2 Thalers – Brunswick-Lüneburg-Calenberg

In 1671, the currency situation in the Duchy of Brunswick-Lüneburg, specifically the Principality of Calenberg, was characterized by significant fragmentation and instability, a common legacy of the Holy Roman Empire's decentralized political structure. The region was part of a complex monetary network where multiple authorities—the Emperor, the Imperial Circles, and individual princes—issued coinage, leading to a proliferation of different coins in circulation. These included not only local Thalers, Groschen, and Pfennigs but also numerous foreign coins from neighboring German states and the Netherlands, creating a chaotic and inefficient marketplace where exchange rates were fluid and often disputed.

The core of the problem was chronic debasement. Rulers, frequently in need of revenue for state-building projects and military expenditures, often reduced the precious metal content of their coinage while maintaining its face value, a practice known as Kipper- und Wipperzeit. Although the worst period of this had occurred earlier in the century, the temptation remained, and the varying quality of coins eroded public trust. This debasement disrupted trade, as merchants struggled to assess true value, and it penalized creditors and those on fixed incomes. For Duke John Frederick, who ruled Calenberg from 1665, this monetary disorder posed a direct challenge to administrative control and economic development.

Consequently, the period around 1671 was one of active, though difficult, monetary reform. Duke John Frederick, influenced by his experiences in Renaissance Italy, sought to standardize and stabilize the currency. Efforts were underway to assert stricter princely control over the minting process, suppress the worst of the debased coinage, and promote more reliable specie. These attempts were part of a broader trend among German princes to consolidate territorial sovereignty, with a stable and uniform currency seen as a key instrument of state power and economic modernization, even if full success remained elusive.