1 Schilling – Duchy of Courland and Semigallia

In 1762, the Duchy of Courland and Semigallia, a Polish-Lithuanian vassal state on the Baltic coast, operated within a complex monetary system typical of the Polish-Lithuanian Commonwealth. The official currency in circulation was the Polish-Lithuanian złoty and its subunit, the grosz. However, the Duchy's economy was heavily influenced by its mercantile activities and its ruling dynasty's connections to the Russian Imperial court. Consequently, a significant amount of foreign specie, particularly Russian rubles and Dutch ducats, also circulated for trade and state finance, reflecting Courland's position as a hub for grain, timber, and shipbuilding exports.

The monetary situation was further complicated by the political turmoil of the era. Since 1758, the Duchy had been under effective Russian military occupation during the Seven Years' War, and its last Duke, Ernst Johann von Biron, was in exile in Russia. This period of Russian administration likely saw an increased practical use of Russian currency alongside the official Polish denominations. The economic stability of the Duchy was strained, as political uncertainty and the demands of the occupying power impacted its treasury and the reliability of its coinage.

The year 1762 proved pivotal, as the ascension of Tsar Peter III of Russia and his brief reign led to Biron's restoration to the ducal throne with Russian support by the end of the year. This political shift promised a return to sovereign administration and potentially a stabilization of the currency situation. However, the immediate background in 1762 is one of a transitional monetary environment, characterized by a blend of official and foreign currencies, awaiting the economic policies of a restored duke to bring clearer financial order.