Silver Ounce 2022 Military Guinea, Coin from Saint Helena - detailed information

Saint Helena is a small island in the South Atlantic Ocean which is part of the British overseas territory of Saint Helena, Ascension and Tristan da Cunha. The currency of the island is the Saint Helena pound, fixed at parity with the pound sterling. The island has authorised some private mints to issue coins under its jurisdiction, which come in a variety of sizes - including in the popular silver ounce (1 oz silver) format, usually denominated as £1.

This bullion silver ounce coin denominated as £1 is part of the Guniea coin range by The East India Company.

The guinea was once the most respected and internationally recognised coinage in the world. First issued in 1663 during the reign of King Charles II, the guinea gold coins went through various designs and were issued by England and its many overseas colonies for nearly 200 years. The gold coin was the first machine-coin gold piece from the Royal Mint and it would eventually become an international symbol of Great Britain's growing power and influence during the 17th and 18th centuries.

This coin is a modern re-creation of the 1813 gold guinea issued by the United Kingdom - the last issue in the denomination, which was equal to 21 shillings - thus, 260 pre-decimal pence, equal to one pound and 5 new pence after decimalisation - hence the strange face value of the coin. The denomination was replaced in 1817 by the sovereign, equal to 20 shillings or exactly £1.

The "Military" Guinea was struck specifically for the Duke of Wellington’s army searching for Napoleon in France. Locals in the Pyrenees insisted on payment in gold and so, this special Guinea was struck to pay for supplies and support resulting in its reference as the "military" Guinea. Minted and shipped directly to Wellington to aid his campaign, it is likely that recipients of the original 1813 Guinea melted them quickly to avoid being caught with them. Many believe that without this coin Wellington would not have had the resource to defeat Napoleon and indeed the Battle of Waterloo may never have taken place.

80,000 military Guineas were minted for the Duke of Wellington’s troops, struck with gold largely melted down from The East India Company’s Mohur and Pagodas imported from India. An "uncirculated" coin, it is thought to be the rarest Guinea of King George III’s reign.