How Much is a Guinea Worth?

A Guinea was worth a pound, which at the time was the equivalent of 20 Shillings. In many ways it was the precursor to the Sovereign, and holds a key place in British coinage history. Today of course a Guinea is worth far more thanks to it's gold content.

What is a Guinea?

The Guinea was originally produced in 1663 and was the largest denomination in British currency until it was replaced by the pound in 1816. The name ‘Guinea’ apparently refers to the fact that the gold used for minting coins in the 17th Century was supplied by the Africa Company, who operated along the Guinea Coast in West Africa.

It had a nominal face value of around 20 Shillings, the equivalent of a pound in today’s money, although this value fluctuated as high as 30 Shillings. It was the first English gold coin to be produced by a machine.

How much is a Guinea worth?

Guineas vary in price, from a few hundred pounds to several thousand. Guinea coins are still worth a considerable amount due to their gold content. A Guinea is a 22 carat gold coin that weighs 8.3g and, as is the case with other gold bullion coins, its value is calculated by multiplying its gold content by the current gold spot price.

Click here to see our range of gold Guinea coins for sale.

Since British currency was decimalised on 15th February 1971, the Guinea has no longer been accepted as legal tender. The term is still used in certain circles such as horse racing to describe values equivalent to one pound and one shilling, or £1.05 in modern currency. As it is no longer classed as legal tender, the Guinea differs from other British bullion coins such as Britannias and Sovereigns in that it is not exempt from Capital Gains Tax.

Half Guinea coins

There are also several smaller Half Guinea coins, and even the Third Guinea coin, that are also all 22 carat gold (91.6% gold purity). Their values are calculated in the same way as the full Guinea and other bullion coins.

How much is a Guinea worth today?

A Guinea contains 7.5 grams of gold, so it's worth today is valued firstly on it's metal value alone. At today's prices that makes a Guinea worth at least $400, though this value can of course rise as well as fall. A Guinea of course can be worth far more that just it's metal value. The age and importance of the Guinea makes it a very collectable coin, and depending on the particular year, and the coin's condition it can be worth quite a lot to a collector.