Joachimsthaler, Thaler Minting History and Evolution

[Zohar444]

I just received a very hard to find 1595 Rudolf II Taler from Joachimstal, Bohemia (now Czech Republic). Late night research with the help of a forum friend made this purchase easier to swallow. While the Taler is crude in design compared to others, the historical significance and grade for this type is unique.




I will explain the historical background in order to emphasize it's importance.

Background

The roots and development of the Thaler-sized silver coin date back to the mid-1400s. As the fifteenth century drew to a close the state of much of Europe's coinage was quite poor because of repeated debasement induced by the costs of continual warfare, and by the incessant centuries-long loss of silver and gold in indirect one-sided trades importing spices and porcelain and silk and other fine cloths and exotic goods from India, Indonesia and the Far East.

The Guldiner

From the later fifteenth century onwards, many princes and city-states began striking much larger and much finer silver coins. The first to do so was the Habsburg Austrian Archduke Sigismond of Tyrol who, in 1486, used his silver mines at Schwaz to mint a new prototype, the Guldengroschen, nicknamed the Guldiner, weighing 31.9 grams, which was worth 1 golden florin (Goldgulden). This was a very rare coin, almost a trial piece, but it did circulate so successfully that demand could not be met. These silver Guldiner, Gulden Groschen, or Talers were of the general size that the English later adopted for their silver crowns and, subsequently, the Americans for their silver dollars.



The Joachimsthaler

By 1518 Guldiners were popping up everywhere in central Europe. In Bohemia, a part of the Holy Roman Empire then controlled by the Jagellonian monarchs, a Guldiner was minted—of similar physical size but slightly less fineness—that was named the Joachimsthaler from the silver mined by the Counts of Schlick at a rich source near Joachimsthal (St. Joachim's Valley, Czech: Jáchymov) (now in the Czech Republic) where Thal (Tal) means "valley" in German.

Joachim, the father of the Virgin Mary, was portrayed on the coin - Joachimsthaler



Bohemia, Joachimsthal Map



The Old Mint Building




Jáchymov was the main center of silver mining in Europe after the 16th cent., but its present output is negligible. Similar coins began to be minted in neighboring valleys rich in silver deposits, each named after the particular 'thal' or valley from which the silver was extracted. There were soon so many of them that these silver coins began to be known more widely as 'thaler'. From these earliest 'thalaer' developed the new Thaler – the coin that Europe had been looking for to create a standard for commerce.

The Joachimsthaler coins minted in the 16th century became known as Thalers for short, with the later word "Dollar" and similar words for monetary units in many languages deriving from it.



It amazes me how a small town called Joachimsthal, facing a valley, has impacted world currency to this date.
 

[cpm9ball]

Thanks for taking the time to give us the historical background. It's a wonderful specimen.

Chris

[FilthyBroke]

Nice coin and very interesting story.  Quick newbie question, is it pronounced 'thay-ler', 'tay-ler', or is it 'taller', or something completely different?  I always assumed 'thay-ler'.

[Zohar444]

Pronounced "Taa" "Ler"

[regandon]

A great coin to add to your Austrian set. It is also one of the key Talers to have. 

[FilthyBroke]

Pronounced "Taa" "Ler"

Thanks.


Nice one, regandon!

[coinsarefun]

I want to thank you Zohar for a beautiful post explaining the importance of your purchase.

I always love they way that you attach history with the coin and it is very much appreciated
and I always look forward to your posts like these