Third guinea (British coin)
Encyclopedia
The British Third Guinea coin is unique among the British gold coin
age in having been produced exclusively in the reign of one monarch, in this case King George III
.
When it was introduced in 1797, the financial situation at the Bank of England
was very precarious -- gold was in short supply thanks to the effects of the French Revolution
ary wars, and banknotes were given legal tender status in any amount. In order to pay the Bank's dividends it was decided to produce what at the time were known as seven-shilling pieces, with odd amounts of the dividend being paid in silver coins. A total of £315,000 worth of coins was authorised in October 1797. The denomination was struck each year until 1813, with the exception of 1805, 1807, and 1812. Between 1800 and 1812 third and half guineas were the only gold coins issued.
The coin weighed 2.8 grams and was 17 millimetres in diameter, with a milled edge. The design of the reverse changed in 1801 following the union of the parliaments of Great Britain and Ireland, when simultaneously the king relinquished his claim on the French throne (some four hundred years after it had ceased to mean anything). There were two obverses used, with different portraits of the king (the new one being introduced in 1804), with the legend GEORGIVS III DEI GRATIA. The design of the reverse was a crown, with the legend MAG BRI FR ET HIB REX date (to 1800) or FIDEI DEFENSOR BRITANNIARUM REX date (from 1801).
Gold coin
A gold coin is a coin made mostly or entirely of gold. Gold has been used for coins practically since the invention of coinage, originally because of gold's intrinsic value...
age in having been produced exclusively in the reign of one monarch, in this case King George III
George III of the United Kingdom
George III was King of Great Britain and King of Ireland from 25 October 1760 until the union of these two countries on 1 January 1801, after which he was King of the United Kingdom of Great Britain and Ireland until his death...
.
When it was introduced in 1797, the financial situation at the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
was very precarious -- gold was in short supply thanks to the effects of the French Revolution
French Revolution
The French Revolution , sometimes distinguished as the 'Great French Revolution' , was a period of radical social and political upheaval in France and Europe. The absolute monarchy that had ruled France for centuries collapsed in three years...
ary wars, and banknotes were given legal tender status in any amount. In order to pay the Bank's dividends it was decided to produce what at the time were known as seven-shilling pieces, with odd amounts of the dividend being paid in silver coins. A total of £315,000 worth of coins was authorised in October 1797. The denomination was struck each year until 1813, with the exception of 1805, 1807, and 1812. Between 1800 and 1812 third and half guineas were the only gold coins issued.
The coin weighed 2.8 grams and was 17 millimetres in diameter, with a milled edge. The design of the reverse changed in 1801 following the union of the parliaments of Great Britain and Ireland, when simultaneously the king relinquished his claim on the French throne (some four hundred years after it had ceased to mean anything). There were two obverses used, with different portraits of the king (the new one being introduced in 1804), with the legend GEORGIVS III DEI GRATIA. The design of the reverse was a crown, with the legend MAG BRI FR ET HIB REX date (to 1800) or FIDEI DEFENSOR BRITANNIARUM REX date (from 1801).
External links
- British Coins - Free information about British coins. Includes an online forum.