The rigsdaler specie was a unit of silver currency used in Norway from 1544, renamed as the speciedaler in 1816 and used until 1873. Norway used a common reichsthaler currency system shared with Denmark , Hamburg and Schleswig-Holstein until 1873 when the gold standard was implemented in Scandinavia and the German Empire .
25-607: The reichsthaler currency system used in Northern Europe until 1873 consisted of the silver Reichsthaler specie ( Rigsdaler specie ) worth 120 skillings in Norway and Denmark, and the lower-valued Rigsdaler courant worth 4 ⁄ 5 th of specie or 96 skillings (both units worth 60 and 48 schellingen , respectively, in Hamburg and Schleswig-Holstein). The Hamburg Bank equated 9 1 ⁄ 4 reichsthalers specie to
50-434: A Cologne Mark of fine silver, hence 25.28 g silver in a rigsdaler specie . In the late 18th and early 19th centuries, coins were issued in denominations of 1, 2, 4, 8 and 24 skilling, 1 ⁄ 15 , 1 ⁄ 5 , 1 ⁄ 3 , 1 ⁄ 2 , 2 ⁄ 3 and 1 rigsdaler specie. In 1695, government notes were issued for 10, 20, 25, 50 and 100 rigsdaler (spelt rixdaler). In 1807, notes were reintroduced by
75-548: A Cologne Mark or 25.984 g fine), and fixed at 68 kreuzer . The new coin was popularly accepted but at a higher value of 72 kreuzer or 1.2 Gulden. It consequently doomed the (now-overvalued) gulden coin. Reichsthalers prevailed as circulating coin, and the gulden again became an uncoined currency unit equivalent to 25.984/1.2 = 21.653 g fine silver. This Reichsthaler specie or coin would continue to be divided into 24 groschen but would rise in value vs currency at 1.5 Gulden or 90 kreuzer by 1615. The Dutch adopted it as
100-645: A Cologne Mark. The Zinnaische currency standard of 1667 was the first to define the North German thaler , de jure , as a currency unit worth less than the Reichsthaler specie . The succeeding Leipzig standard of 1690 then became the prevailing thaler and gulden currencies throughout the Holy Roman Empire . A summary of the thaler standards, in brief: All North German thalers and Vereinsthalers were retired after 1873 in favor of
125-540: A collection of currency systems loosely related to the Frankish Carolingian monetary system with one pound (later Gulden) equal to 20 shillings (later Groschen ), and a shilling equal to 12 pennies ( Pfennig ). Many feudal rulers claimed the right to issue their own currency in their own domains, and often debased them in moments of stringency. Developments in the French livre currency system influenced
150-477: A few years. The definition of a gold and a silver 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,
175-573: A uniform currency standard for the states of the Holy Roman Empire . Below is a history (in terms of grams of silver) of the Reichsthaler specie and its predecessor, the Guldengroschen ; as well as the Gulden currency unit used before 1618. The history of the lower-valued thaler currency unit is continued under North German thaler . Since the Holy Roman Empire was a loose federation of hundreds of feudal and princely rulers, Germany had
200-536: The rijksdaalder with 25.40 g fine silver and valued at 2.5 Dutch guilders as of 1618. The Thirty Years' War 1618-48 and the Kipper und Wipper financial crisis of 1618-23 led to widespread currency debasements of up to 10 gulden to a Reichsthaler specie. It destroyed the financial system created during the Reichsmünzordnung era as well as Empire's centralized authority over the states. After 1630
225-589: The German gold mark , with each mark containing 100 ⁄ 279 gram of fine gold, at the rate of 1 thaler = 3 marks, or a gold ratio of 15.5. The Reichsthaler specie was widely issued in Germany for 200 years but was discontinued in many states after 1754 in favor of the lighter Conventionsthaler of 1 ⁄ 10 th a Cologne Mark or 23.3856 g fine silver. However it survived both as coin and bank money in several Northern European states until they adopted
250-483: The Reichsthaler specie , was a standard thaler silver coin introduced by the Holy Roman Empire in 1566 for use in all German states, minted in various versions for the next 300 years, and containing 25–26 grams fine silver. Reichsthaler was also the name of a currency unit worth less than the Reichsthaler specie introduced by several North German states from the 17th century; discussed separately under North German thaler . Several old books confusingly use
275-688: The gold standard in 1875. In 1583 the Dutch rijksdaalder coin of 25.40 g fine silver was the counterpart of the reichsthaler in the Dutch Republic . From 1608 to 1659 it then functioned as bank money of the Bank of Amsterdam ( Amsterdam Wisselbank ), worth 2.5 gulden banco and representing 25.40 g fine silver actually received. From 1659 to 1800 the bank money was redefined as the Silver Dukat of 24.36 g fine silver worth 2.4 gulden banco, which
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#1732797338985300-479: The 16th century, and was a natural choice of unit for a unified German currency. The Reichsmünzordnung were a series of minting ordinances of the Holy Roman Empire defining the monetary system that would unify the numerous disparate currencies of its member states. The ordinance of 1524 defined two coins of equal value to the Reichsgulden currency. This remained an ideal or unimplemented system until
325-648: The currency in Denmark and Norway until 1875, with the higher-valued Rigsdaler Specie (25.28 g fine silver) also coexisting with lower-valued Rigsdaler currency or courant ; see Danish rigsdaler & Norwegian rigsdaler . In Sweden, the Riksdaler Specie of 25.50 g fine silver also coexisted with other riksdaler in copper or lower-valued currency; see Swedish riksdaler . Reichsm%C3%BCnzordnung The Reichsmünzordnung ( German: [ˈʁaɪçsˌmʏntsˌʔɔʁdnʊŋ] , " imperial minting ordinance")
350-484: The different North German states reconstructed their currency systems with a Thaler worth 24 gutegroschen or 1 1 ⁄ 2 gulden , but little is on record with regard to the mint systems until after 1667. They were thus on a de facto thaler currency unit with some uncertainty in its value versus the Reichsthaler specie . A currency trial done in 1665 indicated a lower prevailing (and unofficial) rate of 14 1 ⁄ 4 gulden or 9 1 ⁄ 2 thaler to
375-481: The evolution of the German currencies. The French denier led to the pfennig in the 9th century. France's 1-shilling gros tournois then became the groschen in the 13th century. Finally, the ounce-sized French livre & Dutch guilder of the 15th century helped define Germany's ounce-sized Guldengroschen and its subdivisions. The Guldengroschen was a large silver coin of approximately 30 grams minted from
400-442: The following changes were made in 1555: The Reichsthaler turned out to be the most successful coin resulting from the 16th century Reichsmünzordnungs . It was borne out of an ordinance in 1559 discontinuing the 72-kreuzer guldengroschen and proposing in its place a smaller 60-kreuzer gulden coin. Popular demand for a replacement to the ounce-sized coin resulted in the Reichsthaler , 1 ounce silver of 8/9 fineness (hence, 9 to
425-466: 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
450-485: The government, in denominations of 1, 5, 10 and 100 rigsdaler courant, with 12 skilling notes added in 1810. In 1813, Rigsbankens Norske Avdeling began issuing notes. in denominations of 1, 5, 50, and 100 Rigsbankdaler. Subsequent series were issued by Norges Midlertidige Rigsbank (1814), Stattholderbevis (1815), and Norges Bank (1817–22 to the present). After the Napoleonic Wars Denmark dropped out of
475-525: The mine output of nations located southeast of modern-day Germany . The coin's name denotes its approximate equivalence to the Dutch guilder and French livre parisis of the 15th century, then worth around 1 ounce of silver or 2.6 grams gold. Though initially of varying weights and even facing competition from the Joachimsthaler , it was a coin that succeeded in the era of abundant precious metals in
500-572: The rate of 1 krone/krona = 1 ⁄ 2 Danish rigsdaler = 1 ⁄ 4 Norwegian speciedaler = 1 Swedish riksdaler . In 1816, coins in circulation from the previous currency remained in circulation, with only 1 skilling coins being minted. A new coinage was introduced in 1819, consisting of copper 1 and 2 skilling and silver 8 and 24 skilling, 1 ⁄ 2 and 1 specidaler. Silver 2 and 4 skilling coins were introduced in 1825, followed by copper 1 ⁄ 2 skilling pieces in 1839, silver 12 skilling in 1845 and silver 3 skilling in 1868. It
525-523: The same term Reichsthaler for the specie silver coin as well as the currency unit. This is disambiguated by referring to the full-valued coin as the Reichsthaler specie and the lower-valued currency unit as the Reichsthaler currency (courant, kurant) . The Reichsthaler – literally, the dollar of the realm – was the most successful standard silver coin resulting from the 1524–1559 Reichsmünzordnungen or 'imperial minting ordinances' defining
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#1732797338985550-605: The system described above in favor of a lower-valued Danish rigsdaler . However Norway retained the system even after its union with Sweden , renaming the specie coin as the Speciedaler but still divided into 120 skillings . It was replaced by the Norwegian krone when Norway joined the Scandinavian Monetary Union . An equal valued krone/krona of the monetary union replaced the three currencies at
575-475: Was also subsequently named (confusingly) as the rijksdaalder . In 1618 the full-weight Reichsthaler Specie coin of 25.984 g fine silver was the bank money of the Hamburger Bank worth 3 Hamburg mark banco. Its weight was redefined after 1770 at 9 1 ⁄ 4 to a Cologne Mark of fine silver, or 25.28 g, and it was continued to be used until German reunification in 1871. The Rigsdaler served as
600-468: 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
625-493: Was made out of Iron. Norges Bank began issuing notes in 1817, with denominations of 24 skilling, 1 ⁄ 2 , 1, 5, 10, 50 and 100 speciedaler. This Norwegian history -related article is a stub . You can help Misplaced Pages by expanding it . This article about a unit of currency is a stub . You can help Misplaced Pages by expanding it . Reichsthaler The Reichsthaler ( German: [ˈʁaɪçsˌtaːlɐ] ; modern spelling Reichstaler ), or more specifically
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