A guinea is a former British gold coin worth 21 shillings, or one pound and one shilling.
History of the Guinea
The guinea was first introduced in 1663 during the reign of King Charles II. It was named after the gold used to make the coin, which came from the Guinea coast of West Africa.
Value of the Guinea
The guinea was initially worth 20 shillings, but its value fluctuated over the years due to changes in the gold price. In 1717, the value of the guinea was fixed at 21 shillings.
The Guinea Today
Although the guinea is no longer in circulation, the term is still used occasionally in the UK, particularly in relation to certain professions like lawyers and doctors who may charge fees in guineas.
Examples of the Guinea
- Medical Fees: Some doctors may charge fees in guineas, often rounded up to the nearest pound.
- Legal Fees: Barristers may also charge fees in guineas, particularly for specialist work.
- Auction Prices: Some auction houses still use guineas when pricing items, particularly antique furniture and art.
Note: The guinea is not a standard unit of currency in the UK today. The pound sterling is the official currency.
