1 Ducat - Louis II Geschenk-Dukat

The Geschenk-Dukat — literally "gift ducat" — was not struck for circulation but produced specifically as a royal presentation piece, distributed by the Bavarian court as a personal token from Ludwig II. The young king had ascended the throne in March 1864 at eighteen, and these ducats were among the earliest issues of his reign, handed out to favored courtiers and guests. The .986 fine standard follows the long-established ducat fineness used across German states, unchanged since the medieval trade tradition that made the denomination acceptable across European borders.