1/8 Thaler

Nuremberg struck fractional thalers in significant quantities during the 1690s partly to address chronic small-denomination shortages that plagued the city's commercial economy — it was one of the most active trading hubs in the Holy Roman Empire, and demand for reliable silver coinage at sub-thaler denominations was constant. The 1693 date places this piece squarely within the disruptions of the Nine Years' War, when imperial fiscal pressures and interrupted trade routes made municipal coinage from Nuremberg unusually important to regional commerce.

The Kelln and Slg. Erlangen references narrow this to a well-documented but genuinely scarce fractional type.