1 Guinea - George III 3rd portrait

The third portrait of George III on the guinea was modeled by Richard Yeo, who served as chief engraver at the Tower Mint until his death in 1779. These guineas circulated heavily during a period when British monetary policy was under acute strain — the Seven Years' War had ended in 1763, leaving substantial Crown debt, and gold coin was being systematically melted or exported as silver coinage collapsed in real value relative to bullion prices.

By the early 1770s, worn guineas of this type were so prevalent that the Royal Mint undertook a formal survey of circulation coin quality — a precursor to the eventual great recoinage debates of the following decade.