1 Ducat later type, milled

Holland's gold ducat was among the most internationally trusted trade coins of the eighteenth century, circulating far beyond the Dutch Republic into the Baltic grain trade, the Levant, and deep into Russian commercial networks. Catherine the Great's Russia imported Dutch ducats in such quantities that the St. Petersburg mint eventually began striking official imitations — essentially counterfeits with state sanction — to meet domestic demand without hemorrhaging silver reserves.

The "later type" distinction reflects a die modification introduced around mid-century, separating this issue from earlier Holland ducats in the series. KM#12.3 specifically.