1 Pfennig - John George I

John George I's small silver pfennig issues of 1621–23 fall squarely within the Kipper- und Wipperzeit, the currency debasement crisis that swept the Holy Roman Empire as princes, cities, and mints competed to produce debased coinage and export the resulting losses to their neighbors. Saxony was among the more restrained participants but was hardly immune — the electorate debased and reformed its small denominations repeatedly across these years.

Rahl/Krug 218 is a product of that reform pressure, not a stable monetary environment.