Five Guineas: William III (obverse); Four Shields and Lion of Nassau (reverse)

There were three types used on the five guinea coin of William III, who continued to reign long after the death of Mary. As hammered coinage was still in circulation along with the mill coins, the government decided to call in all the remaining hammered pieces in 1695, completing the reform of the coinage. This affected mostly the silver coinage. Gold was gradually reduced until the value of the guinea, when set against the silver coinage, was 21 shillings and 6 pence. The guinea finally settled at 21 shillings.