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The British Occupy the Cape
The monetary history of the Cape reflected the political and economic struggles that both the Dutch and the British faced in governing this far away outpost.
The Guinea was introduced into the Cape Colony economy when the British occupied the Cape Colony which in time would disappear as a coin, but would remain in circulation for another 150 years as "money of account, with an air of dignity about it.
The Guinea was minted in in Britain from about 1663 to 1813. The word refers to the Guinea Coast of Africa, from whence came the gold used for coining it. It was indeed called the "Guinea Pound" at one stage and was originally the British Pound with a nominal value of 20 Shillings. From 1717 it was accepted as legal tender for 21 shillings or 252 pennies, but as a result of its pure intrinsic worth and the fluctuating price of gold and silver, it occasionally rose even higher, being worth £1-10 or (30 shillings) in 1694.
Gold 5-, 1/2-, 1/3- and 1/4-guinea pieces were also coined; the last coinage date for the 1/2- and the 1/3-guinea pieces being 1813 and for the 1/4-guinea 1762. Very few silver and copper coins were minted in the last half of the 18th century, and the smaller denominations of the guinea were intended to meet the need
for the smaller coin values. Source C L Engelbrecht Money in South Africa
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