Währung (bis 1800)

Claims Supported by This Source

1. The Imperial Monetary Ordinances of 1524, 1551, and 1559 aimed for empire-wide currency circulation but did not achieve it; the 1559 ordinance (supplemented in 1566) reconciled the Gulden zone of Southern Germany with the Thaler zone of Saxony-Northern Germany (Thaler of account at 90 Kreuzer). 1 Gulden = 60 Kreuzer, 1 Kreuzer = 4 Pfennig, 1 Pfennig = 2 Heller. Batzen = 4 Kreuzer, Groschen = 3 Kreuzer, Halbbatzen = 2 Kreuzer.
2. Bavaria, like the rest of the Empire, suffered a massive currency debasement (Kipper- und Wipperzeit) in the first few years of the Thirty Years' War. The gradual debasement of small coins began in the late 16th century, peaking in 1619–1622. The silver content was drastically reduced, and in Bavaria, it eventually reached 10% of the content stipulated by the 1559/1566 ordinance in 1621, with the smallest denominations often containing no silver at all.
3. Reform in 1623: The bad Kipper coins were devalued, and subsequent minting returned to the standards of the imperial Münzfuß (minting standard).
4. Minting lords had the right of compulsory circulation and Münzverrufung (declaration of coin invalidity), and the exchange rate at the time of invalidation brought additional income. The wide circulation of the light Pfennigs of Schwäbisch Hall in the 13th century supports Gresham's law that bad money drives out good.
5. Unification of coinage was achieved with the Bavarian-Austrian Monetary Convention of 1753/54 and the Imperial Monetary Reform of 1871/73.

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