1 Schilling

Ulm's civic coinage in this period was issued under the authority of the Imperial Free City, which had jealously guarded its minting rights since the 13th century. By 1502, Ulm remained one of the wealthier southern German trading centers despite the gradual erosion of its commercial dominance by rival cities along the Rhine and Danube networks. The brief two-year window of this issue suggests a short-term monetary authorization rather than a sustained series — not unusual for municipal coinage of this period, where production runs were often tied to specific trade fair cycles or local fiscal needs.