Coinage of Saxony

A 1768AusbeutetalerofElector Frederick Augustus III of Saxonyfrom the Dresden Mint. The inscription reads THE BLESSING OF MINING / X A FINE MARCK

The history ofSaxon coinageorMeissen-Saxon coinagecomprises three major periods: thehigh medievalregional pfennigperiod (bracteateperiod), thelate medievalpfennigperiod and thethalerperiod, which ended with the introduction of themarkin 1871/72.Rich silver deposits, which were discovered nearFreibergafter the middle of the 12th century, helped Saxony to a leading position in German coinage.

The Saxon pfennigs (Sachsenpfennige) minted in easternSaxonyare also included, as described in Walther Haupt'sSächsischer Münzkunde( "Saxon Coinage" ). They were minted on the basis of theCarolingian monetary reform,on which the oldestMeissencoinage is based.The different names of these pfennig types indicate a still unclear position within medievalnumismatics.

Hochrandpfennig(Sachsenpfennig)

Main article:Sachsenpfennig

Sachsenpfennige(wooden church, beam cross, cloverleaf cross and crosier pfennig)

The 10th and 11th century pfennig type known as the Saxon pfennig (Sachsenpfennig) with a raised edge is the most common pfennig type of this time, along with theOtto Adelheid pfennig.Saxon pfennigs are the oldest coins minted in Saxony. Thepfennigsof the Saxon imperial period with the inscription OTTO or ODDO in the portal of a church were presumably minted under EmperorOtto I(936–973) or soon afterwards inMagdeburgand belong to the oldest group of Saxon high-rimmed pfennigs.

TheMargraves of Meissencontinued to mint asministerialeson behalf of theRoman-German Empire.MargraveEckard I of Meissen(985–1002) had pfennigs minted in the imperial mint atMeissen.Thedenariuswith the inscriptions EKKINHARD and MISSNI is the oldest known Meissen coin.

The so-called "thin pfennig", 11th century, Magdeburg Imperial Mint

.

Decline of pfennig coinage

The conversion ofCharlemagne's poundinto a monetary pound (Zählpfund) during the reign of the Frankish Emperor,Henry IV,(1056–1106) resulted in the obsolescence of pfennigs minted on both sides. The pound weight (Gewichtspfund) of 367 grammes was converted into a monetary pound of 240 pfennigs, the weight of which decreased continuously.The lighter pfennigs became larger in diameter. The sheet metal used for minting eventually became so thin that it could no longer be struck with lower and upper punches simultaneously in one operation. When embossing the so-called 'thin pfennigs' (Dünnpfennige), the blank had to be turned in order to emboss the opposite side. The stamp pressure on one side damaged the coin image on the other side. In order to achieve a good coin image, it made sense to dispense with the second punch and also to save the second work step.

This phenomenon probably led to the minting ofbracteatesbeginning around 1140 under MargraveConrad the Great(1123–1156).

Bracteateperiod

Margraviate of Meissen, MargraveOtto the Rich(1156–1190), bracteate

The name 'bracteate' first appeared at the end of the 17th century and is derived from the Latin wordbractea( "tin" ). At first it only occurs in the termnummus bracteatus,"tin coin". Perhaps the German expressionblecheninstead ofbezahlen( "to pay" ) goes back to the days of tin money. Old documents, on the other hand, speak ofPfennigeorPfund Pfennige( "pound pfennigs" ), in Latin,denariusortalentum denariorum.

The largest quantity of Meissen bracteates were minted between 1170 and 1300 by the first Meissenmint,the Freiberg Mint. From the 13th century it was the main state mint for theHouse of Wettin.In addition to pfennigs,halflings(Hälblinge) and quarters (Viertelchen) were also issued. Large payments were made in silveringots.

The bracteates from all Meissen andUpper Lusatianmints were struck according to a uniform embossing style andmonetary standard.The master minter at Freiberg was instructed not to strike more than 244 or 246 pfennigs from the (Prague) silvermarkof 253 grammes. That corresponds to an average weight of a pfennig of a good 1 gramme. However, the highest average weight ofPuschwitzbracteate finds from the early mintings around 1140 is only 0.811 grammes. At the end of the 13th and beginning of the 14th century, the average weight was 0.573 grammes.

The testing of the weight was checkedal marco.In medieval coinage, this was checking the total weight of a certain number of coins instead of checking the weight of an individual piece. Given the uneven weight of individual pfennigs, it was obvious to bring the overweight ones down to the average weight simply with scissors by cutting off the edge. The clipping of pfennigs by money changers or private individuals for the purpose of illegally procuring precious metals was acapital offencefor which the penalty was cutting off the right hand.

The pfennigs were only valid in their area of origin. The bracteate period is therefore also referred to as the period of theregional pfennig.Anyone who came from another currency area to trade had to exchange thecurrencythey had brought with them for local coinage. The bill of exchange was part of the income of themintmasters.

The cost of minting coins had to be covered by an annual fee-based exchange of the pfennigs: twelve old ones for nine or ten new ones. In Freiberg's city law it was determined that only themint masteror judge himself was allowed to devalue expired pfennigs. The fragile pfennigs were carried in tin cans.

Bracteatemints in Saxony

The following mints in Saxony produced bracteate coins:

• Bautzen
• Colditz
• Freiberg
• Gotha
• Leipzig
• Weimar
• Wittenberg

Dynasticbracteates

Numerous independentdynastiesin the Wettin region were given the imperialregaleofminting rights.These included:

Lords of Apolda Lords of Bieberstein Counts of Brehna Lords of Colditz Burgraves of Dohna Lords of Eilenburg Burgraves of Leisnig Lords of Lobdeburg

Burgraves of Meissen Burgraves of Neuenburg Lords of Pack Vogts of Plauen Lords of Waldenburg at Wolkenstein Vogts of Weida-Gera Counts of Wettin

• 
  Counts of Wettin,Ulrich, 1187–1206, diameter 35 mm, 0.73 g (clipped)
• 
  Lordship ofEilenburg,Otto (1191–1234), diameter 37 mm; 1.12 g
• 
  Lords of Lobdeburg (1230–1270), unconfirmed, diameter 32 mm, 0.58 g
• 
  Burgraviate ofDohna,probably Henry II (1180–1225), Donian bracteate
• 
  Burggrafschaft Dohna, Henry III (1239–1256), Donian bracteate
• 
  VogtsofWeida-Gera,Vogtei of Henry VIII or IV, 1281–1320, diameter 43 mm, 0.69 g

The increasing power of the Meissen margraves in the 14th century led, with a few exceptions, to the end of minting by imperialministeriales.

Episcopal bracteates

Bishopric of Naumburg,Berthold II of Meissen

TheBishops of Naumburgexercised their right to mint coins inStrehlaon the Elbe in conjunction with the Margrave of Meissen.

TheBishops of Meissenwere also the lords of miners and mints and had bracteates issued. At the end of the 12th century, mines were driven into the Scharfenberg on theElbe.Later, the two episcopal castles,WurzenandStolpenbecame potential places for minting.The last episcopal bracteates were minted towards the end of the 13th century.

As anabbeyauthorized to issue coins,Pegau AbbeyinPegaualso minted bracteates. These have a largecrutch crossand usually an inscription of the name as an unmistakable mark.Because of their consistent and high quality silver, they were popular and even re-stamped. Restrikes are known for theBurgraves of Meissen,the Vogts of Pegau Abbey, MargraveTheodoric,the Count of Brehna andArchbishops of Magdeburg.

Chronology of the Meissen bracteates (Margraviate of Meissen)

• 
  Conrad the Great(1123–1156), oldest Meissen type
• 
  Conrad the Great (1123–1156), diameter 36 mm, 1.00 g
• 
  Conrad the Great (1123–1156), diameter 30 mm; 0.85g
• 
  Theodoric the Oppressed(1197–1221), diameter 33 mm, 0.86 g
• 
  Henry the Illustrious(1221–1288), diameter 42mm; 1.08g
• 
  Henry the Illustrious (1221–1288), minted around 1250

The chronology of the Meissen bracteates is difficult. Except in the early days, the names of the mint lords are only exceptionally found on the pfennigs. A rough classification was made by Haupt:

Period	Dimension/feature	remark
Around 1140/1150	Diameter up to 37 mm, flat stamping	The oldest bracteates were stamped with forged steel dies. Thedie cutsare testimonies toRomanesqueportable art.The coin image extends to the edge.
Post 1150 to late 12th century	Gradual reduction in diameter down to 20 mm	The coin weight hardly decreased. The bracteates had become thicker and therefore more break- and pressure-resistant. A wide and high beaded ring enclosing the coin design increased its flexural strength.
Around 1200 to about 1250	Diameter up to 42 mm, larger profiling	Thecoin diemade ofcast bronzesaved the need for die cutting. The casting technique required greater profiling and larger diameters. As before, the bracteates have a stiffening ring, an "enthroned prince" became a typical coin image.
About 1250 to 1300	"Gritty" surface, large diameters	Bracteates became mass-produced due to the high silver yield from the mines. The slightly rough surface of the cast bronze stamp was no longer smoothed.
around 1300	Bulging almost to the shape of a hat	Severalplanchetslaid on top of each other were formed in oneminting process.The coin image merges into the edge.

For the export trade, the regional pfennig with its limited scope and obligation to exchange it every year was a major obstacle. A unified currency across larger areas was required. Higher denominations were needed, not just pfennigs.

The regional pfennig period ended under MargraveFrederick II(1323–1349).

Groschen period

After the replacement of the pfennig by thebroad groschen(grossi lati) introduced by Margrave Frederick II in 1338/39, the late medievalgroschenperiod began. In Haupt'sSächsischer Münzkunde,the wordGroschenis a popular term for the Latingrossus,which roughly means "fat". For larger amounts of money, theSchock,worth 60 smallSchockgroschenor 20 new groschen, and the mark, worth 48Schockgroschenwere minted.

The new groschen was issued by the Freiberg mint based on thePrague groschenwhich had been minted inBohemiasince 1300.When changing over the currency in theMargraviate of Meissen,as in theKingdom of Bohemia,Italian financial advisors were consulted.

LandgraveFrederick the Peaceful(1406–1440), Meissen groschen with letter "f" and reference "Ringel", Freiberg

The currency changeover to the new, lighterRhenish Guldenas the basis for Meissen's groschen coinage took place in stages from 1368 to 1369. In addition to groschen, pfennigs andhellerswere minted. The groschen was worth 9 or 12 pfennigs, the pfennig, 2hellers.Alongside the Prague groschen, the Meissen groschen became the leading monetary unit ofCentral Europe.

At the end of the 14th and 15th centuries, theHouse of Wettinestablished, in addition to their main mint in Freiberg, other mints inSangerhausen,Zwickau,Gotha,Leipzig,Weimar,Colditz,WittenbergandLangensalza,some of which were only temporarily in operation.The Freiberg Mint remained the primary state mint until it was eventually closed.

The Colditz Mint was owned by the ElectressMargaret,wife of ElectorFriedrich II(1428–1464). An extraordinary event in the history of coins in Saxony is that the Elector paid his wife as compensation for the highlife estatein 1456set up a mint inColditzand allowed her to mint her own coins there. The so-calledMargarethengroschenwith an additional "M" in the inscription testify to these coins.

As a result of the high spending policy of MargraveWilliam I the One-Eyed(1382–1407), the country and its population were heavily burdened.

Foreign towns countered the increasing debasement of coins withcountermarksof Meissen groschen that were still in good condition. It was not until 1412 thatFrederick the Quarrelsome(1381–1428) succeeded in stabilizing the pfennig currency on the basis of 20Schildgroschento a Rhenish gulden.

Saxony had to recognize theRhenish gold guldenin order to supportlong-distance trade.From 1456 it was at last minted in the large commercial metropolis ofLeipzig.

The discovery of new, rich silver deposits in the upperOre MountainsatSchneebergandAnnabergled to another mining period in Saxony in the second half of the 15th century. The newly established mine mints atSchneeberg,Zwickau(where minting had been shut down since 1449),AnnabergandBuchholzhad to cover the state's increasing financial obligations by minting a huge number of coins.

The almost identical coin mandates of theErnestineandAlbertinesfrom May 1500, in which the planned transition to the large silver currency on 4 July with new silvergulden(Guldengroschen)

With the announcement that there were now 7Schreckenbergersor 21Zinsgroschento a fullRhenish gold gulden,the Meissen-Saxon groschen was superseded after 262 years.

TheMeissengulden,used as acoin of accountup to the 19th century, goes back to the Saxon coinage regulations of 9 August 1490, according to which the goldguldenin Saxony was set at a value of 21 groschen.

Special Meissen-Saxon groschen

• 
  FürstengroschenLandgrave Balthasar of Thuringia, Freiberg Mint (abbreviation BALTH), 1405–1406.
• 
  Schildgroschenof Frederick IV the Quarrelsome, Gotha Mint, minted based on the first issue of 1405/1412. However, this identical shield penny was not minted until 1425/1428.
• 
  Schildgroschenof Frederick II the Gentle with Landgrave Frederick the Peaceful of Thuringia and his brother Sigismund, 1428/1431, Freiberg Mint
• 
  PfahlschildgroschenFrederick II the Meek with Landgrave Frederick the Peaceful of Thuringia and his brother Sigismund, Freiberg Mint, 1431–1436
• 
  Margrave Frederick the Quarrelsome, FreibergHelmgroschen,1405–1411
• 
  Elector Frederick IIJudenkopfgroschen(Oberwähr), Freiberg Mint, 1444 to c. 1451
• 
  Schwertgroschenof Frederick the Gentle, 1457 to 1464, mint master's mark lily, Leipzig Mint, with double ringlet mark
• 
  Elector Ernest, Duke Albert, Duke William III,Horngroschenfrom 1466, Leipzig Mint
• 
  Elector Ernest, Duke Albert, Duke William III with Electress Margaret (1475–1482),Spitzgroschenfrom 1475, Colditz Mint (Margarethengroschen)
• 
  Elector Frederick III, John and Duke George,Bartgroschenfrom 1492, Zwickau and Schneeberg Mints
• 
  Elector Frederick III with John and Duke Albert, Schneeberg,Zinsgroschenfrom 1498

• TheFürstengroschen( "prince's groschen" ) is aMeissen groschen,which LandgraveBalthasarof Thuringia (1349/79–1406) had struck from 1393 in his newly established mint at Sangerhausen and at the Freiberg State Mint. A special feature of these groschen is that, from 1396, the mint can be identified by the abbreviation of its name. On the reverse the character "b" is embossed in front of the Meissen lion rampant, which is a feature of theFürstengroschen.On the death of Balthasar in 1406, the minting of theFürstengroschenwas discontinued and hismintinSangerhausenwas closed.
• TheSchildgroschen( "shield groschen), often subdivided into theschildiger Groschen( "shielded groschen" ) andPfahlschildgroschen( "arrow shield groschen) or Landsberg groschen, arelate mediaevalMeissen groschen coins, which were first minted after the coin reform of 1405. The preferred name of the coin,Schildgroschen,is based on the fact that the older groschen were not stamped with a sign.With the minting of thesegroschensthe previous design, that had been standard since the Meissen groschen were first issued, the image on the coin was changed.TheSchildgroschentype, in the form of thePfahlschildgroschen,was minted until 1456.

  TheHessianSchildgroschen,also known as the KronichteGroschenandZweischildgroschen,was a coin based on the MeissenSchildgroschenand which are very similar to the Meissen-SaxonSchildgroschen;they are mentioned here for reference.

• TheHelmgroschen( "helmet groschen" ) or Thuringian groschen was a true-value (guthaltig) groschen minted underMargraveFrederick the Quarrelsomeof Meissen andLandgraveBalthasarofThuringiain theMargraviate of Meissenand theLandgraviate of Thuringiafrom 1405 to 1411, mainly intended for theThuringianpossessions. The name of the groschen is derived from the helmet with a large Thuringiancreston the back.The helmet groschen were the first Meissen groschen to deviate from the typical coin design on both sides. With these groschen with their eye-catching design, the Wettins wanted to support the currency, which had been weakened by the ongoing coin devaluation.
• TheJudenkopfgroschen( "Jew's head groschen" ) was designed as external trading currency (Oberwähr) minted under ElectorFrederick II the Meekof Saxony (1428–1464) in accordance with the coinage regulations from 1444 to about 1451. His brother, DukeWilliam III the Brave(1445–1482) also participated in this project. The name of the coin is derived from the reverse side with the Meissen crest with a man's head, the so-called "Jew's head".
• TheSchwertgroschen( "sword groschen" ) is a Saxon groschen minted in accordance with the coinage act of 1456/57, which corresponds to the Meissen groschen type and was minted from 1457 to 1464 in Freiberg, Colditz and Leipzig. Above thecross fleuryin thequatrefoilis the shield with crossed electoral swords, which give theSchwertgroschenits name. From 1461 to 1464 it was minted as internal currency (Beiwähr).
• TheHorngroschen( "horn groschen" ) were minted from 1465 to 1469 by DukesErnestandAlberttogether with their uncle,William(1465-1482)It was the first groschen for 123 years that the Wettins had minted with a year date.The weakened Saxon currency was to be replaced by a completely new and stable currency after the efforts to achieve that with the coin reforms of 1444 and 1456/57 by creating a two-tier groschen currency in the form of an external (Oberwähr) and internal one (Bewähr) had failed.
• TheSpitzgroschen( "point groschen" ) was minted sold under Elector Ernest (1464/85–1486), his brother Duke Albert the Bold (1464/85–1500) and their uncle Duke William III the Brave (1445-1482) from 1475 to 1482 iaw the coinage decree of 28 December 1474, in order to dispel public mistrust of the equivalentHorngroschenmade of alloyed silver. In the Electorate of Saxony under Elector Maurice (1541-1547-1553) and Elector Augustus (1553-1586) there were restrikes from 1547 to 1553.
• The so-calledMargarethengroschen( "Margaret groschen" ) are Saxon groschen minted from 1456 to 1477 by the Colditz Mint with an additional "M" at the beginning or within the inscription.The "M" refers toMargaret(c. 1416– 1486), wife of ElectorFrederick II(1428–1464) of Saxony. Coins from 1456 are technically illegal, because she put her name before that of the Elector and also had her own coins made, although she only receivedminting rightsfrom the Emperor in September 1463.
• TheBartgroschen( "bearded groschen" ) is the name of the coin minted from 1492 to 1493 with a circulation of 205,000 pieces.They were issued by the Zwickau and Schneeberg mints and bore a portrait ofFrederick III of Saxony(1486–1525). The groschen were the first coins in Saxon coinage history with a portrait of the regent.
• Zinsgroschen( "interest groschen" ),MutgroschenorSchneebergerare the names of Saxon groschen coins minted from 1496,with which certain taxes (interest) were paid. This new type of groschen was minted for 31⁄2decadesand was the model for 16th century groschen.

  

  Elector Frederick III the Wise with Dukes John the Steadfast and Albert the Bold, AnnabergSchreckenberger,undated, (1498/1499)

• Schreckenbergersfrom the silver mines of theSchreckenbergwere minted in accordance with coinage act of 18 August 1498. These new, largerGroßgroschenhad a value of 3 groschen and were issued to afineness861/1000. There were 7Schreckenbergersto a Rhenish gulden.

TheZinsgroschenminted from Schneeberg silver and theSchreckenbergerprepared the way for the new silverguldencurrency introduced from 1500 on the lines of theTyroleanmodeland which were the first Saxonthalercoins.

thaler period

With the beginning of the thaler period in 1500, allmintmaster marksare known. These mints were at:

• Annaberg
• Bautzen
• Buchholz
• Dresden
• Freiberg
• Leipzig
• Schneeberg
• Zwickau

Statethalers(1500–1571)

At the end of the 15th century, new technical and economic methods in Saxon mining led to an unusually high silver yield. This led ElectorFrederick III the Wise(1486–1525) and his brotherJohn the Constant(1486/1525–1532), in agreement withGeorge the Bearded(1500–1539), as representative of his fatherAlbert the Bold(1464/85–1500) to promulgate the so-called Leipzig Coinage Act of 1500. According to this, a groschen (Guldengroschen) was to be struck and equated for a (Rhenish)gulden.The thaler (so-calledKlappmützentaler), was initially called aguldenor aguldengroschen,and was the silver equivalent of the Rhenishgulden.

On theLocumtenenstalerminted by Elector Frederick the Wise of Saxony, his status as anImperial Vicarappears for the first time in 1507, inscribed in the form "Imperique locumtenens generalis" (Latin = Imperial Governor General). These are the first vicariate coins in Saxony. The otherSchautalerof Frederick the Wise (1522) was attributed toMartin Luther's honorary memory and could also be a medal.

During the time of the Saxon currency separation, the common coinage agreed between theErnestinesandAlbertinesunder thepartition of Leipzigin 1485 was temporarily lifted from 1530 to the end of 1533. When the Ernestines lost theirelectoral dignityto the Albertines in 1547, the coinage that had been previously minted in brotherly cooperation was finally ended. The new ElectorMaurice(1541–1547–1553) only minted coins in his own name. A new period began, a separate coinage history under the Albertine electoral line of the House of Saxony.

Duchy of Saxony, thaler of John Frederick the Magnanimous after his imprisonment, 1552, Saalfeld Mint.

The coinage of the Ernestine line and later and subsidiary lines in the remaining extensiveThuringianlands are also part of Saxon coin history, but can be treated separately in their diversity. The coinage history of the Duchy of Saxony or the Saxon-Ernestine family covers the period from 1547 to 1572 in the remainingThuringianpossessions of the Ernestines. This is the time after theBattle of Mühlbergup to thepartitionof the Ernestine duchy intoSaxe-Coburg-EisenachandSaxe-Weimar(Saxe-Old-Weimar) in 1572.

The Albertine ElectorAugustus(1553–1586) centralized coinage by combining all state coin production into a single mint. The newDresden Mintbecame the central mint for the entire Electorate. On Augustus's accession to theImperial Minting Ordinanceof 1571, the second phase of the thaler currency began.

• thaler coins based on the Saxon monetary standard:

• 
  Elector Frederick III and Dukes John and George, Gulden (Klappmützentaler), undated, Mmz. Cross (1512–1523), Annaberg
• 
  KurfürstJohn Frederick the Magnanimousund Duke George,Guldengroschen,1536, Buchholz
• 
  Elector John Frederick the Magnanimous (portrait with electoral sword over his shoulder) and Duke Maurice (portrait withbattle axeover his shoulder),Guldengroschenfrom 1543, Buchholz
• 
  Elector John Frederick the Magnanimous and DukeMaurice,Guldengroschen,1542, Annaberg
• 
  Elector Maurice,Guldengroschen,1552, Freiberg. Definitive coin separation from 1547
• 
  Elector Augustus,Guldengroschen,1559, Dresden
• 
  Elector Augustus, thaler issued on the capture of Gotha (1567), Dresden

Imperialthalers(post-1571)

Elector Augustus,Reichstaler,1575

1⁄24Reichstaler(Groschen), 1571

Dreibrüdertaler,from 1610

In 1571, Elector Augustus and the estates of theUpper Saxon CircleandLower Saxon Circlejoined the AugsburgReichsmünzordnungof 1559. The 10Imperial Circles,into which the Holy Roman Empire of the German Nation was divided, was responsible for monitoring compliance with the imperial coinage system.All coins come from the Dresden Mint.

Thalers after accession to the Reichsmünzordnung of 1571:

• 1571–1667Imperial Minting Standard(Reichsmünzfuß): 9Reichstalerto theFine Mark

Nominal	Weight (g)	Fineness (0/00)
Reichstaler at 24groschen	29.23	888.89
1⁄2Reichsthalervalued at 12Groschen	14.62	888.89
1⁄4Reichstalervalued at 6Groschen	7.31	888.89
1⁄8Reichstalervalued at 3Groschen	3.61	888.89
1⁄24Reichstaler (1Groschen)	2.15	500
DreierorDreyer(1⁄4Groschen)	0.85	312.5
Pfennig (1⁄12Groschen)	0.34	250

The goldenguldensand doubleguldens,which were minted after Electoral Saxony joined the imperial coinage system, are not part of the Saxon denominations of the imperial coinage system. TheReichsguldenat 21Groschen(1584) is a minted coin of account.

Elector John George I, vicariate thaler, 1619

The electors of Saxony, who were rich in silver, could afford to produce extensive commemorative coins in addition to circulation coins. The Saxon vicariate coins minted from 1612 arecommemorative coinsof theElectors of Saxony,whom they portray as representatives of theEmperorin imperial territories underSaxon lawcoined during the time of the imperial throne. They shared the Imperial Vicariate with theRhineland.

Between 1571 and 1667, the Upper Saxon Circle tried to comply with the imperial monetary standard. The decline in silver mining and high cost of minting small change and the consequent shortages led to theKipperandWipperinflationof 1619 to 1623, combined with the establishment of numerousKippermints.

KipperandWipperperiod (1620–1623)

Elector John George I, 40Kippergroschen(Kippertalerfor 40 groschen) 1621, Kipper mints, Dresden

The monopoly of the Dresden Mint was broken with the establishment of numerousKippermints. The great resemblance of the interim coins to the high-qualitySchreckenbergerorEngelsgroschenminted in Saxony and Thuringia between 1498 and 1571 probably made them coins popular in Electoral Saxony. The coins could not be objected to, because they were not thalers or their subdivisions, but groschen pieces, i.e.state coins(Landesmünzen), which did not have to conform to the imperial coinage regulations. The smallest coins, which were one-sided copper pfennigs, were produced by the Grünthal Hammer Mill.

The complete disruption of the financial system forcedElectoral Saxonyto return to the imperial coin standard in 1623. TheReichsmünzordnunghad not officially been repealed.

Zinna and Leipzig standard (1667–1690–1763)

Elector John George II,Kuranttaler(Hosenbandtaler), 1678, 23.32 g.Kuranttalerwere only minted in exceptional cases.

After the end of theThirty Years' War,there was a second or lesserKipperperiod, whichElectoral Brandenburgand Electoral Saxony ended, however, by agreeing on a currency standard inZinnain 1667 that reflected the increased price of silver.That same year, the short-term minting of state coins forUpper Lusatiaat the Bautzen Mint was halted due to failure. The2⁄3thaler (2⁄3Kuranttaler) orguldenvalued at 16 groschen became the new main denomination. TheKurantthalervalued at 24 groschen, previously calledReichsthaler,was not minted with a few exceptions. In payment transactions, the thaler was acoin of accountworth 24 groschen. That is why the denomination 24/EINEN/TALER is stamped on pfennig pieces. The thaler referred to the non-mintedRechnungsthaler.This currency was no longer based on the resolutions of theReichstag,but on the agreement between the states of Electoral Brandenburg and Electoral Saxony. TheReichsthalerwas only minted as aSpeciesreichsthalervalued at 28 groschen for the payment obligation of the Saxon mining administration.

The coinage according to the 1667Treaty of Zinna

ElectorFrederick Augustus I(Augustus the Strong),2⁄3Kuranttaler(gulden), 1696, Dresden. A clear distinction must be made between this mintedguldenand the fictitious accounting "gulden"(Meissengulden).

KingAugustus II,Speciesreichstalervalued at 32 groschen from 1708, still minted to the imperial standard; with royal title but no reference to Poland. Frederick Augustus had thistalerminted after he had to renounce the Polish throne.

• Zinna mint standard 1667-1690: 101⁄2Kuranttaleragainst thefine mark

Nominal	Weight (g)	Fineness (0/00)
Kuranttalerat 24Groschen
2⁄3Kuranttalerat 16Groschen	16.7	888.89
1⁄3Kuranttalerat 8Groschen	9.74	760.42
1⁄6Kuranttaler4Groschen	4.87	760.42
Groschen	1.99	465.28
DreierorDreyer(1⁄4Groschen)	0.90	250
Pfennig(1⁄12Groschen)	0.35	204.86

In 1690, the continued rise in the price of silver required another currency adjustment. The result was theLeipzig standard,which theRegensburg Reichstagdeclared in 1735 to be the new coin standard. TheSpeciesreichstalerwere still minted to imperial coin regulations, but with an increased value of 32 groschen.

• Coinage to the Leipzig standard (1690-1763):12Kuranttalerto the fine mark

Coinage minted to the Leipzig standard, that is theKuranttalerin the same denominations as before, was issued between 1693 and 1733 with a different weight and fineness.

Small change was minted to the Torgau mint standard. New denominations were1⁄12thaler (double groschen) and1⁄48thaler (1⁄2groschen).

In the Electorate of Saxony, low-valueSchuesselpfennigs( "dish pfennigs" ) also circulated as "invaders". They were referred to asNäpfchenheller( "saucerhellers") in Saxony. The name of the coin comes from 1668 Saxon files.

Wechselthalerstandard 1670/71

Main article:Wechselthaler

Wechseltaler,1671 (without inscription WECHSELTHALER), Dresden Mint

In the years 1670/1671 theWechselthalerand its sub-denominations were minted based on the Wechseltaler standard.

TheWechselthalerwas issued underElectorJohn George II(1656–1680) to theWechselthalerorBurgundiastandard (861/1000fine). The thaler and its sub-denominations were intended as change (Wechselgeld) to encourageLeipzigtrade withHamburgand theNetherlands.The first coins from 1670 therefore bear the inscription WECSELTHALER on the reverse.TheWechseltalerstandard was only valid in Electoral Saxony in 1670 and 1671.

Saxon-PolishBankotalersto Burgundian standard (1702)

Saxon-PolishBankotalerof 1702, Leipzig Mint, so-called 'Beichlingscher Ordenstaler'

In 1702,Augustus the Strong(1694–1733) had three differentBankotalersminted at the Leipzig Mint. They corresponded in value to Polishtalersminted to the Burgundian standard and were therefore somewhat less valuable thantalersminted to the imperial standard. There were lower-value Saxontalers,but also normal Polishtalers.

The minting of theBankotalerswas carried out by Great Chancellor (Großkanzler) Wolf Dietrich, Count of Beichlingen. On the so-calledBeichling Ordenstaleronly the cross of the order was shown, but not theOrder of the Elephant,as was the case with the other twotalers.

It was assumed that Beichlingen had this cross designed to be that of the DanishOrder of the Dannebrogof which he was a knight, and that thetalerwas therefore an insult to the king. The count, who was also responsible for the minting of the inferiorRoter Seufzersof 1701 and 1702, fell out of favour.The minting of all threeBankotalerswas discontinued in the year of their issue.

Conventionstandard (1763–1838)

The disruption of coinage during theSeven Years' War(1756–1763) urgently required a coin reform. Prussian contributions and the counterfeit coining byFrederick II(1740–1786) as a means of financing the war led to the complete collapse of the monetary system inSaxonyandPoland.

ElectorFrederick Christian,ConventionSpeciestaler1763, with inscription X EINE FEINE MARCK, Dresden Mint

On 14 May 1763, Electoral Saxony and the Ernestine principalities introduced theConventionstandard, also known as the20-guldenstandard. From this fine silver mark of approx. 234 g, the following was minted in Saxony:

• 10ConventionSpeciestaler(Conventionsthaler) = 202⁄3thalers= 401⁄3thalers= 801⁄6thalers= 1601⁄12thalers(double groschen) = 3201⁄24thalers (groschen) = 9601⁄48thalers(half groschen).

Calculations were made inConventioncurrency. 1 thaler (Reichstaler) was a unit of account worth 24 groschen.TheConventioncoins from the groschen to theConventionSpeciestalerremained stable during the entire period of validity of theConventioncoin standard.

Ducats, 5 thaler (August d'or) and 10 thaler pieces (doubleAugust d'or) were minted as gold coins, primarily for long-distance and wholesale trade. They also remained unchanged in weight and fineness. Other coins were theHeller,Pfennig, 3Pfennig,4Pfennigand 8Pfennigpieces grouped as country or divisional coins. Both the gold coins and the pfennig coins were notConventionmoney.

From 1804 to 1825 all the copper minting for Saxony took place in Grünthal Mint, which was located in the "Althammer" ( "old hammer mill" ) of the Grünthal Sawmill and was built as a subsidiary of the Dresden Mint.

14 Thalerstandard (1839–1856)

KingFrederick Augustus II,double thaler 1847, with inscription 2 THALER VII A F. MARK 31⁄2GULDEN / VEREINSMÜNZE

After the introduction of the German Trade and Customs Union, the participating states founded theGerman Customs Union(Deutscher Zollverein) inMunichand Dresden in 1837/38, which adopted the Prussian (Graumann)14 Thalerstandard. After that, standard doublethalersor 31⁄2guldenpieces were minted.

In theKingdom of Saxonythe following was minted from the fine silver mark:

• 7 double thalers = 14Vereinsthalers( "union thalers" )
• 1Vereinsthaler= 30Neugroschen( "new groschen" ) = 300 pfennig
• 1Neugroschen= 10 pfennigs (1 fine mark = 420Neugroschen)

The thaler corresponded in value to the Prussian thaler, the SaxonNeugroschenas1⁄30thaler to the Prussian silver groschen also valued at1⁄30thaler. The Saxon and Prussian nominal systems differed in the division of the groschen into pfennigs. While Prussia retained the old duodecimal system with the subdivision into 12 pfennigs, Saxony took a conscious step towards the decimal system with the subdivision of the groschen into 10 pfennigs. This was particularly evident in the 1/3 thaler, which was worth 10Neugroschenor 100 Saxon pfennigs.

30 Thaler standard (1857–1871) (1872)

KingJohn,double thaler, 1861, with inscription 2 VEREINSTHALER XV EIN PUND FEIN

In 1857,AustriaandLiechtensteinjoined the German Coin Union (Münzverein) inVienna.Decimal currency was introduced with the Vienna Mint Treaty. TheMarkwas replaced by the customs pound (Zollmund) of 500 g and the thaler was issued as aVereinsthaleralongside the double thaler. 30Vereinsthalerswere minted from the 500g customs pound. This mint standard was used in Saxony in the Dresden Mint until the introduction of imperial currency.

The founding of theEmpirewithout Austria and Liechtenstein made a single currency possible. The German Reich exercised the right to mint coins on behalf of its federal states. Saxon coin history ended with the issue of the newMark coinsin gold and silver, although in the Saxon kingdom until 1886 in the Dresden mint and then in Muldenhütten nearFreiberga mint was still in operation until 1953.The old thaler to a 14-thaler standard with the Cologne mark ascoin base weight,had its value modified only very slightly by the Vienna Mint Treaty to a 30 thaler standard aligned to the customs pound as the coin base weight, corresponded to three marks in the new common currency. The Saxon1⁄3thaler of 100 pfennigs lived on in the newly introduced mark. Saxon pfennigs could thus remain in circulation for many years without any problems at the value of the new pfennigs under the mark.

Coins of the Albertine duchies created by division of the land

Duke Maurice of Saxe-Zeitz, thaler minted on the construction of Moritzburg Castle in Zeitz, 1667

When Elector John George I died on 8 October 1656 at hisresidential palaceinDresden,he left behind a will drawn up on 20 July 1652. An important provision therein was the partition of the state among his four sons. According to this, the eldest son succeeded him as Elector John George II; his second son, DukeAugustus,became theprogenitorof the Dukes ofSaxe-Weissenfels,a line that became extinct in 1746. His third son, DukeChristian,became the progenitor of the dukes ofSaxe-Merseburg,which died out in 1738.

The fourth son, DukeMaurice,Administratorof theNaumburg-Zeitz Abbeyfrom 1653, resided inNaumburgfrom 1653 to 1663, then in Zeitz at the Moritzburg that he had built. He was the founder of theSaxe-Zeitzline. Maurice died on 4 December 1681 in Zeitz. His domain was then ceded to Electoral Saxony in 1717. The last son died in the clergy in 1759.

Coins were minted by the Albertine duchies of Saxe-Weissenfels and Saxe-Zeitz. The best known is the thaler minted on the construction of Moritzburg Castle in Zeitz, which Wilhelm Ernst Tentzel calls amedal(see illustration).

Literature

• Arnold, Paul (1980). "Die sächsische Talerwährung von 1500 bis 1763." InSchweizerische Numismatische Rundschau.Vol. 59, 1980, pp. 50–94,doi:10.5169/seals-174534.
• Arnold, Paul (1986). "Walter Haupt und seine Sächsische Münzkunde". InNumismatische Hefte.No. 20, Dresden,ISSN0323-6919.
• Arnold, Paul (1996). "Die Genealogie der meißnisch-sächsischen Landesfürsten." InDresdner numismatische Hefte,No. 1/1996, by theNumismatischer Verein zu Dresden(publ.).ISSN1613-3447.
• Arnold, Paul, Harald Küthmann, Dirk Steinhilber (1997).Großer deutscher Münzkatalog von 1800 bis heute.Augsburg.
• Blaschke, Karlheinz (1990).Geschichte Sachsens im Mittelalter.Berlin: Unionverlag.
• Buck, Lienhard (1981).Die Münzen des Kurfürstentums Sachsen 1763 bis 1806.Berlin.
• Erbstein, Julius and Albert Erbstein (1888).Erörterungen auf dem Gebiete der sächsischen Münz- und Medaillen-Geschichte bei Verzeichnung der Hofrath Engelhardt'schen Sammlung.Dresden.
• Fengler, Heinz, Gerd Gierow and Willy Unger (1976).transpress Lexikon Numismatik.Berlin.
• Haupt, Walther (1974).Sächsische Münzkunde.Berlin: Deutscher Verlag der Wissenschaften.
• Jaeger, Kurt (1969).Die Münzprägungen der deutschen Staaten vom Ausgang des alten Reiches bis zur Einführung der Reichswährung (Anfang des 19. Jahrhunderts bis 1871/73).Vol. 10:Königreich Sachsen 1806–1873 und Herzogtum Warschau 1810–1815.Basle.
• Kahnt, Helmut (2005)Das große Münzlexikon von A bis Z.Regenstauf.
• Keilitz, Claus (2010).Die sächsischen Münzen 1500–1547.H. Gietl, Regenstauf.
• Klotzsch, Johann Friedrich (1779/1780)Versuch einer Chur-Sächsischen Münzgeschichte.2 Teile. Johann Christoph Stößel, Chemnitz 1779/1780,urn:urn:nbn:de:gbv:3:1-646198:{{{2}}}(digitalised by theUniversity of Halle).
• Kohl, Christian A. (1994).Talerteilstücke des Kurfürstentums Sachsen. Typenkatalog albertinische Linie 1546–1763.Leipzig.
• Krug, Gerhard (1974).Die meißnisch-sächsischen Groschen 1338–1500.Berlin.
• Lorenz, Rudolf (1968).Die Münzen des Königreichs Sachsen 1806–1871 und des Großherzogtums Warschau 1807–1815.Berlin.
• Nicol, N. D., Marian S. More and Fred J. Borgmann:Standard Catalog of German Coins 1601 to present.
• Suhle, Arthur (1969).Die Münze. Von den Anfängen bis zur europäischen Neuzeit.Leipzig.
• von Schrötter, Friedrich, N. Bauer, K. Regling, A. Suhle, R. Vasmer, J. Wilcke (1970).Wörterbuch der Münzkunde.Berlin (reprint of the original edition of 1930).
• Weber, Tristan (2010).Die sächsische Münzprägung von 1500 bis 1571.H. Gietl, Regenstauf.
• Wieland, Clauß and Helmut Kahnt (2006).Die sächsisch-albertinischen Münzen 1611–1694.Regenstauf.