1/2 Kreutzer

Bern's half-kreutzer issues of this period were fiduciary small change produced for daily market transactions at a time when the city-canton maintained jealously independent monetary policy from its Swiss confederate neighbors. The billon alloy — debased silver with substantial copper content — was a deliberate choice to keep production costs below face value while discouraging hoarding. Most pieces circulated hard and fast through Bern's markets and toll points, which explains why high-grade survivors are genuinely scarce despite a production window spanning a quarter century.