1 Thaler

Saxony's Staatskasse notes occupied an awkward position in the German monetary patchwork of the 1860s — state treasury instruments rather than bank-issued currency, technically backed by government revenue rather than a note-issuing bank's reserves. The 1867 date places this note in the final years of independent Saxon monetary authority; the North German Confederation's formation that same year began the process that would end with the Reichsmark's introduction in 1871 and the effective obsolescence of all such state issues.

Giesecke & Devrient had been operating in Leipzig since 1852, making the printing of Saxon state paper a local contract in the most literal sense — press and client separated by a short carriage ride.