The 2017 One East India Company Guinea® Gold Proof Coin

The ‘Guinea’ is one of the world’s most famous coins, coveted by collectors and coin enthusiasts the world over. Produced for over 150 years, it was first minted in 1663 during the reign of Charles II. Originally worth one English pound or 20 shillings, its value fluctuated during its lifetime, mirroring the value of gold, until eventually fixed at 21 shillings with the adoption of the gold standard, equivalent to £1.05 in decimalised currency.

Originally a nick name, the term ‘Guinea’ came from the west coast of Africa in which The Royal Africa Company, responsible for the supply of gold for coining at the time, conducted most of its business. This nickname became widely used and in 1720, in the reign of King George I, was officially adopted by that monarch.

 “An Ornament and a Safeguard”

During the early 17th Century Britain’s gold and silver coins were often subjected to a lucrative and illegal process called clipping – the practice of shaving or cutting the edges of coins for illicit gains. The introduction of the first machine struck coinage in 1663 saw new gold and silver coins minted with a milled and/or edge lettering to deter this illegal clipping of the metal.

Reborn for a new generation:

The Modern Guinea coin features a central motif – a lion ‘rampant guardant’ inspired by the historic East India Company Crest. In this modern interpretation, the lion’s foot rests upon a globe lying on a rope, denoting the reach of the British Empire across the sea.

The shield below the lion references the design found on the last Guinea to circulate in Britain – the ‘Spade’ Guinea of 1787-1799. Crossed sceptres quarter the coin just as found on the very first Guineas during the reign of King Charles II and represent the four points of the compass.