Guinea vs. Pound — What's the Difference?
Edited by Tayyaba Rehman — By Fiza Rafique — Updated on March 10, 2024
A guinea was historically valued at 21 shillings, while a pound is equivalent to 20 shillings.
Difference Between Guinea and Pound
Table of Contents
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Key Differences
The guinea, used historically in Britain, was equivalent to 21 shillings or 1.05 pounds in pre-decimal currency. Its use began in the 17th century and was often associated with professional fees, luxury goods, and horse racing. The pound, on the other hand, is the current currency of the United Kingdom, valued at 100 pence in the modern decimal system. It serves as a standard monetary unit for daily transactions and economic activities.
While the guinea no longer circulates as currency, its legacy persists in certain British traditions, particularly in auctions, horse racing, and some professional services, where fees and prices are sometimes still quoted in guineas. The pound, whereas, is a fully functional currency used for all forms of financial transactions in the UK, including commerce, salaries, and international trade.
The guinea was originally valued to reflect the gold content in the coins minted from gold sourced from the Guinea region of West Africa. This historical context ties the guinea to Britain's trade and colonial history. The pound's value, however, is determined by modern economic factors such as inflation, monetary policy, and international exchange rates, reflecting its role as a contemporary currency.
The transition from the guinea to the pound as the primary unit of currency reflects changes in British economic practices, moving from a complex system of pounds, shillings, and pence to a simplified, decimal-based currency system. This change, implemented in 1971, made financial calculations easier and facilitated more efficient trade and commerce.
Despite the guinea's obsolescence as a currency, its use in certain contexts highlights the enduring influence of historical traditions in British society. The pound's widespread use, on the other hand, underscores its importance as a cornerstone of the UK's economy and its significance in global financial markets.
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Comparison Chart
Value
Historically 21 shillings or 1.05 pounds
100 pence in modern decimal system
Usage
Used historically, now in specific traditional contexts
Current currency of the UK, used in all economic transactions
Origin
Named after the Guinea region of West Africa
Derived from the Latin word "poundus" meaning weight
Transition
No longer in circulation as currency
Adopted decimal system in 1971 for simplicity
Context
Often associated with luxury goods and professional fees
Standard monetary unit for commerce, salaries, and trade
Compare with Definitions
Guinea
The guinea was a coin that had a value of 21 shillings.
An item priced at one guinea would cost 1 pound and 1 shilling.
Pound
The pound is the official currency of the United Kingdom.
Prices in British shops are displayed in pounds.
Guinea
The guinea is no longer used as currency but persists in certain traditions.
Some British auction houses still list prices in guineas.
Pound
The pound is one of the world's major currencies, widely used in international transactions.
The pound is a reserve currency in global finance.
Guinea
The guinea remains a traditional unit in British horse racing prize money.
The Derby's prize might be quoted in guineas.
Pound
Since 1971, the pound has been divided into 100 pence.
£1 is equivalent to 100 pence.
Guinea
Originally, guineas were made from gold imported from Africa's Guinea region.
The gold guinea coin featured designs reflecting its African gold origin.
Pound
The pound is symbolized by £.
An item costing ten pounds is written as £10.
Guinea
Guineas were often used in pricing high-end goods and services.
Tailors and lawyers traditionally quoted their fees in guineas.
Pound
The pound's history dates back over a thousand years, making it one of the oldest currencies.
The pound originated in Anglo-Saxon England as a unit of weight.
Guinea
Guinea ( (listen)), officially the Republic of Guinea (French: République de Guinée), is a coastal country in West Africa. Formerly known as French Guinea (French: Guinée française), the modern country is sometimes referred to as Guinea-Conakry, after its capital and largest city Conakry, to distinguish it from other countries with "Guinea" in the name and the eponymous region, such as Guinea-Bissau and Equatorial Guinea.
Pound
A unit of weight equal to 16 ounces (453.592 grams).
Guinea
A gold coin issued in England from 1663 to 1813 and worth one pound and one shilling.
Pound
A unit of apothecary weight equal to 12 ounces (373.242 grams). See Table at measurement.
Guinea
The sum of one pound and one shilling.
Pound
A unit of weight differing in various countries and times.
Guinea
Offensive Slang Used as a disparaging term for a person of Italian birth or descent.
Pound
See pound-force.
Guinea
A gold coin originally worth twenty shillings; later (from 1717 until the adoption of decimal currency) standardised at a value of twenty-one shillings.
Pound
See pound-mass.
Guinea
Synonym of guinea fowl
Pound
The primary unit of currency in the United Kingdom, worth 20 shillings or 240 old pence before the decimalization of 1971. Also called pound sterling.
Guinea
A person of Italian descent.
Pound
See Table at currency.
Guinea
A district on the west coast of Africa (formerly noted for its export of gold and slaves) after which the Guinea fowl, Guinea grass, Guinea peach, etc., are named.
Pound
The primary unit of currency in Ireland and Cyprus before the adoption of the euro.
Guinea
A gold coin of England current for twenty-one shillings sterling, or about five dollars, but not coined since the issue of sovereigns in 1817.
The guinea, so called from the Guinea gold out of which itwas first struck, was proclaimed in 1663, and to go for twenty shillings; but it never went for less than twenty-one shillings.
Pound
A primary unit of currency in Scotland before the Act of Union (1707). Also called pound scots.
Guinea
A former British gold coin worth 21 shillings
Pound
The pound key on a telephone.
Guinea
Offensive terms for a person of Italian descent
Pound
A heavy blow.
Guinea
A republic in eastern Africa on the Atlantic; formerly a French colony; achieved independence from France in 1958
Pound
The sound of a heavy blow; a thump.
Guinea
A west African bird having dark plumage mottled with white; native to Africa but raised for food in many parts of the world
Pound
The act of pounding.
Pound
An animal shelter, especially one operated by a public agency to house stray or confiscated animals.
Pound
A public enclosure for the confinement of stray livestock.
Pound
A tank or submerged cage, as on a boat, in which live fish or shellfish are kept.
Pound
New England An establishment at which live lobsters are kept and sold, often also offering no-frills restaurant service.
Pound
A place in which vehicles impounded by the authorities are held until redeemed by their owners.
Pound
(Archaic) A prison.
Pound
To strike repeatedly and forcefully, especially with the hand or a tool
Pounded the nail with a hammer.
Pound
To assault with military force
Pounded the bunker with mortars.
Pound
To beat to a powder or pulp; pulverize or crush
Pound corn into meal.
Pound
To instill by persistent, emphatic repetition
Pounded knowledge into the students' heads.
Pound
To produce energetically, as from forceful use of the hands. Often used with out
"a tinny piano pounding out Happy Birthday down the block" (Laura Kascischke).
Pound
To cause harm or loss to; affect adversely
Stocks that were pounded when energy prices rose.
Pound
To defeat soundly
Pounded their rivals in the season finale.
Pound
To attack verbally; criticize
Was pounded for months in the press.
Pound
(Slang) To drink quickly (a beverage, especially an alcoholic one). Often used with back or down
Pounded back a few beers after work.
Pound
To strike vigorous, repeated blows
He pounded on the table.
Pound
To move along heavily and noisily
The children pounded up the stairs.
Pound
To pulsate rapidly and heavily; throb
My heart pounded.
Pound
To move or work laboriously
A ship that pounded through heavy seas.
Pound
To confine (an animal) in a pound.
Pound
A unit of weight in various measurement systems
Pound
Ellipsis of pound weight
Pound
The translated name of various non-English units of measure
Pound
A unit of mass in various measurement systems
Pound
Ellipsis of pound mass
Pound
The translated name of various non-English units of measure
Pound
A unit of mass equal to 16 avoirdupois ounces (= 453.592 g). Today this value is the most common meaning of "pound" as a unit of weight.
Pound
A unit of mass equal to 12 troy ounces (≈ 373.242 g). Today, this is a common unit of mass when measuring precious metals, and is little used elsewhere.
Pound
A unit of force in various measurement systems
Pound
Ellipsis of pound force
Pound
The translated name of various non-English units of measure
Pound
A unit of currency in various currency systems
Pound
The translated name of various non-English units of currency
Pound
The unit of currency used in the United Kingdom and its dependencies. It is divided into 100 pence. Symbol £.
Pound
Any of various units of currency used in Egypt, Lebanon, Sudan and Syria, and formerly in the Republic of Ireland, Cyprus and Israel.
Pound
Any of various units of currency formerly used in the United States.
The Rhode Island pound; the New Hampshire pound
Pound
(US) The symbol # (octothorpe, hash, number sign)
Pound
A place for the detention of stray or wandering animals.
Dog pound
Pound
(metonymy) The people who work for the pound.
Pound
(UK) A place for the detention of automobiles that have been illegally parked, abandoned, etc.
Pound
A section of a canal between two adjacent locks.
Pound
A kind of fishing net, having a large enclosure with a narrow entrance into which fish are directed by wings spreading outward.
Pound
(Newfoundland) a division inside a fishing stage where cod is cured in salt brine
Pound
A hard blow.
Pound
To wager a pound on.
Pound
To confine in, or as in, a pound; to impound.
Pound
(transitive) To strike hard, usually repeatedly.
Pound
(transitive) To crush to pieces; to pulverize.
Pound
To eat or drink very quickly.
You really pounded that beer!
Pound
To pitch consistently to a certain location.
The pitcher has been pounding the outside corner all night.
Pound
To beat strongly or throb.
As I tiptoed past the sleeping dog, my heart was pounding but I remained silent.
My head was pounding.
Pound
To advance heavily with measured steps.
Pound
(engineering) To make a jarring noise, as when running.
The engine pounds.
Pound
To strike repeatedly with some heavy instrument; to beat.
With cruel blows she pounds her blubbered cheeks.
Pound
To comminute and pulverize by beating; to bruise or break into fine particles with a pestle or other heavy instrument; as, to pound spice or salt.
Pound
To strike heavy blows; to beat.
Pound
To make a jarring noise, as in running; as, the engine pounds.
Pound
To confine in, or as in, a pound; to impound.
Pound
An inclosure, maintained by public authority, in which cattle or other animals are confined when taken in trespassing, or when going at large in violation of law; a pinfold.
Pound
A level stretch in a canal between locks.
Pound
A kind of net, having a large inclosure with a narrow entrance into which fish are directed by wings spreading outward.
Pound
A certain specified weight; especially, a legal standard consisting of an established number of ounces.
Pound
A British denomination of money of account, equivalent to twenty shillings sterling, and equal in value to about $4.86. There is no coin known by this name, but the gold sovereign is of the same value.
Pound
16 ounces;
He tried to lift 100 pounds
Pound
The basic unit of money in Great Britain; equal to 100 pence
Pound
The basic unit of money in Syria; equal to 100 piasters
Pound
The basic unit of money in the Sudan; equal to 100 piasters
Pound
The basic unit of money in Lebanon; equal to 100 piasters
Pound
Formerly the basic unit of money in Ireland; equal to 100 pence
Pound
The basic unit of money in Egypt; equal to 100 piasters
Pound
The basic unit of money in Cyprus; equal to 100 cents
Pound
A nontechnical unit of force equal to the mass of 1 pound with an acceleration of free fall equal to 32 feet/sec/sec
Pound
United States writer who lived in Europe; strongly influenced the development of modern literature (1885-1972)
Pound
A public enclosure for stray or unlicensed dogs;
Unlicensed dogs will be taken to the pound
Pound
The act of pounding (delivering repeated heavy blows);
The sudden hammer of fists caught him off guard
The pounding of feet on the hallway
Pound
Hit hard with the hand, fist, or some heavy instrument;
The salesman pounded the door knocker
A bible-thumping Southern Baptist
Pound
Strike or drive against with a heavy impact;
Ram the gate with a sledgehammer
Pound on the door
Pound
Move heavily or clumsily;
The heavy man lumbered across the room
Pound
Move rhythmically;
Her heart was beating fast
Pound
Partition off into compartments;
The locks pound the water of the canal
Pound
Shut up or confine in any enclosure or within any bounds or limits;
The prisoners are safely pounded
Pound
Place or shut up in a pound;
Pound the cows so they don't stray
Pound
Break down and crush by beating, as with a pestle;
Pound the roots with a heavy flat stone
Common Curiosities
What symbol is used for the pound?
The symbol used for the pound is £.
How did the value of a guinea compare to a pound?
A guinea was valued slightly more than a pound, specifically 1.05 pounds or 21 shillings.
When did the UK transition to the decimal currency system?
The UK transitioned to the decimal currency system in 1971, simplifying the currency to pounds and pence.
What was a guinea worth in British currency?
A guinea was historically worth 21 shillings, or 1.05 pounds, in British currency.
Was the guinea made of gold?
Yes, the original guinea coins were made from gold, often sourced from West Africa.
Why was the guinea valued at 21 shillings?
The guinea's value of 21 shillings reflected the gold content in the coins, originally sourced from the Guinea region of West Africa.
Is the guinea still used as currency today?
The guinea is no longer used as currency but remains in certain traditional contexts, such as in horse racing and auction prices.
What is the current British currency?
The current British currency is the pound, divided into 100 pence.
Why do some professions quote fees in guineas?
Quoting fees in guineas is a traditional practice, seen as adding prestige and reflecting the profession's historical pricing conventions.
Can you still use guineas in transactions?
Guineas are not used in regular transactions but may appear in pricing for auctions, horse racing, and certain professional fees as a nod to tradition.
How is the pound significant in global finance?
The pound is a major currency used in international finance, serving as a reserve currency in many global transactions.
What are some traditional contexts where guineas are still used?
Guineas are still used in the pricing of art, antiques at auction, and in setting professional fees and horse racing prize money in the UK.
What led to the obsolescence of the guinea?
The move towards a simpler, decimal-based currency system and the practical considerations of everyday transactions led to the guinea's obsolescence.
What was the significance of the gold content in guinea coins?
The gold content signified wealth and value, with the guinea's association with gold making it a prestigious currency for luxury transactions.
How has the pound evolved over time?
The pound has evolved from a unit of weight to a modern currency, adapting to changes in the economy and monetary policy.
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Written by
Fiza RafiqueFiza Rafique is a skilled content writer at AskDifference.com, where she meticulously refines and enhances written pieces. Drawing from her vast editorial expertise, Fiza ensures clarity, accuracy, and precision in every article. Passionate about language, she continually seeks to elevate the quality of content for readers worldwide.
Edited by
Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
