1 Goldgulden - Frederick I

Frederick I of Denmark acquired Schleswig and Holstein through a contested settlement with his nephew Charles V following the deposition of Christian II in 1523 — the same Christian II who had ordered the Stockholm Bloodbath three years earlier. Frederick's grip on the duchies was never entirely secure, and coinage issued under his authority there served an explicit political function during a decade when his legitimacy was under constant challenge from exiled Claimants backed by Habsburg money.

The Fr#14 attribution places this among the rarest Rhineland-type gulden struck in the northern duchies, a series with very few surviving examples documented in major collections.