1 Schilling – Duchy of Courland and Semigallia

In 1764, the Duchy of Courland and Semigallia, a Polish-Lithuanian vassal state on the Baltic coast, faced a complex monetary situation typical of its semi-autonomous status. The duchy did not possess the full right of coinage (jus monetae), meaning its monetary system was heavily influenced by and integrated with that of the Polish-Lithuanian Commonwealth. The primary circulating coins were Polish-Lithuanian issues, such as the złoty, grosz, and ducat, alongside a significant presence of foreign specie, particularly Dutch thalers and German coins, which were essential for the duchy's active participation in Baltic trade.

While limited Courlandic coinage existed, notably the distinctive "Courland ducats" minted from gold purportedly sourced from the duchy's short-lived colonial ventures, these were more commemorative or prestige items than a functional circulating currency. The practical economy relied on a bimetallic system of silver and copper coins from the Commonwealth's mints. This dependence meant that the duchy's monetary stability was directly tied to the broader, often turbulent, fiscal policies and inflationary pressures of the Commonwealth, which was itself struggling with monetary reform during this period.

Therefore, the currency situation in 1764 was one of constrained sovereignty and external dependency. Duke Ernst Johann von Biron, recently restored to the throne after two decades of exile, likely viewed monetary reform as a low priority amidst the more pressing tasks of consolidating political control and rehabilitating the duchy's economy. The monetary landscape remained fragmented, characterized by the concurrent circulation of Commonwealth and foreign coins, with no unified or independent Courlandic monetary policy to address the needs of its local economy.