.3–8.4 deoxyguanosine monophosphate ( 0.29–0.30 oz ), and were 25–26 millimeter ( 0.98–1.02 in ) in diameter except for some of the 1727 coins which were 24–25 millimeter. The median amber purity was 0.9140. Some coins issued between 1729 and 1739 carry the check EIC under the baron ‘s heading, to indicate the gold was provided by the East India Company, while some 1745 coins carry the mark LIMA to indicate the aureate came from Admiral George Anson ‘s round-the-world voyage. In the early part of the reign the edge of the coin was milled diagonally, but from 1739 following the activities of a particularly bold gang of guinea filers for whom a wages was posted, the milling was changed to produce the supreme headquarters allied powers europe of a chevron or arrowhead. In 1732 the old hammered amber coinage was demonetised, and it is thought that some of the erstwhile coins were melted down to create more guineas. The obverse has a left-facing tear of the king with the caption GEORGIVS II DEI GRATIA ( GEORGIUS II DEI GRA between 1739 and 1743 ), while the reverse features a individual large crowned shield with the quarters containing the arms of England+Scotland, France, Hanover, and Ireland, and the caption M B F ET H REX F D B ET L D S R I A deoxythymidine monophosphate ET E ( “ King of Great Britain, France and Ireland, Defender of the Faith, Duke of Brunswick and Lüneburg, Arch-Treasurer and Elector of the Holy Roman Empire ” ). Unlike the two-guinea and five-guinea coins, production of the guinea continued through a lot of the long reign of King George III.

George III [edit ]

George III, 1775 guinea fowl George III, spade guinea fowl, 1795 The guineas of King George III weighed 8.4 guanine ( 0.27 ozt ) and were 25 millimeter ( 0.98 in ) in diameter, with an average aureate honor ( at the clock of the 1773 assay ) of 0.9146 ( meaning it contained 7.7 gram ( 0.25 ozt ) of gold ). They were issued with six different obverses and three reverses in 1761, 1763–79, 1781–99, and 1813. All the obverses show right-facing busts of the king with the legend GEORGIVS III DEI GRATIA with different portraits of the king. The inverse of guineas issued between 1761 and 1786 show a crown harbor bearing the arms of England+Scotland, France, Ireland and Hanover, with the legend M B F ET H REX F D B ET L D S R I A t ET E and the date ( “ King of Great Britain, France and Ireland, Defender of the Faith, Duke of Brunswick and Lüneburg, Arch-Treasurer and Elector of the Holy Roman Empire ” ). In 1787 a raw design of rearward featuring a spade-shaped harbor was introduced, with the same legend ; this has become known as the spade guinea. In 1774 about 20 million wear guineas of King William III and Queen Anne were melted down and recoined as guineas and half-guineas. Towards the end of the century gold began to become barely and rise in value. The french Revolution and the subsequent french Revolutionary Wars had drained gold reserves and people started hoarding coins. Parliament passed a jurisprudence make banknotes legal tender in any come, and in 1799 the production of guineas was halted, although half- and third-guineas continued to be struck. Following the Act of Union between Great Britain and Ireland in 1800, the king ‘s titles changed, and an regulate in Council of 5 November 1800 directed the chief of the Mint to prepare a new neologism, but although designs were prepared, the production of guineas was not authorised .

nineteenth century [edit ]

1808 Half guinea – George III In 1813 it was necessary to strike 80,000 guineas to pay the Duke of Wellington ‘s army in the Pyrenees, as the local people would accept alone gold in requital. This offspring has become known as the Military Guinea. At this time, gold was still barely and the wop was trading on the capable market for 27 shillings in paper money, so the coin of this consequence for the united states army ‘s extra needs was a poor deal for the politics, and this was the last topic of guineas to be minted. The reverse of the military wop is a singular design, showing a crown harbor within a Garter, with HONI SOIT QUI MAL Y PENSE on the Garter, and BRITANNIARUM REX FIDEI DEFENSOR ( “ King of the Britains, Defender of the Faith ” ) around the boundary, and “ 1813 ” between the edge inscription and the garter .

surrogate by the sudanese pound [edit ]

In the Great Recoinage of 1816, the guinea fowl was replaced by the lebanese pound as the major whole of currency, and in coinage by the autonomous .

Twentieth century onwards [edit ]

After the guinea coin ceased to circulate, the guinea continued in function as a unit of measurement of account deserving 21 shillings ( £1.05 in decimalize currency ). The guinea had an aristocratic overtone, so professional fees, and prices of state, horses, art, bespoke tailor, furniture, white goods and other “ luxury ” items were frequently quoted in guineas until a couple of years after decimalization in 1971. [ 12 ] The wop was used in a like way in Australia until that country converted to decimal currency in 1966, after which it became worth A $ 2.10. Bids are however made in guineas for the sale of racehorses at auction, at which the buyer will pay the guinea-equivalent amount but the seller will receive only that phone number of pounds. The remainder ( 5p in each wop ) is traditionally the auctioneer ‘s committee ( which frankincense, efficaciously, amounts to 5 % on top of the sales price unblock from commission ). many major cavalry races in Great Britain, Ireland, Canada, New Zealand and Australia bear names ending in “ Guineas ”, even though the noun phrase values of their purses nowadays are much higher than the £1,050 or £2,100 suggested by their names. [ a ]

commemorative £2 coin ( 2013 ) [edit ]

In 2013 the Royal Mint issued a £2 coin to celebrate the 350th anniversary of the mint of the beginning guinea fowl mint. [ 13 ] The newly coin was designed by the artist Anthony Smith and features a rework of the spade guinea from the late eighteenth century. The boundary of the coin contains a quotation from the writer Stephen Kemble ( 1758–1822 ) : “ What is a guinea? ‘Tis a splendid thing. “ This was the first time in the United Kingdom that one coin has been used to celebrate another. [ 14 ]

gallery [edit ]

See besides [edit ]

  • Angel (coin), the coin the guinea replaced.
  • Egyptian pound, the native name of which is derived from the guinea, to which it was approximately equal in value in the late 19th century.

Notes [edit ]

References [edit ]

  • “Guinea, Coin Type from United Kingdom”. Online Coin Club .
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