1 Pfennig – Bishopric of Salzburg

In 1688, the Prince-Archbishopric of Salzburg operated within the complex monetary landscape of the Holy Roman Empire. The territory did not possess a central, unified minting authority of its own for large-scale coin production. Instead, its currency system was a patchwork of externally minted coins that circulated alongside local issues. The most important of these were the silver Reichsthaler and Gulden, whose values were defined by Imperial ordinances, particularly the Reichsmünzordnung (Imperial Minting Ordinance). However, the actual circulating medium consisted heavily of smaller denomination coins, often minted locally by the archbishops or by neighboring states, leading to frequent issues of debasement and inconsistent value.

The reigning prince-archbishop at the time, Johann Ernst von Thun (ruled 1687-1709), inherited a financial system strained by the military demands of the ongoing Great Turkish War (1683-1699). Salzburg, like other German states, contributed troops and funds to the Imperial Habsburg war effort against the Ottoman Empire. This fiscal pressure often tempted authorities to engage in Kipper- und Wipperzeit practices—clipping coins or issuing lightweight, debased coinage to generate short-term revenue—which eroded public trust in the currency. While von Thun was a noted reformer in administration and construction, the economic realities of 1688 meant maintaining a stable currency was a significant challenge amidst broader imperial turmoil.

Consequently, daily commerce in Salzburg relied on a mix of coins whose real value was determined by their precious metal content and the often-fluctuating exchange rates between them. Alongside official Reichsthalers, smaller Kreuzer and Pfennig coins facilitated local trade. The lack of a strong, centralized minting policy meant that the bishopric's monetary stability was vulnerable to regional economic shifts and the inflationary practices of other states, whose coins flooded the market. Thus, the currency situation in 1688 was one of fragile dependency on imperial frameworks and susceptible to the destabilizing fiscal policies common across the Empire during a period of prolonged warfare.