This banknote is an example of the many issued by provincial banks in England between about 1797 and 1836. By 1810 they were providing one half of the total currency of notes and coins.
Continuing exports of gold, fear of invasion and subsequent hoarding of cash had resulted in the Bank Restriction Act of May, 1797. This led to an increase in provincial bankers and over issue of notes, reaching a maximum of thirty million in 1808.
The guinea was introduced as the standard English gold coin in 1663. It was originally made using gold obtained from Guinea in West Africa. It was replaced by the sovereign in 1816.