World Gold - 1664 English 2 Guinea Gold Piece, 'Elephant' variety, NGC XF45
The elephant below the bust signified the Royal African Company and their source of gold -- Guinea, on the west coast of Africa, after which the popular and long-standing gold denomination was named. The Royal African Company mined and imported the gold ore, which was coined at the Tower Mint. The elephant hallmark was initially introduced in 1664 (the date of the present example) as the company's badge, but later the more distinctive elephant with castle was used as it seemed more regal.
The guinea was a coin of approximately one-quarter ounce of gold that was minted in Great Britain between 1663 and 1814. The name came from the Guinea region in West Africa, where much of the gold used to make the coins originated. It was the first English machine-struck gold coin, originally worth one pound sterling, equal to twenty shillings, but rises in the price of gold relative to silver caused the value of the guinea to increase, at times to as high as thirty shillings. From 1717 to 1816, its value was officially fixed at twenty-one shillings.
|Numeric Denomination||2 Guineas|
|Grade Add On||NONE|