Conventionsthaler

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File:Konventionstaler.jpg, 1822; Frederick Augustus I, King of Saxony, 1813, Dresden Mint]]

The {{lang|de-1901|Conventionstaler}} or {{lang|de|Konventionstaler}} ("Convention {{lang|de-1901|thaler}}"),{{efn|In German the name was spelt {{lang|de-1901|–thaler}} until 1901.}} was a standard silver coin in the Austrian Empire and the southern German states of the Holy Roman Empire from the mid-18th to early 19th-centuries. Its most famous example is the Maria Theresa thaler which is still minted today. The {{lang|de-1901|Conventionsgulden}} was equivalent to a {{fraction|1|2}} {{lang|de-1901|Conventionsthaler}}.

History

The Austrian Empire introduced the Convention currency standard in 1754 to replace the Leipzig standard of 1690, after a drop in the gold–silver price ratio from 15 to 14.5 in the 1730s unleashed a flood of cheaper {{lang|de|thalers}} defined in gold. The Leipzig standard defined the North German thaler currency unit at {{frac|3|4}} the {{lang|de|Reichsthaler}} specie of 25.984 g, or 19.488 g fine silver. In contrast, in 1741 the gold Friedrich d'or pistole of 6.05 g fine gold was issued for 5 {{lang|de|thalers}}. This resulted in a cheaper Thaler Gold worth 1.21 g fine gold or 1.21 × 14.5 = 17.545 g fine silver.

The {{lang|de-1901|Conventionsthaler}} ({{lang|de|10-Thaler}} standard, 23.386 g silver) contained {{fraction|1|10}} of a Cologne Mark and originally corresponded to exactly two {{lang|de|Conventionsgulden}} ({{lang|de|20-Gulden}} standard, 11.693 g silver),Miller, Manfred (2020). {{lang|de|Münzverwaltungslehre}} at academia.edu. Retrieved 30 May 2022. which meant that it could be one and the same coin as a double {{lang|de|gulden}}. Consequently, half a {{lang|de-1901|Conventionsthaler}} was referred to as a {{lang|de|gulden}}. However, this parity did not exist with the inferior south German lower denomination coins where the {{lang|de-1901|Conventionsthaler}} was worth two {{lang|de|gulden}} and 12 {{lang|de|kreuzer}}. The {{lang|de|gulden}} coinage standard was therefore adjusted in 1760.

The {{lang|de-1901|Conventionsthaler}} was introduced as the successor to the {{lang|de|Reichsthaler}} on 7 November 1750 in the Austrian crown lands. By the {{lang|de|Konventionsfuß}} treaty of 20 September 1753, it was also introduced into the Bavarian Imperial Circle.Sprenger, Bernd (2002). Das Geld der Deutschen. F. Schöningh. pp. 137–138 Gradually it spread to southern Germany and Saxony. The last German {{lang|de-1901|Conventionsthaler}} was minted there in 1838. In Austria they were minted until 1856 before being superseded under the terms of the 1857 Vienna Minting Treaty.

The {{lang|de-1901|Conventionsthaler}} was the standard {{lang|de|thaler}} coin issued by many mints in the Holy Roman Empire to the {{lang|de|20-Gulden}} standard of the Minting Convention of 1753, according to which 10 coins were minted for each {{frac|5|6}} of fine {{lang|de|mark}} silver (= 1 Cologne {{lang|de|mark}} ≈ 233 g of silver).von Schrötter, Friedrich, N. Bauer, K. Regling, A. Suhle, R. Vasmer and J. Wilcke. (1970). Wörterbuch der Münzkunde. Berlin: de Gruyter. Reprint of 1930 edn. p. 317. For this reason, the inscription "X EINE FEINE MARK" is written on many {{lang|de|Conventionsthalers}}._ (1975). {{lang|de|Archiv für deutsche Postgeschichte}}. Geselleschaft für Deutsche Postgeschichte, p. 121. Its fine weight is therefore 23.385 grammes of silver according to the Cologne {{lang|de|mark}} weight standard.

The {{lang|de-1901|Conventionsthaler}} was worth 32 {{lang|de|groschen}}, in contrast to the {{lang|de-1901|Reichstaler}}, which was reckoned at 24 {{lang|de|groschen}}. It was therefore a {{fraction|4|3}} (counting) {{lang|de|Reichstaler}}.

The {{lang|de-1901|Conventionsthaler}} succeeded the {{lang|de-1901|Reichsthaler}} specie (containing 25.984 g fine silver) as the standard coin in most of the Holy Roman Empire, with a variety of subdivisions being used:

1 {{lang|de-1901|Conventionsthaler}} = 2 Austro-Hungarian florin, each florin equal to 20 {{lang|de|groschen}} or 60 {{lang|de|kreuzer}}.Burkart, Werner (2007). Daxlanden. p. 629.
1 {{lang|de-1901|Conventionsthaler}} = 2.4 South German gulden, each also containing 60 {{lang|de|kreuzer}}.
1 {{lang|de-1901|Conventionsthaler}} = {{frac|1|1|3}} North German thaler currency unit, each of 24 {{lang|de|groschen}}.

Thus, converted to the theoretical (counting) {{lang|de|Reichstaler}} of the old German Empire, which was worth 24 {{lang|de|groschen}}, the {{lang|de-1901|Conventionsthaler}} corresponded to a {{lang|de-1901|{{frac|13|1|3}}-thaler}} standard in relation to the Cologne {{lang|de|mark}}. Meanwhile, the Prussian 'new' {{lang|de-1901|Reichstaler}}, minted in real terms from 1750 onwards, corresponded to a {{lang|de-1901|14-thaler}} standard developed by Johann Philipp Graumann. So it was lighter and therefore worth less. The new {{lang|de-1901|Reichstaler}} superseded the {{lang|de-1901|Conventionsthaler}} with the Dresden Coinage Treaty of 1838, according to which, in the countries of the German Customs Union ({{langx|de|Deutscher Zollverein}}), 2 {{lang|de-1901|thaler}} minted to the {{lang|de|14-thaler}} standard equalled {{frac|3|1|2}} {{lang|de|gulden}} to the {{lang|de|{{frac|24|1|2}}-gulden}} standard.

During the early 19th century, the {{lang|de-1901|Conventionsthaler}} of {{frac|1|1|3}} {{lang|de-1901|thaler}} (17.5392 g fine silver per {{lang|de-1901|thaler}}) was superseded in Northern Germany by the Prussian thaler containing {{frac|1|14}} of a Cologne mark or 16.70 g fine silver, while the {{lang|de-1901|Conventionsthaler}} of 2.4 South German gulden (9.73 g fine silver per gulden) was superseded by the 2.7-{{lang|de|gulden}} {{lang|de|Kronenthaler}} containing 9.524 g fine silver per gulden.

Subdivisions of the {{lang|de-1901|Conventionsthaler}} in Saxony around 1770

{{0|00}}{{Fraction|4|3}} {{lang|de|thaler}} ({{lang|de-1901|Conventionsthaler}}) 10 to 1 fine mark of silver, {{lang|de|Kurantmünze}} ("currency coin"{{efn|A {{lang|de|Kurantmünze}} is type of currency coin, i.e. one whose value is based on its intrinsic worth and so usually made of gold or silver.}}
{{0|00}}{{frac|2|3}} {{lang|de-1901|thaler}} ({{lang|de|Conventionsgulden}}) 20 to 1 fine {{lang|de|mark}} of silver, {{lang|de|Kurantmünze}}
{{0|00}}{{frac|1|3}} {{lang|de-1901|thaler}} (8 {{lang|de|groschen}}) 40 to 1 fine {{lang|de|mark}} of silver, {{lang|de|Kurantmünze}}
{{0|00}}{{frac|1|6}} {{lang|de-1901|thaler}} (4 {{lang|de|groschen}}), 80 to 1 fine {{lang|de|mark}} of silver, {{lang|de|Kurantmünze}}
{{0}}{{Fraction|12}} {{lang|de-1901|thaler}} (2 {{lang|de|groschen}}), 160 to 1 fine {{lang|de|mark}}, silver {{lang|de|Kurantmünze}}
{{0}}{{Fraction|24}} {{lang|de-1901|thaler}} (1 {{lang|de|groschen}}), 320 to 1 fine {{lang|de|mark}}, silver {{lang|de|Kurantmünze}}
{{0}}{{Fraction|48}} {{lang|de-1901|thaler}} (6 {{lang|de|pfennig}}), billon (alloy) {{lang|de|Scheidemünze}} ("fiat coin"{{efn|A {{lang|de|Scheidemünze}} is a type of fiat money; a circulation coin of lower value than its intrinsic worth.}})
{{Fraction|240}} {{lang|de-1901|thaler}} (1 {{lang|de|pfennig}}), copper {{lang|de|Scheidemünze}}
{{Fraction|480}} {{lang|de-1901|thaler}} (1 {{lang|de|heller}}), copper {{lang|de|Scheidemünze}}