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1 Kreuzer - Frederick III Graz

Issuer Duchy of Styria (Austrian States)
Year 1486
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Currency Pfennig (800-1500)
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Obverse description Crowned imperial double-headed eagle displayed in the field, with wings spread and heads facing outward to either side, rendered in the bold, flat relief characteristic of late 15th-century Habsburg hammered coinage. The eagle's plumage is indicated by stylised feather detailing, and the imperial crown surmounts both heads. The surrounding field is plain, with the abbreviated legend disposed around the periphery. The design reflects the heraldic authority of Emperor Frederick III as Holy Roman Emperor.
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Obverse lettering FR*R*IMP*A*E*I*O*V
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Frederick III issued this kreuzer from Graz during the final years of a reign defined by chronic financial embarrassment and near-constant siege — most famously when Matthias Corvinus of Hungary occupied Vienna in 1485 and held it for five years, forcing the Habsburg court to operate from Styrian strongholds. The Graz mint became correspondingly more active during this period out of sheer administrative necessity.

At 0.69 g, these small silver pieces were already below the theoretical kreuzer standard, reflecting the steady debasement that plagued Habsburg petty coinage through the 1480s.

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