2016 East India Company Guinea® 1oz Silver Proof Coin – SOLD OUT

The coin design features the spade design from the last circulating Guineas struck under King George III: a simplified shield with quarters containing the arms of England and Scotland, France, Hanover and Ireland. Sectional frosting between a series of connection lines denote the extent of The East India Company’s global reach, adding a modern dimension to a design deeply rooted in British history.

The name ‘Guinea’ was initially a colloquial term referred to the use of gold provided by the mining of gold and silver in the Guinea region of West Africa. By 1720, in the reign of King George I, it was officially adopted as the name for the pound coin.

The machine-struck coins could be minted in large quantities and quickly satisfied the country’s demand for gold. The value of the Guinea during the first fifty years fluctuated as it mirrored the value of gold, until 1717 when the Master of the Mint Sir Isaac Newton, fixed its value at 21 shillings, (or £1.05 in decimal currency), with the adoption of the gold standard in Britain. Its reputation for purity and accuracy resulted in the Guinea becoming the most acceptable trading commodity in Britain’s growing Empire. The East India Company ships would take the Guinea on a journey around the world as they traded in exotic luxuries such as spices, tea and fine silk.

On 22^nd June 1816, the 21 shilling Guinea was finally superseded by the 20 shilling Sovereign, as Britain faced economic turmoil following the devastating Napoleonic Wars. However, the legacy of the Guinea remains to this day, with horseraces and trading and livestock auctions still using the term to award prestigious prizes. On 22^nd June 2016, 200 years to the very day that the Guinea was officially replaced by the Sovereign with the introduction of the 1816 Great Re-coinage Act, The East India Company released for sale the 2016 Guinea 1oz Silver Proof Coin in commemoration of the coin that built Empires, won wars and served Britain for over 150 years.