A Guinea
- Thread starter Guest_
- Start date
£1.05
Its the old form of money, basically they use guineas as a way of ensuring an auctioneers comission.
As an auctioneer charges 5%, therefore the Guinea which is £1.05 is used to apply the auctioneers comission without needing to show it as comission.
Hope that helps.
You get €1.22 today for the £1 so would be €1.27
Its the old form of money, basically they use guineas as a way of ensuring an auctioneers comission.
As an auctioneer charges 5%, therefore the Guinea which is £1.05 is used to apply the auctioneers comission without needing to show it as comission.
Hope that helps.
You get €1.22 today for the £1 so would be €1.27
Irish Stamp
Forum Moderator
1.27 being the spot rate, the mid-rate between which the banks buy and sell between themselves. 1.22 what they sell at and 1.32 what they buy at 
