::Guinea (British coin)

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The guinea is a coin of approximately one quarter ounce of gold that was minted in the Kingdom of England and later in the Kingdom of Great Britain and the United Kingdom between 1663 and 1814.<ref name = "Roberts">{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> It was the first English machine-struck gold coin, originally worth one pound sterling,<ref name = "Roberts"/> equal to twenty shillings; but rises in the price of gold relative to silver caused the value of the guinea to increase, at times to as high as thirty shillings; from 1717 until 1816, its value was officially fixed at twenty-one shillings. Following that, Great Britain adopted the gold standard and guinea became a colloquial or specialised term.

The name came from the Guinea region in West Africa, where much of the gold used to make the coins originated.<ref>Chambers, Robert (1885). Domestic Annals of Scotland. Edinburgh : W & R Chambers. p. 259.</ref> Although no longer circulated, the term guinea survives in some circles, notably horse racing,<ref name = "Roberts"/> and in the sale of rams, to mean an amount of one pound and one shilling (21 shillings) or one pound and five pence in decimalised currency. The name also forms the basis for the Arabic word for the Egyptian pound الجنيه{{#invoke:Category handler|main}} el-Genēh / el-Geni, as a sum of 100 Qirsh (i.e., one pound) was worth approximately 21 shillings at the end of the 19th century.


Guinea (British coin) sections
Intro   Origin    Seventeenth century    Eighteenth century    Nineteenth century    Gallery   See also  References  External links  

PREVIOUS: IntroNEXT: Origin
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{{#invoke:redirect hatnote|redirect}}

The guinea is a coin of approximately one quarter ounce of gold that was minted in the Kingdom of England and later in the Kingdom of Great Britain and the United Kingdom between 1663 and 1814.<ref name = "Roberts">{{#invoke:citation/CS1|citation |CitationClass=book }}</ref> It was the first English machine-struck gold coin, originally worth one pound sterling,<ref name = "Roberts"/> equal to twenty shillings; but rises in the price of gold relative to silver caused the value of the guinea to increase, at times to as high as thirty shillings; from 1717 until 1816, its value was officially fixed at twenty-one shillings. Following that, Great Britain adopted the gold standard and guinea became a colloquial or specialised term.

The name came from the Guinea region in West Africa, where much of the gold used to make the coins originated.<ref>Chambers, Robert (1885). Domestic Annals of Scotland. Edinburgh : W & R Chambers. p. 259.</ref> Although no longer circulated, the term guinea survives in some circles, notably horse racing,<ref name = "Roberts"/> and in the sale of rams, to mean an amount of one pound and one shilling (21 shillings) or one pound and five pence in decimalised currency. The name also forms the basis for the Arabic word for the Egyptian pound الجنيه{{#invoke:Category handler|main}} el-Genēh / el-Geni, as a sum of 100 Qirsh (i.e., one pound) was worth approximately 21 shillings at the end of the 19th century.


Guinea (British coin) sections
Intro   Origin    Seventeenth century    Eighteenth century    Nineteenth century    Gallery   See also  References  External links  

PREVIOUS: IntroNEXT: Origin
<<>>