Münzordnung#

Mint Rules: The basis of coinage in the Middle Ages was the Carolingian Order: 1 pound silver (lb.) was struck into 240 pfennigs (den.), with the schilling (ss) as an additional monetary unit worth 20 or 30 pfennigs in Austria and Bavaria respectively. In the late Middle Ages monetary chaos was caused by inflation and the issuing of heavy coins, which was to be brought under control by introducing coinage orders: the mint rules of Friedrich III, 1481, regulated the coinage of ducats and "groschen" as well as the use of pfennigs as token coins. In the 16th century, i.e. 1524, 1551 and 1559, imperial coinage orders were issued. The Privilegium maius guaranteed a special position for the Habsburgs in terms of coinage and Ferdinand I issued separate mint rules with slightly lower values for the Austrian lands (1524). The mint rules of the Holy Roman Empire of 1559 also came into force in Austria and remained in effect until its fundamental provisions were modified under Empress Maria Theresia in 1750 and the mint convention concluded with Bavaria in 1753 ("convention coin", fl. C. C., until 1858).

Literature#