3 ms·
Guineas are still in use, particularly in livestock sales.
by Gordonjcp 4y ago
Guineas are still in use, particularly in livestock sales.
- biorach 4y agothat's not totally accurate. The Guinea coin is no longer legal tender and it is not a unit of currency Livestock sales are priced in Guineas as a convention > 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) is traditionally the auctioneer's commission (which thus, effectively, amounts to 5% on top of the sales price free from commission). https://en.m.wikipedia.org/wiki/Guinea_(coin) https://en.m.wikipedia.org/wiki/Guinea_(coin)