Was there ever a coin called the 'guinea'? If so, when was it phased out of general circulation?

Answer 1

The guinea coin of 1663 was the first British machine-struck gold coin. The coin was originally worth one pound, which was twenty shillings; but rises in the price of gold caused the value of the guinea to increase, at times as high as thirty shillings. The name, which was an unofficial name for the coin, came from Guinea in Africa, where much of the gold used to make the coins originated.

Although the coin is no longer current, the term guinea survives in some circles, notably horse racing, to mean an amount of one pound and five pence in decimalised currency (equivalent to 21 shillings). The guinea is also currently a common engagement gift in India. "Guinea" (جنيه) is also the Egyptian Arabic name for the currency in Egypt - the Egyptian pound

Answer 2

You can still buy them at the bank, so they have never been phased out of circulation. A Guinea is an investment. Go buy one.

Answer 3

I don't think there was a coin called a guinea, but it was used to refer to an amount of £1 and 1 shilling, pre-decimal currency.

Answer 4

Ask question at night wnen the British are on ... I think a Guinea is so many pounds or something heard it said on movies before..but im just an american what the crap do i know about britsh money

Answer 5

There was. It was phased out long before decimalisation. It's value was 21 shillings or £1.05 and it lingers on in the bills issued by barristers and some medics. And bloodstock sales.

Answer 6

No, a guinea in new money is £1-05, or 21s in old

Answer 7

It was a British coin during the 40's and 50's. I'm not sure of the denomination, as i think it was actually a slang term (eg Fiver).