1/2 Mark - Wilhelm II type 2 - small shield - Pattern

Pattern coinage of the German Empire rarely surfaces with documentation linking it to a specific policy decision, and this piece is no exception — the administrative record is thin. What is clear is that by 1913, the Imperial Treasury was actively exploring gold for fractional denominations that had been struck in silver since 1873, likely driven by inflationary pressure on silver's purchasing parity rather than any coherent reform plan. The project went nowhere; World War I effectively ended German gold coinage within the year.