1 Schilling - Magnus Arensburg, four-sectioned shield

Magnus of Holstein was appointed Bishop of Ösel-Wiek in 1560 through Danish political maneuvering — his brother was King Frederick II — and spent most of his tenure scheming to carve out a secular kingdom for himself from the disintegrating Livonian Confederation. This schilling was struck just as that collapse accelerated, with the Livonian War grinding through the region and Magnus negotiating simultaneously with Poland, Sweden, and eventually Ivan the Terrible, under whose nominal suzerainty he would later style himself "King of Livonia" in 1570.

The Arensburg mint on Saaremaa island produced only a narrow window of coinage under Magnus before political circumstances made orderly minting impossible.