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115-595: In the Great Recoinage of 1816 , the guinea was demonetised and replaced by the gold sovereign . Following the Great Recoinage, the word "guinea" was retained as a colloquial or specialised term, even though the coins were no longer in use; the term guinea also survived as a unit of account in some fields. Notable usages included professional fees (medical, legal, etc.), which were often invoiced in guineas, and horse racing and greyhound racing , and

230-572: A Stuart ever had". Although historians generally accept James wished to promote Catholicism, not establish an absolute monarchy , his stubborn and inflexible reaction to opposition had the same result. When the English and Scottish Parliaments refused to repeal the 1678 and 1681 Test Acts , he suspended them in November 1685 and ruled by decree. Attempts to form a 'King's party' of Catholics, English Dissenters and dissident Scottish Presbyterians

345-582: A £2 coin to celebrate the 350th anniversary of the minting of the first guinea coin. The new coin was designed by the artist Anthony Smith and features a reworking of the spade guinea from the late 18th century. The edge of the coin contains a quotation from the writer Stephen Kemble (1758–1822) : "What is a guinea? ‘Tis a splendid thing." This was the first time in the United Kingdom that one coin has been used to celebrate another. Great Recoinage of 1816 The Great Recoinage of 1816

460-497: A Catholic sympathiser named Anthony Farmer as president, but as he was ineligible under the college statutes, the fellows elected John Hough instead. Both Farmer and Hough withdrew in favour of another candidate selected by James, who then demanded the fellows personally apologise on their knees for 'defying' him; when they refused, they were replaced by Catholics. Attempts to create an alternative 'Kings Party' were never likely to succeed, as English Catholics made up only 1.1% of

575-414: A Tory, and Devonshire , a Whig; Henry Compton, Bishop of London, for the church; Shrewsbury and Lumley for the army, and finally Russell and Sydney for the navy. They promised to support a Dutch landing, but stressed the importance of acting quickly. The Invitation was carried to The Hague on 30 June by Rear Admiral Herbert , disguised as a common sailor. Meanwhile, William's ally Bentinck launched

690-731: A campaign in Germany. At the beginning of September, an invasion remained in the balance, with the States General fearing a French attack via Flanders while their army was in England. However, the surrender of Belgrade on 6 September seemed to presage an Ottoman collapse and release Austrian resources for use in Germany. Hoping to act before Leopold could respond and relieve pressure on the Ottomans, Louis attacked Philippsburg . With France now committed in Germany, this greatly reduced

805-473: A couple of years after decimalisation in 1971 . The guinea was used in a similar way in Australia until that country converted to decimal currency in 1966, after which it became worth $ 2.10. Bids are still made in guineas for the sale of racehorses at auction, at which the purchaser will pay the guinea-equivalent amount but the seller will receive only that number of pounds. The difference (5p in each guinea)

920-402: A fine right-facing bust of Charles II wearing a laurel wreath (amended several times during the reign), surrounded by the legend CAROLVS II DEI GRATIA (" Charles II by the grace of God"), while the reverse showed four crowned cruciform shields bearing the arms of England, Scotland, France, and Ireland, between which were four sceptres, and in the centre were four interlinked "C"s, surrounded by

1035-645: A naval mutiny when a Catholic captain held Mass on his ship. The transfer of 2,500 Catholics from the Royal Irish Army to England in September led to clashes with Protestant troops, some of his most reliable units refused to obey orders, and many of their officers resigned. When James demanded the repatriation of all six regiments of the Scots Brigade in January 1688, William refused but used

1150-503: A propaganda campaign in England, which presented him as a "true Stuart", but one without the faults of either James or Charles II. Much of the "spontaneous" support for William on his landing was organised by Bentinck and his agents. William's key strategic purpose was creating a defensive coalition that would block further French expansion in Europe, an objective not shared by the majority of his English supporters. In 1672, an alliance with

1265-499: A royal proclamation in December of the same year fixed the value of the guinea at 21 shillings. King George II 's guinea pieces are a complex issue, with eight obverses and five reverses used through the 33 years of the reign. The coins were produced in all years of the reign except 1742, 1744, 1754, and 1757. The coins weighed 8.3–8.4 g (0.29–0.30 oz), and were 25–26 mm (0.98–1.02 in) in diameter except for some of

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1380-493: A series of coalitions opposed to the French Revolutionary and Napoleonic regimes. In exchange for large cash subsidies from Britain, nations such as Austria, Prussia and Russia, with armies larger than Britain's, fought against France. The period's economic conflicts, such as Napoleon's Continental System and Britain's retaliatory measures against it, disrupted trade and the availability of markets in Europe for

1495-669: A skirmish between French and Dutch naval vessels in July 1686, William concluded English neutrality was not enough and he needed their active support in the event of war. His relationship with James was affected by the fact both men relied on advisors with relatively limited views; in William's case, mainly English and Scots Presbyterian exiles, the latter with close links to the Protestant minority in Ireland, who saw Tyrconnell's policies as

1610-525: A strong defensive position near Chatham Dockyard , believing the Dutch would seek to establish naval superiority before committing to a landing. While this had been the original plan, winter storms meant conditions deteriorated rapidly for those on the transports; William therefore decided to sail in convoy and avoid battle. The easterly winds that allowed the Dutch to cross prevented the Royal Navy leaving

1725-414: A thousand horses; press reports deliberately exaggerated the damage and claimed the expedition might be postponed until next spring. Dartmouth and his senior commanders considered taking advantage of this by blockading Hellevoetsluis, then decided against it, partly because the stormy weather made it dangerous but also because they could not rely on their men. William replaced his losses and departed when

1840-675: A threat to their existence. Having largely alienated his Tory support base, James depended on a small circle of Catholic converts like Sunderland , Melfort and Perth . Suspicions increased when James sought William's backing for repealing the Test Acts ; he predictably refused, further damaging their relationship. Having previously assumed he was guaranteed English support in a war with France, William now worried he might face an Anglo-French alliance, despite assurances by James he had no intention of doing so. Historians argue whether these assurances were genuine, but James did not fully appreciate

1955-494: A tiny minority confined to parts of the aristocracy and the remote Highlands. Episcopalians had regained control of the kirk in 1660, leading to a series of Presbyterian uprisings, but memories of the bitter religious conflicts of the Civil War period meant the majority preferred stability. In England and Scotland, most of those who backed James in 1685 wanted to retain existing political and religious arrangements, but this

2070-548: A way to stabilise the currency, and the Great Recoinage was the first step in this process. The main aims were the reintroduction of a silver coinage and a change in the gold coinage from the guinea valued at 21 shillings to the slightly lighter sovereign worth 20 shillings. The value of the shilling remained unchanged at twelve pence . This massive recoinage programme by the Royal Mint created standard gold sovereigns and circulating crowns and half-crowns containing

2185-459: Is milled diagonally. The dies for all guineas of Queen Anne and King George I were engraved by John Croker , an immigrant originally from Dresden in the Duchy of Saxony . King George I 's guinea coins were struck in all years between 1714 and 1727, with the elephant and castle sometimes appearing in 1721, 1722, and 1726. His guineas are notable for using five different portraits of the king, and

2300-415: Is possible". On 4/14 October, William responded to the allegations by James in a second declaration, denying any intention to become king or to conquer England, a claim which remains controversial. The swiftness of the embarkations surprised all foreign observers. Louis had in fact delayed his threats against the Dutch until early September because he assumed it then would be too late in the season to set

2415-466: Is traditionally the auctioneer's commission (which thus, effectively, amounts to 5% on top of the sales price free from commission). Many major horse races in Great Britain, Ireland, Canada, New Zealand and Australia bear names ending in "Guineas", even though the real values of their purses today are much higher than the £1,050 or £2,100 suggested by their names. In 2013 the Royal Mint issued

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2530-543: The Bank Charter Act 1844 limited the issuance by English and Welsh banks of non-gold-backed Bank of England notes to up to £14 million. The English private banknote eventually disappeared, leaving the Bank of England with a monopoly of note issue in England and Wales. Local tokens were produced by companies and banks all over the country. Despite an increase in trade, the national debt had increased by 100% by

2645-633: The Electorate of Cologne had enabled France to bypass Dutch forward defences and nearly over-run the Republic, so ensuring an anti-French ruler was vital to prevent a repetition. As an ecclesiastical principality of the Holy Roman Empire, Cologne's ruler was nominated by Pope Innocent XI , in conjunction with Emperor Leopold I . Both Louis and James were in dispute with Innocent over the right to appoint Catholic bishops and clergy; when

2760-484: The Military Guinea . At this time, gold was still scarce and the guinea was trading on the open market for 27 shillings in paper money, so the coining of this issue for the army's special needs was a poor deal for the government, and this was the last issue of guineas to be minted. The reverse of the military guinea is a unique design, showing a crowned shield within a Garter, with HONI SOIT QUI MAL Y PENSE on

2875-656: The Spanish Netherlands threatened both English and Dutch trade. Although William sent James troops to help suppress the 1685 Monmouth Rebellion , their relationship deteriorated thereafter. The Franco-Dutch War , continued French expansion , and expulsion of the Huguenots meant William assumed another war was inevitable, and although the States General of the Netherlands preferred peace,

2990-501: The Thames estuary and intervening. The English fleet was outnumbered 2:1, undermanned, short of supplies, and in the wrong place. Key landing locations in the south-west and Yorkshire had been secured by sympathisers, while both army and navy were led by officers whose loyalty was questionable. Even early in 1686, foreign observers doubted the military would fight for James against a Protestant heir, and William claimed only to be securing

3105-762: The Tower of London . Two events turned dissent into a crisis; the birth of James Francis Edward Stuart on 10 June created the prospect of a Catholic dynasty, while the acquittal of the Seven Bishops on 30 June destroyed James's political authority. In 1677, James's elder daughter and heir Mary married her Protestant cousin William III of Orange , stadtholder of the main provinces of the Dutch Republic . The two initially shared common objectives in wanting Mary to succeed her father, while French ambitions in

3220-536: The frigate Den Briel on 16/26 October. With over 200 ships of various types carrying 40,000 men, the expeditionary force was the largest fleet assembled in European waters up to that date. After departing on 19/29 October, the fleet was scattered by a gale, forcing the Brill back to Hellevoetsluis on 21/31 October. William refused to go ashore, and the fleet reassembled, having lost only one ship but nearly

3335-507: The 'Three Questions', one being a commitment to repeal of the Test Act. In addition, local government and town corporations were purged to create an obedient electoral machine, further alienating the county gentry who had formed the majority of those who backed James in 1685. On 24 August 1688, writs were issued for a general election. The expansion of the military caused great concern, particularly in England and Scotland, where memories of

3450-466: The 1679 to 1681 Exclusion Crisis , dividing the English political class into those who wanted to 'exclude' James from the throne, mostly Whigs , and their opponents, mostly Tories . However, in 1685 many Whigs feared the consequences of bypassing the 'natural heir', while Tories were often strongly anti-Catholic, and their support assumed the continued primacy of the Church of England. Most importantly, it

3565-428: The 1714 coin is notable for declaring him to be Prince Elector of the Holy Roman Empire . The coins weighed 8.3–8.4 grams, were 25–26 millimetres in diameter, and the average gold purity was 0.9135. The 1714 obverse shows the right-facing portrait of the king with the legend GEORGIVS D G MAG BR FR ET HIB REX F D ("George, by the grace of God of Great Britain, France, and Ireland King, Fidei Defensor "), while

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3680-469: The 1727 coins which were 24–25 mm. The average gold purity was 0.9140. Some coins issued between 1729 and 1739 carry the mark EIC under the king's head, to indicate the gold was provided by the East India Company , while some 1745 coins carry the mark LIMA to indicate the gold came from Admiral George Anson 's round-the-world voyage. In the early part of the reign the edge of the coin

3795-564: The 30,000 strong Dutch States Army . With France on the verge of war, their absence was of great concern to the States General and Bentinck hired 13,616 German mercenaries to man Dutch border fortresses, freeing elite units like the Scots Brigade for use in England. The increase could be presented as a limited precaution against French aggression, as the Dutch would typically double or triple their army strength in wartime; William instructed his experienced deputy Schomberg to prepare for

3910-784: The Amsterdam City Council agreed to back William. This was a significant decision since the Council dominated the States of Holland , the most powerful political body in the Dutch Republic which contributed nearly 60% of its budget. French troops entered the Rhineland on 27 September and in a secret session held on 29th, William argued for a pre-emptive strike , as Louis and James would "attempt to bring this state to its ultimate ruin and subjugation, as soon as they find

4025-506: The Civil War left huge resistance to standing armies . In Ireland, Talbot replaced Protestant officers with Catholics; James did the same in England, while basing the troops at Hounslow appeared a deliberate attempt to overawe Parliament. In April 1688, he ordered his Declaration of Indulgence read in every church; when the Archbishop of Canterbury and six other bishops refused, they were charged with seditious libel and confined in

4140-495: The Dutch there was no secret Anglo-French alliance against them, although his denials only increased their suspicions. By confirming France's primary objective was the Rhineland, the second allowed William to move troops from the eastern border to the coast, even though most of the new mercenaries had yet to arrive. On 22 September, the French seized over 100 Dutch ships, many owned by Amsterdam merchants; in response, on 26 September

4255-420: The Dutch, and negating French attempts to build German alliances. William's envoy Johann von Görtz assured Leopold English Catholics would not be persecuted and intervention was to elect a free Parliament, not depose James, a convenient fiction that allowed him to remain neutral. Although his English supporters considered a token force sufficient, William assembled 260 transport ships and 15,000 men, nearly half

4370-457: The Faith, Duke of Brunswick and Lüneburg, Arch-Treasurer and Elector of the Holy Roman Empire"). In 1787 a new design of reverse featuring a spade-shaped shield was introduced, with the same legend; this has become known as the spade guinea . In 1774 almost 20 million worn guineas of King William III and Queen Anne were melted down and recoined as guineas and half-guineas. Towards the end of

4485-771: The Garter, and BRITANNIARUM REX FIDEI DEFENSOR ("King of the Britains, Defender of the Faith") around the edge, and "1813" between the edge inscription and the garter. In the Great Recoinage of 1816 , the guinea was replaced by the pound as the major unit of currency, and in coinage by the sovereign . After the guinea coin ceased to circulate, the guinea continued in use as a unit of account worth 21 shillings (£1.05 in decimalised currency). The guinea had an aristocratic overtone, so professional fees, and prices of land, horses, art, bespoke tailoring, furniture, white goods and other "luxury" items were often quoted in guineas until

4600-408: The Holy Roman Empire") and the year. The edge of the coin is milled diagonally. The value of the guinea had fluctuated over the years from 20 to 30 shillings and back down to 21 shillings and sixpence by the start of George's reign. In 1717, Great Britain adopted the gold standard , at a rate of one guinea to 129.438 grains (8.38 g, 0.30 oz) of crown gold , which was 22 carat gold, and

4715-515: The Holy Roman Empire"). Unlike the two-guinea and five-guinea coins, production of the guinea continued through much of the long reign of King George III . The guineas of King George III weighed 8.4 g (0.27 ozt) and were 25 mm (0.98 in) in diameter, with an average gold purity (at the time of the 1773 assay) of 0.9146 (meaning it contained 7.7 g (0.25 ozt) of gold). They were issued with six different obverses and three reverses in 1761, 1763–79, 1781–99, and 1813. All

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4830-514: The States General authorised an additional 9,000 sailors and 21 new warships. The success of William's invasion would partly depend on domestic support, and at the end of April William met with Edward Russell , unofficial envoy for the Whig opposition. In a conversation recorded by Gilbert Burnet , he requested a formal invitation asking him to "rescue the nation and the religion", with a projected date of end September. William subsequently claimed he

4945-593: The States General treated the operation as a private affair, allowing William use of the Dutch States Navy and army. The nominal commander was Arthur Herbert , but operational control remained with Lieutenant-Admiral Cornelis Evertsen the Youngest and Vice-Admiral Philips van Almonde . Accompanied by Willem Bastiaensz Schepers , the Rotterdam shipping magnate who provided financing, William boarded

5060-582: The Test Acts, unlike James who offered tolerance in return for repeal. In April 1688, Louis XIV announced tariffs on Dutch herring imports, along with plans to support the Royal Navy in the English Channel . James immediately denied making any such request, but fearing it was the prelude to a formal alliance, the Dutch began preparing a military intervention. On the pretext of needing additional resources to deal with French privateers , in July

5175-459: The banker Francisco Lopes Suasso . The biggest concern for Holland was the potential impact on the Dutch economy and politics of William becoming ruler of England; the claim he had no intention of "removing the King from the throne" was not believed. These fears were arguably justified; William's access to English resources permanently diminished Amsterdam's power within the Republic and its status as

5290-943: The birth of his son James Francis Edward on 10 June led a group of domestic opponents to issue the Invitation to William , seeking Dutch support to remove him. The Dutch States General and William were concerned that James might support Louis XIV of France in the Nine Years' War . Exploiting unrest in England and claiming to be responding to the invitation, William landed in Devon with an expeditionary force on 5 November 1688. As William advanced on London, James's army disintegrated and he went into exile in France on 23 December. In April 1689, while Dutch troops occupied London, Parliament made William and Mary joint monarchs of England and Ireland. A separate but similar Scottish settlement

5405-490: The century gold began to become scarce and rise in value. The French Revolution and the subsequent French Revolutionary Wars had drained gold reserves and people started hoarding coins. Parliament passed a law making banknotes legal tender in any amount, and in 1799 the production of guineas was halted, although half- and third-guineas continued to be struck. Following the Act of Union between Great Britain and Ireland in 1800,

5520-561: The coin was 1 in (25.4 mm) throughout Charles II's reign, and the average gold purity (from an assay done in 1773 of samples of the coins produced during the preceding year) was 0.9100. "Guinea" was not an official name for the coin, but much of the gold used to produce the early coins came from Guinea (largely modern Ghana ) in West Africa . The coin was produced every year between 1663 and 1684, with an elephant appearing on some coins each year from 1663 to 1665 and 1668, and

5635-436: The design probably being the work of Johann Crocker, also known as John Croker, since James Roettiers had died in 1698 and his brother Norbert had moved to France in 1695. The coins of William III's reign weighed 8.4 g (0.27 ozt) with an average gold purity of 0.9123. The diameter was 25–26 mm (0.98–1.02 in) until 1700 and 26–27 mm (1.02–1.06 in) in 1701. William's head faces right on his coins, with

5750-471: The distrust caused by his domestic policies. In August 1687, William's cousin de Zuylestein travelled to England with condolences on the death of Mary of Modena 's mother, allowing him to make contact with the political opposition. Throughout 1688, his English supporters provided William detailed information on public opinion and developments, very little of which was intercepted. In October 1687, after fourteen years of marriage and multiple miscarriages, it

5865-534: The election of the Presbyterian John Shorter as Lord Mayor of London in 1687, he insisted on complying with the Test Act, reportedly because of a 'distrust of the King's favour...thus encouraging that which His Majesties whole Endeavours were intended to disannull.' To ensure a compliant Parliament, James required potential MPs to be approved by their local Lord Lieutenant ; eligibility for both offices required positive answers in writing to

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5980-633: The elephant with a howdah on other coins minted from 1674 or 1675 onwards. The elephant, with or without a howdah, was the emblem of the Royal African Company (RAC), which had been granted a monopoly on English trade with Africa in slaves, gold and other goods, from 1672 until 1698; gold imported from Africa by the RAC bore the elephant emblem beneath the monarch's head on the coin. The obverse and reverse of this coin were designed by John Roettiers (1631– c.  1700 ). The obverse showed

6095-532: The establishment of the "manifestly illegal" commission for ecclesiastical causes and its use to suspend the Bishop of London and to remove the Fellows of Magdalen College, Oxford . William also condemned James's attempt to repeal the Test Acts and the penal laws through pressuring individuals and waging an assault on parliamentary boroughs, as well as his purging of the judiciary. James's attempt to pack Parliament

6210-419: The expedition in motion anyway, if their reaction proved negative; typically, such an enterprise would take at least some months. Being ready after the last week of September / first week of October would normally have meant that the Dutch could have profited from the last spell of good weather, as the autumn storms tend to begin in the third week of that month. However, this year they came early. For three weeks,

6325-539: The expedition was that day openly approved by the States of Holland; the same day James issued a proclamation to the English nation that it should prepare for a Dutch invasion to ward off conquest. On 30 September/10 October ( Julian /Gregorian calendars) William issued the Declaration of The Hague (actually written by Fagel), of which 60,000 copies of the English translation by Gilbert Burnet were distributed after

6440-523: The formation of the Association of Protestant Officers, which included senior veterans like Charles Trelawny , John Churchill , and Percy Kirke . On 14 August, Churchill offered his support to William, helping convince him it was safe to risk an invasion; although James was aware of the conspiracy, he took no action. One reason may have been fears over the impact on the army; with a notional strength of 34,000, it looked impressive on paper but morale

6555-665: The function of Parliament was simply to obey. Disputes over the relationship between king and Parliament led to the War of the Three Kingdoms and continued after the 1660 Stuart Restoration . Charles II came to rely on the Royal Prerogative since measures passed in this way could be withdrawn when he decided, rather than Parliament. However, it could not be used for major legislation or taxation. Concern that Charles II intended to create an absolute monarchy led to

6670-633: The grace of God"), while the reverse is the same as in Charles II's reign except for omitting the interlinked "C"s in the centre of the coin. The edge of the coins are milled diagonally. With the removal of James II in the Glorious Revolution of 1688, his daughter Mary and her husband Prince William of Orange reigned jointly as co-monarchs. Their heads appear conjoined on the guinea piece in Roman style, with William's head uppermost, with

6785-678: The inheritance of his wife Mary. While still a dangerous undertaking, the invasion was less risky than it seemed. The Dutch preparations, though carried out with great speed, could not remain secret. The English envoy Ignatius White , the Marquess d'Albeville, warned his country: "an absolute conquest is intended under the specious and ordinary pretences of religion, liberty, property and a free Parliament". Louis threatened an immediate declaration of war if William proceeded and sent James 300,000 livres. Embarkations, begun on 22 September ( Gregorian calendar ), had been completed on 8 October, and

6900-426: The inscription MAG BR FRA ET HIB REX ("Of Great Britain , France , and Ireland King"). The edge was milled to deter clipping or filing, and to distinguish it from the silver half-crown which had edge lettering. Until 1669 the milling was perpendicular to the edge, giving vertical grooves, while from 1670 the milling was diagonal to the edge. John Roettiers continued to design the dies for this denomination during

7015-543: The invasion fleet was prevented by adverse south-westerly gales from departing from the naval port of Hellevoetsluis and Catholics all over the Netherlands and the British kingdoms held prayer sessions that this "popish wind" might endure. However, on 14/24  October, it became the famous " Protestant Wind " by turning to the east. Although most of the warships were provided by the Admiralty of Amsterdam , officially

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7130-595: The killing of 2,000 Vaudois Protestants in 1686, it led to fears Protestant Europe was threatened by a Catholic counter-reformation. These concerns were reinforced by events in Ireland; the Lord Deputy , the Earl of Tyrconnell , wanted to create a Catholic establishment able to survive James's death, which meant replacing Protestant officials at a pace that was inherently destabilising. The majority of those who backed James in 1685 did so because they wanted stability and

7245-615: The king's titles changed, and an Order in Council of 5 November 1800 directed the Master of the Mint to prepare a new coinage, but although designs were prepared, the production of guineas was not authorised. In 1813 it was necessary to strike 80,000 guineas to pay the Duke of Wellington 's army in the Pyrenees , as the local people would accept only gold in payment. This issue has become known as

7360-609: The land war with France, with the Royal Navy taking the lead at sea. This was a significant factor in the Dutch Republic being overtaken as the leading European maritime power by Britain during the War of the Spanish Succession . Despite his Catholicism , James became king in 1685 with widespread backing in all three of his kingdoms. In June 1685, he quickly crushed Protestant risings in Scotland and England , but

7475-459: The landing in England, in which he assured that his only aim was to maintain the Protestant religion, install a free parliament and investigate the legitimacy of the Prince of Wales. He would respect the position of James. William went on to condemn James's advisers for overturning the religion, laws, and liberties of England, Scotland, and Ireland by the use of the suspending and dispensing power;

7590-575: The later coins bear the legend GEORGIVS D G M BR FR ET HIB REX F D . The reverse follows the same general design as before, except the order of the shields is England and Scotland, France, Ireland, and Hanover, with the legend in 1714 BRVN ET LVN DUX S R I A TH ET PR EL (" Duke of Brunswick and Lueneburg , Arch-Treasurer and Prince Elector of the Holy Roman Empire ") and the year, and in other years BRVN ET L DUX S R I A TH ET EL ("Duke of Brunswick and Lueneburg, Arch-Treasurer and Elector of

7705-421: The legend GEORGIVS II DEI GRATIA ( GEORGIUS II DEI GRA between 1739 and 1743), while the reverse features a single large crowned shield with the quarters containing the arms of England+Scotland, France, Hanover, and Ireland, and the legend M B F ET H REX F D B ET L D S R I A T ET E ("King of Great Britain, France and Ireland, Defender of the Faith, Duke of Brunswick and Lüneburg, Arch-Treasurer and Elector of

7820-409: The legend GVLIELMVS ET MARIA DEI GRATIA ("William and Mary by the grace of God"). In a departure from the previous reigns, the reverse featured a totally new design of a large crowned shield which bore the arms of England and France in the first and fourth quarters, of Scotland in the second quarter, and of Ireland in the third quarter, the whole ensemble having a small shield in the centre bearing

7935-486: The legend GVLIELMVS III DEI GRATIA , while the reverse design of William and Mary's reign was judged to be unsuccessful, so the design reverted to that used by Charles II and James II, but with a small shield with the lion of Nassau in the centre, with the legend MAG BR FRA ET HIB REX and the year. The coin had a diagonal milled edge. During the reign of Queen Anne (1702–1714) guineas were produced in all years between 1702 and 1714 except for 1704. The 1703 guinea bears

8050-467: The likelihood seemed to diminish. With the Dutch on the verge of war with France, he did not believe the States General would allow William to make the attempt; if they did, his army and navy were strong enough to defeat it. Reasonable in theory, his reliance on the loyalty and efficiency of the military proved deeply flawed. Both the army and the navy remained overwhelmingly Protestant and anti-Catholic; in July, only personal intervention by James prevented

8165-429: The majority accepted he was correct. This view was widely shared throughout Protestant Europe; in October 1685, Frederick William, Elector of Brandenburg renounced his French alliance for one with the Dutch. In July 1686, other Protestant states formed the anti-French League of Augsburg , with Dutch support; securing or neutralising English resources, especially the Royal Navy , now became key to both sides. Following

8280-453: The many reigns until decimalisation other denominations came and went, such as the threepence , sixpence , florin , and double florin , always weighing exactly one troy pound per 66 shillings (irrespective of fineness, which was reduced to 50% in 1920, and to 0% in 1947). This made 5 sterling silver shillings (which is 1 crown), about the weight of .9091 troy ounce of sterling silver. Glorious Revolution The Glorious Revolution

8395-659: The military or holding public office, and land reform. In 1600, 90% of Irish land was owned by Catholics but following a series of confiscations during the 17th century, this had dropped to 22% in 1685. Catholic and Protestant merchants in Dublin and elsewhere objected to commercial restrictions placing them at a disadvantage to their English competitors. While James's supporters viewed hereditary succession as more important than his personal Catholicism, they opposed his policies of 'Tolerance' under which Catholics would be allowed to hold public office and engage in public life. Opposition

8510-593: The now famous image of St. George and the Dragon by the Italian engraver Benedetto Pistrucci , and eventually copper farthings in 1821. Pistrucci's initial portrait of George III has become known to collectors as the "bull-head George". The weight of the new gold sovereigns was calculated on the basis that the value of one troy pound of standard (22 carat ) gold was £46 14s 6d. Sovereigns therefore weighed 123.2745 grains (7.98805 grams). This standard persists to

8625-402: The obverses show right-facing busts of the king with the legend GEORGIVS III DEI GRATIA with different portraits of the king. The reverse of guineas issued between 1761 and 1786 show a crowned shield bearing the arms of England+Scotland, France, Ireland and Hanover, with the legend M B F ET H REX F D B ET L D S R I A T ET E and the date ("King of Great Britain, France and Ireland, Defender of

8740-498: The occasion". This was accepted by the States, with the objective left deliberately vague, other than making the English "King and Nation live in a good relation, and useful to their friends and allies, and especially to this State". Following their approval, the Amsterdam financial market raised a loan of four million guilders in only three days, with further financing coming from various sources, including two million guilders from

8855-674: The old Elector died in June 1688, Innocent and Leopold ignored the French candidate in favour of Joseph Clemens of Bavaria . After 1678, France continued its expansion into the Rhineland , including the 1683 to 1684 War of the Reunions , additional territorial demands in the Palatinate , and construction of forts at Landau and Traben-Trarbach . This presented an existential threat to Habsburg dominance, guaranteeing Leopold's support for

8970-471: The opportunity to purge those considered unreliable, a total of 104 officers and 44 soldiers. Some may have been Williamite agents, such as Colonel Belasyse , a Protestant with over 15 years of service who returned to his family estates in Yorkshire and made contact with Danby. The promotion of Catholic former Brigade officers like Thomas Buchan and Alexander Cannon to command positions led to

9085-502: The order of arms appearing on the shields becomes England and Scotland, France, England and Scotland, Ireland. The elephant and castle can appear on the coins of 1708 and 1709. The centre of the reverse design shows the Star of the Order of the Garter . The coins weighed 8.3 g (0.29 oz), were 25 mm (0.98 in) in diameter, and had a gold purity of 0.9134. The edge of the coin

9200-510: The other vessels to prevent conspiracy. A lack of funds meant that excluding fireships and light scouting vessels, only 16 warships were available in early October, all third rates or fourth rates that were short of both men and supplies. While the Downs was the best place to intercept a cross-Channel attack, it was also vulnerable to a surprise assault, even for ships fully manned and adequately provisioned. Instead, James placed his ships in

9315-408: The population and Nonconformists 4.4%. Both groups were divided; since private worship was generally tolerated, Catholic moderates feared greater visibility would provoke a backlash. Among Nonconformists, while Quakers and Congregationalists supported repeal of the Test Acts, the majority wanted to amend the 1662 Act of Uniformity and be allowed back into the Church of England. When James ensured

9430-495: The ports of Plymouth and Torbay. In the north, a force organised by Belasyse and Danby prepared to seize York , its most important city, and Hull , its largest port. Herbert had been replaced by Dartmouth as commander of the fleet when he defected in June but many captains owed him their appointments and were of doubtful loyalty. Dartmouth suspected Berkeley and Grafton of plotting to overthrow him; to monitor them, he placed their ships next to his and minimised contact between

9545-556: The present day, more than two centuries later. To put a gold standard into effect, and avoid the pitfalls of bimetallism , silver coins were declared legal tender only for sums of money up to 40 shillings. The recoinage of silver in Great Britain after a long drought produced a burst of coins: the mint struck nearly 40 million shillings between 1816 and 1820, 17 million half-crowns and 1.3 million silver crowns. The value of one troy pound (weighing 5,760 grains (373 g) of standard sterling silver (0.925 fineness ))

9660-494: The primacy of the Protestant Church of England and Church of Scotland . When his policies appeared to undermine the existing political and religious order, the result was to alienate his English and Scottish supporters and destabilise Ireland. Stuart political ideology derived from James VI and I , who in 1603 had created a vision of a centralised state, run by a monarch whose authority came from God , and where

9775-404: The products of Britain's growing mercantile and colonial empires. Finally, insufficient supplies of silver and copper led to a shortage of coins. Privately owned banks in Great Britain and Ireland had long been free to issue their own banknotes , but as gold shortages affected the supply of money , the note-issuing powers of the banks were gradually limited by various Acts of Parliament , until

9890-460: The prospect of a Catholic successor, the " Invitation to William " was quickly drafted by Henry Sydney , later described by Whig historians as "the great wheel on which the Revolution rolled". The signatories provided no considerable political power, but they were selected to make it seem like they represented a broad spectrum, and provided William with an essential propaganda tool. Danby ,

10005-417: The rampant lion of Nassau ; the legend on the obverse read MAG BR FR ET HIB REX ET REGINA (Of "Magna Britannia" Great Britain, "Francia" France and "Hibernia" Ireland King and Queen) and the year. By the early part of this reign the value of the guinea had increased to nearly 30 shillings. The guineas of this reign weighed 8.5 g (0.30 oz), were 25–26 mm (0.98–1.02 in) in diameter, and were

10120-435: The reign of King James II . In this reign, the coins weighed 8.5 g (0.27 ozt) with a diameter of 25–26 mm (0.98–1.02 in), and were minted in all years between 1685 and 1688, with an average gold purity of 0.9094. Coins of each year were issued both with and without the elephant-and-castle mark. The king's head faces left in this reign, and is surrounded by the inscription IACOBVS II DEI GRATIA ("James II by

10235-508: The reverse showed the arms of England, Scotland, France, and Ireland in order, separated by sceptres and with a central rose, and the legend MAG BR FRA ET HIB REG ("Of Great Britain, France, and Ireland Queen") and the year. With the Act of Union, the English and Scottish arms appear conjoined on one shield, with the left half being the English arms and the right half being the Scottish arms, and

10350-418: The rule of law, qualities frequently undermined by his actions. After suspending Parliament in November 1685, he sought to rule by decree; although the principle was not disputed, the widening of its scope caused considerable concern, particularly when judges who disagreed with its application were dismissed. He then alienated many by perceived attacks on the established church; Henry Compton, Bishop of London ,

10465-588: The sale of rams . In each case a guinea meant an amount of one pound and one shilling (21 shillings, £1.05 in decimal notation). The first guinea was produced on 6 February 1663 (361 years ago)  ( 1663-02-06 ) ; a proclamation of 27 March 1663 made the coins legal currency. One troy pound of 11 ⁄ 12 (0.9133) fine gold (22 carat or 0.9167 pure by weight) would make 44 + 1 ⁄ 2 guineas, each thus theoretically weighing 129.438 grains (8.385 grams crown gold, 7.688 grams fine gold, or 0.247191011 ozt (troy ounces) fine gold). The coin

10580-607: The start of the 19th century. A series of bad harvests pushed up food prices and this culminated in riots in 1801–02. Corn prices halved at the end of the wars, when trade with Europe resumed. The Corn Laws of 1815 were intended to protect the price of domestic grain, but this kept grain prices high and depressed the domestic market for manufactured goods , because people had to use so much of their money to buy food. Likewise, European countries that relied on exporting corn to Britain in order to buy British manufactured goods were no longer able to do so. The government needed to find

10695-399: The threat to the Dutch. Instead, Louis attempted to intimidate the States General, and on 9 September, his envoy D'Avaux handed them two letters. The first warned an attack on James meant war with France, the second any interference with French operations in Germany would end with the destruction of the Dutch state. Both misfired; convinced Louis was trying to drag him into war, James told

10810-455: The wind changed on 1/11 November, this time heading for Harwich where Bentinck had prepared a landing site. It has been suggested this was a feint to divert some of Dartmouth's ships north, which proved to be the case and when the wind shifted again, the Dutch armada sailed south into the Strait of Dover . In doing so, they twice passed the English fleet, which was unable to intercept because of

10925-684: The word VIGO under the Queen's bust, to commemorate the origin of the gold taken from Spanish ships captured at the Battle of Vigo Bay . With the Acts of Union 1707 creating a unified Kingdom of Great Britain through the union of the Parliament of Scotland with the Parliament of England , the design of the reverse of the first truly British guinea was changed. Until the Union, the cruciform shields on

11040-414: The work of James and Norbert Roettiers. They were produced in all years between 1689 and 1694 both with and without the elephant and castle; in 1692 and 1693 the mark of the elephant alone was also used. Following the death of Queen Mary from smallpox in 1694, William continued to reign as William III. The guinea coin was produced in all years from 1695 to 1701, both with and without the elephant and castle,

11155-451: The world's leading commercial and financial centre. Neither James nor Sunderland trusted Louis, correctly suspecting that his support would continue only so long as it coincided with French interests, while Mary of Modena claimed his warnings were simply an attempt to drag England into an unwanted alliance. As a former naval commander, James appreciated the difficulties of a successful invasion, even in good weather, and as autumn approached,

11270-415: Was 'forced' to take control of the conspiracy when Russell warned him the English would rise against James even without his help, and he feared this would lead to a republic, depriving his wife of her inheritance. Although this version is strongly disputed, Zuylestein returned to England in June, ostensibly to congratulate James on his new son, in reality to co-ordinate with William's supporters. Spurred by

11385-575: Was advised it was better not to raise them. Widespread discontent and growing hostility to the Stuart regime were particularly apparent in North-East and South-West England, the two landing places identified by William. A Tory whose brother Jonathan was one of the Seven Bishops, Trelawny's commitment confirmed support from a powerful and well-connected West Country bloc, allowing access to

11500-745: Was an attempt by the government of the United Kingdom of Great Britain and Ireland to re-stabilise its currency, the pound sterling , after the economic difficulties brought about by the French Revolutionary Wars and the Napoleonic Wars . The French Revolutionary Wars (1792–1802) and the Napoleonic Wars (1803–1815) led to financial instability in Britain. This was due to the cost of direct military and economic warfare against France as well as Britain's financing of

11615-469: Was announced the Queen was pregnant, Melfort immediately declaring it was a boy. When James then wrote to Mary urging her to convert to Catholicism, it convinced many he was seeking a Catholic heir, one way or the other and may have been a deciding factor in whether to invade. Early in 1688, a pamphlet circulated in England written by Dutch Grand Pensionary Gaspar Fagel ; this guaranteed William's support for freedom of worship for Dissenters and retaining

11730-538: Was brittle while many were untrained or lacked weapons. It also had to fill policing roles previously delegated to the militia, which had been deliberately allowed to decay; most of the 4,000 regular troops brought from Scotland in October had to be stationed in London to keep order. In October, attempts were made to restore the militia but many members were reportedly so angry at the changes made to local corporations, James

11845-483: Was fixed by coining it into 66 shillings (or its equivalent in other denominations). This established the weight of all silver coins (and their cupro-nickel successors), and their decimal new pence replacements, from 1816 until the 1990s, when new smaller coins were introduced. The silver coins initially produced were shillings weighing 87.2727 grains (5.65518 g), half-crowns of 218.1818 gr (14.13794 g) and crowns of 436.3636 gr (28.27589 g). Over

11960-587: Was forced into exile less than four years later. Modern historians argue James failed to appreciate how much Royal power relied on support from the landed gentry , and the loss of that support fatally damaged his regime. The vast majority of the gentry in England and Scotland were Protestant , while even in largely Catholic Ireland a disproportionate number were members of the Protestant Church of Ireland . Although willing to accept James's personal religious beliefs, his backers did so only so long as he maintained

12075-405: Was in danger of removing "the last and great remedy for all those evils". "Therefore", William continued, "we have thought fit to go over to England, and to carry over with us a force sufficient, by the blessing of God, to defend us from the violence of those evil Counsellors ... this our Expedition is intended for no other design, but to have, a free and lawful Parliament assembled as soon as

12190-401: Was led by devout Anglicans who argued that the measures he proposed were incompatible with the oath he had sworn as king to uphold the supremacy of the Church of England. According to opponents, demanding that Parliament approve his measures James was not only to be breaking his own word but requiring others to do the same. Parliament refused to comply, despite being "the most Loyal Parliament

12305-516: Was made in June. Domestically, the Revolution confirmed the primacy of Parliament over the Crown in both England and Scotland. In terms of external policy, until his death in 1702, William combined the roles of Dutch stadtholder and British monarch. Both states thus became allies in resisting French expansion, an alliance which persisted for much of the 18th century, despite differing objectives. Under William's leadership, Dutch resources were focused on

12420-403: Was milled diagonally, but from 1739 following the activities of a particularly bold gang of guinea filers for whom a reward was posted, the milling was changed to produce the shape of a chevron or arrowhead. In 1732 the old hammered gold coinage was demonetised, and it is thought that some of the old coins were melted down to create more guineas. The obverse has a left-facing bust of the king with

12535-511: Was not the case in Ireland. While he was guaranteed support from the Catholic majority, James was also popular among Irish Protestants, since the Church of Ireland depended on Royal support for its survival, while Ulster was dominated by Presbyterians who supported his tolerance policies. However, religion was only one factor; of equal concern for Catholics were laws barring them from serving in

12650-428: Was originally worth twenty shillings (one pound), but an increase in the price of gold during the reign of King Charles II led to the market trading it at a premium. The price of gold continued to increase, especially in times of trouble, and by the 1680s, the coin was worth 22 silver shillings . Indeed, in his diary entries for 13 June 1667, Samuel Pepys records that the price was 24 to 25 shillings. The diameter of

12765-569: Was politically short-sighted, since it rewarded those who joined the 1685 rebellions and undermined his supporters. Demanding tolerance for Catholics was also badly timed. In October 1685 Louis XIV of France issued the Edict of Fontainebleau revoking the 1598 Edict of Nantes which had given French Protestants the right to practise their religion; over the next four years, an estimated 200,000 to 400,000 went into exile, 40,000 of whom settled in London. Combined with Louis's expansionist policies and

12880-531: Was seen as a short-term issue; James was 52, his marriage to Mary of Modena remained childless after 11 years, and the heirs were his Protestant daughters, Mary and Anne . There was much greater sympathy in Scotland for a 'Stuart heir', and the 1681 Succession Act confirmed the duty of all to support him, 'regardless of religion.' Over 95 percent of Scots belonged to the national church or kirk; even other Protestant sects were banned, and by 1680, Catholics were

12995-572: Was suspended for refusing to ban John Sharp from preaching after he gave an anti-Catholic sermon. He often made things worse by political clumsiness; to general fury, the Ecclesiastical Commission of 1686 established to discipline the Church of England included suspected Catholics like the Earl of Huntingdon . This was combined with an inability to accept opposition; in April 1687, he ordered Magdalen College, Oxford , to elect

13110-418: Was the deposition of James II and VII in November 1688. He was replaced by his daughter Mary II , and her Dutch husband, William III of Orange , who was also James's nephew. The two ruled as joint monarchs of England , Scotland , and Ireland until Mary's death in 1694, when William became ruler in his own right. Jacobitism as a political movement persisted into the late 18th century. William's invasion

13225-520: Was the last successful invasion of England . Despite his own Catholicism , James became king in February 1685 with widespread backing from the Protestant majorities in England and Scotland, as well as largely Catholic Ireland. His policies quickly eroded support, and by June 1688, dissatisfaction turned into active, yet largely unarmed, resistance. The prospect of a Catholic dynasty following

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