The 1761 Guinea was the first guinea to be issued during the reign of King George III.
The reverse design features a crowned shield of arms. The obverse depicts King George III’s first laureate head.
The 1761 guinea is made of 22 carat gold, and weighs 8.4 grams. It has a diameter of 25mm.
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The Guinea is a famous British gold coin minted between 1663 and 1814. The coin was originally created as a one pound coin (20 shillings) but is better known as being worth One Pound and One Shilling (21 shillings).
After the English Civil War, King Charles II introduced new coinage. A gold coin, approximately a quarter of an ounce, was issued and for the first time it was not hammered. Made by machine using gold from the Guinea Coast of West Africa the coin probably became the most important coin of the realm.
Originally 20 shillings, the coin actually fluctuated with the gold price, at times being as high as 30 shillings. In 1717 , when Britain adopted the Gold Standard, the Guinea became fixed at 21 shillings (in today’s money that is £1.05). Other coins of the family were also minted, such as half guinea, two guineas and five-guineas.
In the Great Recoinage of 1816 the Guinea was replaced by the Pound and the Sovereign became the gold coin in use. Long after the Guinea was retired the name continued to be used, especially for prestige purchases intended for the more wealthy. Even now racehorses are still sold in Guineas (the auctioneer traditionally taking the 5p as commission).
M J Hughes Coins are members of the British Numismatic Trade Association – www.bnta.net. We are coin dealers based in Alton, Hampshire (Where we have a shop location). We are always interested in purchasing any coins that you may have for sale, particularly Royal Mint issues and gold coins. We are happy to make no obligation offers, and purchase from a single coin to an entire gold coin collection. You would be more than welcome to visit our shop, or we are happy to travel to you. Please get in contact with us if you would like to discuss further.
*This particular coin is being sold as a commission sale.