½ Kreuzer – Kingdom of Bohemia

In 1745, the Kingdom of Bohemia found itself in a precarious monetary situation, deeply entangled in the wider fiscal strains of the Habsburg Monarchy during the War of the Austrian Succession (1740-1748). The conflict had placed an enormous financial burden on the state, leading to chronic deficits. To meet wartime expenses, the Vienna-based court chancellery, which controlled Bohemian finances, repeatedly resorted to debasing the coinage. This involved reducing the precious metal content in newly minted coins, particularly the silver Konventionstaler and the smaller kreuzers, while officially maintaining their face value. The result was a severe inflation that eroded public trust and disrupted commerce within the kingdom.

The currency landscape was notably complex, characterized by a circulation of both old, high-value coins and new, debased ones. This created a two-tier system where older Reichstalers and full-weight Maria Theresa thalers were hoarded or traded at a premium, while the newer, lighter coins flooded the market. Merchants and the population became wary, often demanding payment in specific types of coinage, which led to confusion and hindered economic activity. The situation was exacerbated by the circulation of foreign coins and the ongoing practice of clipping precious metal from existing coins, further degrading the overall money supply.

Ultimately, the monetary chaos of 1745 was a symptom of the Habsburg state's struggle for survival. The debasement provided immediate liquidity for the army but at the cost of long-term economic stability in Bohemia. It would not be until after the war, with the monetary reforms of 1748/49 and the establishment of the unified Conventionsmünzfuß (monetary standard), that a degree of stability was restored. Thus, the currency situation in 1745 represents a low point of wartime expediency, highlighting the direct impact of dynastic conflict on the economic well-being of the kingdom.