1793 Great Britain King George III Fifth Bust (Spade) Guinea Gold Coin

Product Description:

First introduced in 1663, these coins served as the prevailing currency of Great Britain for an impressive span of over 150 years, maintaining their prominence until the great recoinage of 1816. Their gold content was the same as their successor, the gold Sovereign at (22k or 91.67%). These coins encompassed a rich tapestry of diverse types and denominations, with their weights and values undergoing several adjustments throughout history to adapt to the ever-shifting economic landscape.

These coins achieved international acclaim, solidifying their status as a global currency. Their universally recognized size and weight made them highly sought-after commodities across the globe, even extending their influence to the shores of Australia. They made their debut in Australia in the hands of sailors accompanying the first fleet, eventually obtaining official currency status in New South Wales, as affirmed in the Proclamation of 1800.

The monarchs depicted on Guineas spanned from King Charles II to, of course, King George III, as we see on this lovely coin. Its name, "Guinea," was derived from the mines in which the gold for the original coins was obtained; Guinea in West Africa. The coins would be equal to one pound, much the same as the Sovereign that would replace it; similarly, there would be various other sizes of Guineas, most commonly Half guineas and 1/3 Guineas.

The George III Guinea is one of the more popular issues as it was the last produced, and there are multiple different types and denominations. In the latter part of the 18th century, gold was beginning to become increasingly scarce, and due to the French Revolution and French Revolutionary wars, Parliament would pass a law allowing paper money to be issued in place of Guineas. However, as we now know, this was a costly mistake that would later be rectified by the production of gold Sovereigns.

Obverse: Laureate head of King George III

Reverse: Crowned 4-fold spade within circular legend.

Ex Spink Sale 23004

Seaby - 3729