Guinea

Guinea was a British gold coin came into use in 1663, when it was first minted. The gold for this coin was imported from West Africa. Its value was fixed at 21 shillings. The guinea coin was replaced with another form of currency from 1817.

This coin derived its name from Guinea, the region in West Africa from where the gold was imported.

When decimal system of currency replaced the old predecimal currency, its value was fixed at £1.05, now used as auction prices or determining professional fees etc.