Reichsmünzordnung
Encyclopedia
The Reichsmünzordnung was an attempt to unify the numerous disparate coins
in use in the various states of the Holy Roman Empire
in the 16th century.
The ordinance was issued in several steps at Diets at Augsburg
during the 1530s to 1560s, but it was never adopted entirely by all princes within the empire.
A first Reichsmünzordnung was issued by Charles V
in 1524 at Esslingen, declaring the Cologne Mark
as the general standard for coin weights. But due to protests by the larger principalities of the empire, the ordinance was never implemented.
In 1551, the Kreuzer
was introduced as the standard for small silver coinage, with 72 Kreuzer being equivalent to a Gulden, or a silver Guldengroschen
. The silver Taler was set at 68 Kreuzer.
An official Reichsgoldgulden was introduced but was only minted for a few years. The definition of a silver and a gold coin (Gulden vs. Guldengroschen) of equivalent value was problematic, as the value of the gold coin tended to rise above that of the silver one, and soon the Gulden was de facto traded at more than the official 72 Kreuzer. This led to the abolition of the official standard linking of gold and silver coins in 1559 under Ferdinand I
. The Gulden was now set at 75 Kreuzer, the Ducat
was introduced as an additional gold coin, and the Guldengroschen, now valued 60 Kreuzer, gradually fell out of use in favour of the Taler.
In 1566, the Diet was forced to recognize the new status quo and introduced the Reichstaler (at 29.23 grams of 88.9% silver) as the official coin of the empire. The Taler remained in use throughout the Holy Roman Empire until the early 18th century.
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...
in use in the various states of the Holy Roman Empire
Holy Roman Empire
The Holy Roman Empire was a realm that existed from 962 to 1806 in Central Europe.It was ruled by the Holy Roman Emperor. Its character changed during the Middle Ages and the Early Modern period, when the power of the emperor gradually weakened in favour of the princes...
in the 16th century.
The ordinance was issued in several steps at Diets at Augsburg
Diet of Augsburg
The Diet of Augsburg were the meetings of the Imperial Diet of the Holy Roman Empire in the German city of Augsburg. There were many such sessions, but the three meetings during the Reformation and the ensuing religious wars between the Roman Catholic emperor Charles V and the Protestant...
during the 1530s to 1560s, but it was never adopted entirely by all princes within the empire.
A first Reichsmünzordnung was issued by Charles V
Charles V, Holy Roman Emperor
Charles V was ruler of the Holy Roman Empire from 1519 and, as Charles I, of the Spanish Empire from 1516 until his voluntary retirement and abdication in favor of his younger brother Ferdinand I and his son Philip II in 1556.As...
in 1524 at Esslingen, declaring the Cologne Mark
Cologne mark
The Cologne Mark was a unit of weight equivalent to 233.856 grams. It was introduced by the Danish King Hans in the late 15th century and was used as a standard for weighing metals...
as the general standard for coin weights. But due to protests by the larger principalities of the empire, the ordinance was never implemented.
In 1551, the Kreuzer
Kreuzer
The Kreuzer, in English usually kreutzer, was a silver coin and unit of currency existing in the southern German states prior to the unification of Germany, and in Austria.-Early history:...
was introduced as the standard for small silver coinage, with 72 Kreuzer being equivalent to a Gulden, or a silver Guldengroschen
Guldengroschen
The Guldengroschen was a large silver coin originally minted in Tirol in 1486.The Guldengroschen's name comes from the fact that it has an equivalent denomination value in silver relative to that of the goldgulden...
. The silver Taler was set at 68 Kreuzer.
An official Reichsgoldgulden was introduced but was only minted for a few years. The definition of a silver and a gold coin (Gulden vs. Guldengroschen) of equivalent value was problematic, as the value of the gold coin tended to rise above that of the silver one, and soon the Gulden was de facto traded at more than the official 72 Kreuzer. This led to the abolition of the official standard linking of gold and silver coins in 1559 under Ferdinand I
Ferdinand I, Holy Roman Emperor
Ferdinand I was Holy Roman Emperor from 1558 and king of Bohemia and Hungary from 1526 until his death. Before his accession, he ruled the Austrian hereditary lands of the Habsburgs in the name of his elder brother, Charles V, Holy Roman Emperor.The key events during his reign were the contest...
. The Gulden was now set at 75 Kreuzer, the Ducat
Ducat
The ducat is a gold coin that was used as a trade coin throughout Europe before World War I. Its weight is 3.4909 grams of .986 gold, which is 0.1107 troy ounce, actual gold weight...
was introduced as an additional gold coin, and the Guldengroschen, now valued 60 Kreuzer, gradually fell out of use in favour of the Taler.
In 1566, the Diet was forced to recognize the new status quo and introduced the Reichstaler (at 29.23 grams of 88.9% silver) as the official coin of the empire. The Taler remained in use throughout the Holy Roman Empire until the early 18th century.