1 Örtug Visby, type 45

Visby's municipal coinage from this period reflects a city in sharp political decline. Once the dominant Baltic trading hub under Hanseatic primacy, Visby had been sacked by Valdemar IV of Denmark in 1361 — losing much of its merchant population and its grip on regional commerce. The örtug issues of the early fifteenth century were struck by a city still nominally functioning as a trading center but operating well within the shadow of its former influence.

Type distinctions within the Visby örtug series hinge largely on die-cut shield variants and letter forms, making attribution to specific emission periods genuinely difficult without reference to Lagerqvist's Swedish medieval coin typology.