⅛ Thaler – Landgraviate of Hesse-Cassel
Context
Material
References
KM: #Click to copy to clipboard411
Numista: #181701
Obverse
Description:
Crowned mirrored FR monogram.
Script: Latin
Reverse
Description:
Central inscription in five lines: denomination, date, and mintmaster initials. Surrounding legend with a small cross atop.
Inscription:
KONIGL. U. FURSTL. HESS. LANDMUNTZ
VIII
EINEN
R. THAL.
1732.
L.R.
VIII
EINEN
R. THAL.
1732.
L.R.
Script: Latin
Edge
Mints
| Name | Mark |
|---|---|
| Kassel | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1732 | — | — |
Historical background
In 1732, the currency situation in the Landgraviate of Hesse-Cassel was complex and challenging, characterized by a fragmented and debased monetary system. The landgraviate did not have a uniform coinage; instead, it circulated a multitude of domestic and foreign coins, including Reichsthalers, Groschen, and Kreuzers, alongside coins from neighboring German states. The value of these coins was not fixed by their metal content alone but also by official "currency mandates" that assigned them fluctuating exchange rates, leading to confusion and facilitating clipping and counterfeiting. This instability was a legacy of the financial strains of previous decades, including the costly maintenance of a large standing army.
Economically, the situation was exacerbated by the policies of Landgrave Karl, who ruled until 1730. His extensive spending, particularly on military ventures and the opulent Karlsaue park in Kassel, had drained state coffers and led to inflationary practices like the issuance of debased coinage. While his successor, Landgrave Friedrich I (who was also King of Sweden), was less directly involved in Hessian affairs, the treasury remained under pressure. The primary goal of monetary policy in this period was not economic stability for the populace but rather the generation of "Schlagschatz" – the profit the mint earned from creating coins with a face value higher than their intrinsic metal value, a crucial source of sovereign revenue.
Consequently, merchants and the public faced daily difficulties in trade and contracts, as the real value of money was uncertain. The constant fluctuation and debasement eroded trust in the currency, hindered commerce, and effectively taxed the population through inflation. This problematic environment set the stage for future, more systematic attempts at reform, most notably under Landgrave Friedrich II later in the century, who would work to consolidate and stabilize the Hessian monetary system to support the state's growing role as a military powerhouse and fiscal-military state.
Economically, the situation was exacerbated by the policies of Landgrave Karl, who ruled until 1730. His extensive spending, particularly on military ventures and the opulent Karlsaue park in Kassel, had drained state coffers and led to inflationary practices like the issuance of debased coinage. While his successor, Landgrave Friedrich I (who was also King of Sweden), was less directly involved in Hessian affairs, the treasury remained under pressure. The primary goal of monetary policy in this period was not economic stability for the populace but rather the generation of "Schlagschatz" – the profit the mint earned from creating coins with a face value higher than their intrinsic metal value, a crucial source of sovereign revenue.
Consequently, merchants and the public faced daily difficulties in trade and contracts, as the real value of money was uncertain. The constant fluctuation and debasement eroded trust in the currency, hindered commerce, and effectively taxed the population through inflation. This problematic environment set the stage for future, more systematic attempts at reform, most notably under Landgrave Friedrich II later in the century, who would work to consolidate and stabilize the Hessian monetary system to support the state's growing role as a military powerhouse and fiscal-military state.
✨ Legendary