Options
How did the term, "Guinea" come about?
topstuf
Posts: 14,803 ✭✭✭✭✭
Wiki is pretty incomplete.
https://simple.wikipedia.org/wiki/Guinea_(British_coin)
Anyone know how they came to name the coin a "Guinea?"
0
topstuf
Posts: 14,803 ✭✭✭✭✭
Comments
IIRC, the Guinea coin was first made in 1663 from gold originating from the African continent. Spink says this gold was imported into England by "The Africa Company" and that its origin was Guinea. Some of the early guineas of Charles II of England had an elephant 'privy mark' on the obverse, underneath the bust of the King, and that this mark was supposed to indicate the origin of the gold. Similar elephant marks appeared on some gold of James II. The "Elephant and Castle" was also the badge of The Africa Company. The name "Guinea" stuck long after the coin itself disappeared.
Charles II's bride, Catherine of Braganza, brought the city of Tangier (in North Africa) to her husband as a part of her dowry. For about 20 years, the English were especially excited about Africa, but they eventually evacuated Tangier.
Ah, so the GOLD came FROM Guinea. Thanks Bill.
@BillDugan1959 said: "IIRC, the Guinea coin was first made in 1663 from gold originating from the African continent. Spink says this gold was imported into England by "The Africa Company" and that its origin was Guinea."
This is not entirely correct but it makes a good story for an auction house selling the coins.
A more correct answer would be that in addition to **previously struck" gold coins that were melted for the new issue, gold from Guinea was also used.
Ah, so it was SCRAP GOLD from Guinea!
Not all of these new gold coins bore the elephant privy mark, not by any means. This may represent an effort to distinguish the source of the gold. I suppose over the years, coins with the elephant were possibly saved by collectors in preference to the coins without.
Nevertheless, the name stuck to all and guineas were minted into the Napoleonic wars era. The guinea was a "unit of account" used on billings by some professionals and high-end retailers as late as the 1960s.
Interesting !!!
Check out my “William and Mary” post I uploaded today. It includes a guinea with the elephant and castle mark.