First minted in 1663 in England, the coins were made of gold mined in what is now the Republic of Guinea (to which the name Guinea coins) in West Africa, were initially worth £1.
- Guinea (coin) – Wikipedia
It was the first English machine-struck gold coin, originally worth one pound sterling, 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.
- 1791 George III Guinea Gold Coin – £517 – Bullion By Post
The one Guinea gold coin took it’s name from the region of West Africa where much of the Gold for the coins originally came from.
- Guinea coin – Gold Guineas | The Royal Mint
The gold guinea was undoubtedly the major British coin of the eighteenth century. It was born in the aftermath of the English Civil War when the republican issues were replaced with a more impressive coinage bearing the portrait of the newly restored King, Charles II.
- Guinea, sovereign, shilling: a short history of the British coinage …
Last week’s royal christening saw the launch by the Royal Mint of nine commemorative coins, three of which are in 24-carat gold.