Conventionsthaler

File:Konventionstaler.jpg

: Francis I, Emperor of Austria, 1822; Frederick Augustus I, King of Saxony, 1813, Dresden Mint

The or ("Convention "),Template:Efn was a standard silver coin in the Austrian Empire and the southern German states of the Holy Roman Empire from the mid-18th to early 19th-centuries. Its most famous example is the Maria Theresa thaler which is still minted today. The was equivalent to a 1⁄2 .

History

The Austrian Empire introduced the Convention currency standard in 1754 to replace the Leipzig standard of 1690, after a drop in the gold–silver price ratio from 15 to 14.5 in the 1730s unleashed a flood of cheaper defined in gold. The Leipzig standard defined the North German thaler currency unit at 3⁄4 the specie of 25.984 g, or 19.488 g fine silver. In contrast, in 1741 the gold Friedrich d'or pistole of 6.05 g fine gold was issued for 5 . This resulted in a cheaper Thaler Gold worth 1.21 g fine gold or 1.21 × 14.5 = 17.545 g fine silver.

The ( standard, 23.386 g silver) contained 1⁄10 of a Cologne Mark and originally corresponded to exactly two ( standard, 11.693 g silver), which meant that it could be one and the same coin as a double . Consequently, half a was referred to as a . However, this parity did not exist with the inferior south German lower denomination coins where the was worth two and 12 . The coinage standard was therefore adjusted in 1760.

The was introduced as the successor to the on 7 November 1750 in the Austrian crown lands. By the treaty of 20 September 1753, it was also introduced into the Bavarian Imperial Circle. Gradually it spread to southern Germany and Saxony. The last German was minted there in 1838. In Austria they were minted until 1856 before being superseded under the terms of the 1857 Vienna Minting Treaty.

The was the standard coin issued by many mints in the Holy Roman Empire to the standard of the Minting Convention of 1753, according to which 10 coins were minted for each 5⁄6 of fine silver (= 1 Cologne ≈ 233 g of silver). For this reason, the inscription "X EINE FEINE MARK" is written on many . Its fine weight is therefore 23.385 grammes of silver according to the Cologne weight standard.

The was worth 32 , in contrast to the , which was reckoned at 24 . It was therefore a 4⁄3 (counting) .

The succeeded the specie (containing 25.984 g fine silver) as the standard coin in most of the Holy Roman Empire, with a variety of subdivisions being used:

• 1 = 2 Austro-Hungarian florin, each florin equal to 20 or 60 .
• 1 = 2.4 South German gulden, each also containing 60 .
• 1 = 1+1⁄3 North German thaler currency unit, each of 24 .

Thus, converted to the theoretical (counting) of the old German Empire, which was worth 24 , the corresponded to a standard in relation to the Cologne . Meanwhile, the Prussian 'new' , minted in real terms from 1750 onwards, corresponded to a standard developed by Johann Philipp Graumann. So it was lighter and therefore worth less. The new superseded the with the Dresden Coinage Treaty of 1838, according to which, in the countries of the German Customs Union (Template:Langx), 2 minted to the standard equalled 3+1⁄2 to the standard.

During the early 19th century, the of 1+1⁄3 (17.5392 g fine silver per ) was superseded in Northern Germany by the Prussian thaler containing 1⁄14 of a Cologne mark or 16.70 g fine silver, while the of 2.4 South German gulden (9.73 g fine silver per gulden) was superseded by the 2.7- containing 9.524 g fine silver per gulden.

Subdivisions of the in Saxony around 1770

• 004⁄3 () 10 to 1 fine of silver, ("currency coin"Template:Efn
• 002⁄3  () 20 to 1 fine of silver,
• 001⁄3  (8 ) 40 to 1 fine of silver,
• 001⁄6  (4 ), 80 to 1 fine of silver,
• 01⁄12  (2 ), 160 to 1 fine , silver
• 01⁄24  (1 ), 320 to 1 fine , silver
• 01⁄48  (6 ), billon (alloy) ("fiat coin"Template:Efn)
• 1⁄240  (1 ), copper
• 1⁄480  (1 ), copper

See also

• North German
• Austro-Hungarian
• South German

External links

• at germanycash.de