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1 Guldiner - Maximilian I. Hall

Issuer Habsburg Monarchy
Year 1490-1519
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Reference(s) Vogelhuber#11, Dav EC I#8005
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Obverse script Latin
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Reverse description A heraldic composition of five crowned coats of arms arranged in a cruciform grouping: the crowned Imperial double-headed eagle occupies the center, flanked to the left by the crowned arms of Old Hungary and to the right by the arms of Austria surmounted by an archducal hat; below these appear the arms of Burgundy and Styria. The entire arrangement is interlaced with the collar of the Order of the Golden Fleece, underscoring Maximilian's role as sovereign of the Order. The surrounding Latin legend proclaims his dominion over numerous European provinces, distributed around the coin's periphery within a beaded border.
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The Hall Guldiner is effectively the founding document of the modern silver coin. Maximilian's Tyrolean mines at Schwaz — among the most productive in Europe at the time — gave him the bullion to attempt something no mint had managed at scale: a large silver coin equivalent in value to the gold Gulden. The first pieces were struck at Hall in the Inn valley in 1486, and the denomination's logic spread across Europe within a generation, directly ancestral to the Thaler and, ultimately, the dollar.

Schwaz production peaked around 1523, but the coins struck under Maximilian himself predate that apex, drawn from mines already operating at extraordinary output during his reign.

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