1 Ducat

Obwalden was one half of the peculiar Swiss arrangement known as Unterwalden — a region so small it functioned as two separate half-cantons, each with its own coinage rights. The 1730–1732 ducat series was struck at a moment when many Swiss cantons were asserting their minting privileges largely for prestige rather than commercial necessity, the ducat denomination being almost entirely a vehicle for diplomatic gifts and inter-cantonal payments rather than everyday trade.

Obwalden's gold output was always extremely limited, and surviving ducats from this emission are genuinely scarce across all grades. The HMZ and Divo/Tob references together list only a handful of documented specimens.