The Guinea was the first English gold coin, and was set at a value of 20 shillings when it was first struck, by the British government. Guineas were first minted in 1663 and later so named from the gold which came from the coast of Guinea and which was among the loot captured with 160 Dutch vessels in 1666. The value of the guinea was allowed to fluctuate between 20 and 30 shillings - due to fluctuations in the relative values of gold and silver throughout Europe - until it was fixed at 21 shillings in 1728, that value being based upon the value of the metal contained in the guinea - that is the gold of one guinea being equal in value to the silver in 21 shillings. The guinea was withdrawn from circulation in 1817 after the issue of soverigns, but the term continued to be used for the sum of 21 shillings (one pound and one shilling). Research Guinea
Abbreviations
Money
Research Guinea