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Guide
1 Guinea in Pounds: £1.05 Today, or £800+ as a Gold Coin
1 guinea = £1.05, that's 21 shillings, the historic currency phrase still used today by
auction houses, classic horse races and traditional professional fees. It's 5% above a pound (the built-in
commission origin). As a physical coin, the gold guinea (struck 1663–1813) is a different
story: worn 18th-century guineas trade at £800–1,500, and the famous 1813 Military Guinea
reaches £15,000+ in mint state. This guide covers both: the modern currency conversion
(including 1,000 guineas = £1,050 and 100 guineas = £105), the physical coin's gold content and
rarity, and where guineas survive in 2026 usage.
A gold guinea contains 0.2472 troy oz of fine gold (8.39 g at 22 carat).
With gold at £2,921.80/oz, its metal is
worth £722.27 today.
That is the metal floor, not the price. A worn common-date guinea sells for
£800–£1,500; the gap between that and the melt figure above
is the numismatic premium.
Worth noting right now: gold has risen far enough that melt has caught up
with the bottom of the collector market. At
£722.27 a worn guinea is trading at or near its gold
value, which means the cheapest guineas are currently priced as bullion rather than as
coins. Historically that gap was several hundred pounds.
Gold spot from our live metals feed, last updated
2 November 2026.
Wondering what a guinea was worth in today’s money? A guinea was 21 shillings, £1.05 decimal. In 1900 that bought roughly what £168 buys today.
Convert any amount and year (1751–2024) with our
old money in today’s money converter.
This guide covers the other question: what the physical coins are worth to collectors.
In brief. Currency phrase value: £1.05 (21 shillings = £1.05 since 1971).
Physical guinea coin: 8.39 g, 7.69 g pure gold (22-carat). Common worn 18th-century guinea:
£800-1,500. 1813 Military Guinea (last circulation guinea): £1,200-15,000
depending on grade. Replaced by the sovereign in 1817. Still used in horse racing, auction commission and
traditional professional fees.
WatchThe Complete History of The Guinea CoinHistory of the guinea coin, matches guinea value guide (Bit's & Bob's) Video: Bit's & Bob's on YouTube
The guinea no longer exists as a coin or banknote, but the 21-shilling unit (= £1.05)
survives in three contexts:
Classic horse racing: the "1,000 Guineas" (£1,050) and "2,000 Guineas" (£2,100) at Newmarket retain their guinea-denominated names.
Auction commission: traditional UK auction houses quote prices in guineas, with the 5% above-pound mark-up serving as auctioneer's commission. Hammer at "100 guineas" = £100 to seller, £5 to auctioneer, £105 total to buyer.
Professional fees: doctors, dentists and lawyers historically quoted fees in guineas with the 5% premium covering admin/commission. Almost extinct today but persists in some traditional firms.
The guinea was struck in 22-carat gold continuously from 1663 (Charles II) to 1813 (George III).
Standard specifications:
Property
Value
Gross weight
8.39 g
Pure gold content
7.69 g (22-carat, .9167 fine)
Troy ounces of pure gold
0.247 oz
Diameter
25.4 mm
Original face value
21 shillings (£1.05 in modern decimal)
Composition
91.67% gold, 8.33% copper
Why "guinea"? The first guineas were struck from gold sourced via the Royal African Company's trade with the
"Guinea coast" of West Africa, modern-day Ghana, Guinea-Bissau and surrounding regions. The name persisted
even as gold sources diversified throughout the 18th century. The guinea was always an unsteady denomination;
the 1717 reform under Sir Isaac Newton set the rate at 21 shillings (£1.05) where it remained until the
coin was replaced by the sovereign in 1817.
The 1813 Military Guinea (also called the "Soldier's Guinea") is the most famous and most-collected
guinea date. Mintage 80,000. Struck specifically to pay British soldiers during the Peninsular
War, the British Army needed gold currency to operate in Spain and Portugal where Bank of England paper
notes were not accepted. Many 1813 Military Guineas were exported and never returned to Britain, reducing UK
survival rates and increasing collector premiums today. The 1813 Military Guinea is the last guinea ever
struck for circulation; production then paused while the Royal Mint prepared the sovereign denomination
(introduced 1817). The 1813 Military Guinea trades at £1,200-15,000 depending on condition and grade.
Frequently asked questions
How much is a guinea worth today?
Two answers depending on what you mean. (1) As a currency phrase, "a guinea" today means £1.05, one pound and one shilling, the historical guinea value (21 shillings vs the pound's 20 shillings). It is still used by some auction houses and racing-bookmakers as a quotation unit. (2) As a physical coin, a worn 18th-century gold guinea trades at £800-1,500. It contains 0.2472 troy oz of fine gold at 22 carat, so its melt value tracks the gold price and is shown live at the top of this page; the rest of the price is numismatic premium for the design, date and history. High-grade Victorian-era guineas (struck only as proof or pattern after 1813) command much higher premiums.
When was the last guinea struck?
The last guinea coin struck for general circulation was the 1813 "Military Guinea" of George III (the "Soldier's Guinea"). Mintage 80,000, struck specifically to pay British soldiers during the Peninsular War. After 1813 the guinea was replaced by the sovereign (introduced 1817), which carried a face value of £1 instead of 21 shillings. The guinea coin format had run continuously from 1663 to 1813, a 150-year span across the reigns of Charles II, James II, William and Mary, William III, Anne, George I, George II and George III. A small number of proof guineas were struck after 1813 for specimen sets and pattern purposes (e.g. 1816 proof guineas) but no further circulation strikes.
How much gold is in a guinea?
A standard guinea (1663-1813) weighs 8.39 g total, of which 7.69 g is pure gold at 22-carat (.9167 fine). This is approximately 0.2472 troy ounces of fine gold, and the live melt value at today’s gold price is shown at the top of this page rather than quoted as a fixed figure here, because it moves daily. Compared to a sovereign (the post-1817 successor), the guinea has slightly more gold, sovereigns weigh 7.98 g (vs 8.39 g for guineas) and contain 7.32 g pure gold (vs 7.69 g for guineas). The guinea is therefore roughly 5% heavier in gold content than a sovereign, reflecting its slightly higher historical face value (21 shillings vs the sovereign's 20).
Why is a guinea worth £1.05?
The guinea was originally the value of 21 silver shillings, one shilling more than the pound (which equalled 20 shillings). The 21-shilling rate was set in 1717 when the gold-to-silver ratio was reformed under Sir Isaac Newton (then Master of the Royal Mint). Before 1717 the guinea floated against silver and could trade as high as 30 shillings. After 1717 the rate stabilised at 21:20. When Britain went decimal in 1971, 20 shillings became 100 pence (£1.00) and 21 shillings became 105 pence (£1.05). Modern auction houses, racing-bookmakers and some traditional professional fees still quote in guineas because the 5% premium over a pound is a convenient mark-up for commission.
Where is the guinea still used?
Three places. (1) Horse racing prize money, the "1,000 Guineas" (£1,050) and "2,000 Guineas" (£2,100) classic races at Newmarket are still officially named after the historical purse value. (2) Auction commission, some traditional UK auction houses quote sale prices in guineas, with the buyer paying the auction house the 5% over the hammer price as commission. (3) Professional fees, doctors and lawyers historically quoted in guineas as the £1.05 unit included a built-in commission for the professional. This usage has largely faded since the 1970s but persists in traditional firms.
How can I tell a real guinea from a fake?
Three checks. (1) Weight: 8.39 g ± 0.10 g. Use a digital scale to 0.01 g precision. (2) Diameter: 25.4 mm. (3) Specific gravity: 22-carat gold = 17.6 g/cm³. Plus authentic guineas have characteristic milled edge with date and the appropriate monarch's portrait. For high-value examples (most original guineas), professional grading by PCGS or NGC is essential. Counterfeit guineas exist in two forms: contemporary 18th-century forgeries (gilt copper or silver-plated; trade as historical curiosities at £30-100) and modern 22-carat replicas (correct gold content but cast or modern-struck rather than original; should be marked as replicas under UK consumer protection law).
How much is a 1813 Military Guinea worth?
The 1813 Military Guinea is the most-collected single guinea date because it was the final guinea struck for circulation. Mintage 80,000. Worn examples trade at £1,200-2,200; mint state at £3,500-7,500; high-grade slabbed PCGS or NGC at £8,000-15,000. The 1813 Military Guinea is sometimes confused with the 1813 Sovereign, they are different coins: the 1813 Military Guinea is the last guinea (£1 1s face value, 8.39 g, 25.4 mm); no 1813 Sovereign exists (the Sovereign denomination wasn't introduced until 1817). The 1813 was struck specifically for paying British soldiers during the Peninsular War, many were exported to Spain and Portugal, reducing UK survival rates.
Where can I buy or sell guineas?
For purchase: UK numismatic auction houses (Spink, Baldwin's, Noonans) for graded historical specimens. For modern bullion-grade sales: dealer websites (Atkinsons Bullion, Baird & Co) for common-date worn examples at gold-melt-plus-numismatic prices. eBay UK works for common-date worn guineas (£800-1,500 range) but check sold listings to verify market price; the guinea market is opaque and Westminster-style direct-mail prices are typically 50-80% over fair market. Avoid pawn shops, which consistently undervalue gold guineas at melt-only prices.
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