2 Ducats – Austrian Empire

In 1783, the currency situation in the Habsburg Monarchy was characterized by the complex legacy of the Seven Years' War and the ongoing reforms of Emperor Joseph II. The state treasury was burdened by significant debt, and the empire operated on a bimetallic system based on the Conventionsthaler (or Konventionstaler), a large silver coin. However, the financial strain of past conflicts had led to the debasement of subsidiary coinage. Lower-value coins, particularly the ubiquitous kreuzer, were minted with less intrinsic silver than their face value, a practice that eroded public trust and caused frequent confusion and instability in everyday transactions.

Emperor Joseph II, ruling as co-regent with his mother Maria Theresa until her death in 1780, was actively pursuing centralizing and modernizing reforms. In monetary matters, this included efforts to standardize and control the coinage across the empire's diverse lands. The aim was to suppress the multitude of regional and foreign coins in circulation and assert Vienna's sole authority over minting. Nonetheless, these efforts met with limited success in 1783, as old habits and the practical realities of trade across such a vast realm made full standardization impossible. The economy still relied heavily on a mix of physical specie and paper money, notably the Bankozettel issued by the Wiener Stadtbanco.

Overall, the currency landscape in 1783 was one of transition and tension. While the official Conventionsthaler provided a stable large-unit standard, the everyday monetary experience for most subjects was one of complexity and uncertainty due to debased small coinage. Joseph II's attempts to create a unified, state-controlled currency were a work in progress, facing the immense challenge of overhauling a deeply entrenched financial system while managing substantial state debt—a situation that would continue to pose significant challenges for the monarchy's economic health.