1 Thaler - Eric II

Eric II of Brunswick-Calenberg spent much of his reign as a mercenary commander for foreign powers, most notably fighting for Charles V and later Henry II of France — a balancing act that left his principality chronically indebted and politically unstable. The 1563 thaler was struck during his final years, a period when his treasury depended heavily on silver from coin production rather than any stable fiscal base. He died the following year, leaving no legitimate heir, which extinguished the Calenberg line and transferred the territory to the Wolfenbüttel branch of the Welfs.