The Vereinsthaler

Vereinsthaler

The Vereinsthaler was a standard silver coin used in most German states and the Austrian Empire in the years prior to German unification.- Introduction :...

was the currency

Currency

In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...

 of the Kingdom of Hanover

Kingdom of Hanover

The Kingdom of Hanover was established in October 1814 by the Congress of Vienna, with the restoration of George III to his Hanoverian territories after the Napoleonic era. It succeeded the former Electorate of Brunswick-Lüneburg , and joined with 38 other sovereign states in the German...

 between 1857 and 1866. The Vereinsthaler replaced the prior Thaler

Hannovarian thaler

The Thaler was the currency of the Electorate, later Kingdom of Hanover until 1857. Until 1834, it was equal to three quarters of a Conventionsthaler and was subdivided into 36 Mariengroschen, each of 8 Pfennig....

 at par. The Vereinsthaler was first subdivided into 24 Groschen

Groschen

Groschen was the name for a coin used in various German-speaking states as well as some non-German-speaking countries of Central Europe , the Danubian principalities...

, each of 12 Pfennig

Pfennig

The Pfennig , plural Pfennige, is an old German coin or note, which existed from the 9th century until the introduction of the euro in 2002....

, thus 288 Pfennig = 1 Vereinsthaler. From 1858 on the subdivisons were more decimalised to 30 Groschen, each of 10 Pfennig, thus 300 Pfennig making up a Vereinsthaler.

When in 1866 the Kingdom of Prussia

Kingdom of Prussia

The Kingdom of Prussia was a German kingdom from 1701 to 1918. Until the defeat of Germany in World War I, it comprised almost two-thirds of the area of the German Empire...

 annexed Hanover the Hanoveran currency was replaced by the Prussian Vereinsthaler

Prussian vereinsthaler

The Vereinsthaler was the currency of Prussia between 1857 and 1873. It replaced the Thaler at par and was replaced by the Mark at a rate of 1 Vereinsthaler = 3 Mark. The Vereinsthaler was subdivided into 30 Silbergroschen, each of 12 Pfenninge....

, subdivided into 30 Silbergroschen, each of 12 Pfennig (thus 360 Pfennig = 1 Pr. Vereinsthaler).