1 Thaler - Joachim Ernest

Joachim Ernest ruled Brandenburg-Ansbach from 1603 until his death in 1625, navigating the margraviate through the opening years of the Thirty Years' War with considerable difficulty. The 1623 date places this thaler squarely within the Kipper und Wipperzeit — the catastrophic debasement crisis of 1619–1623 in which dozens of German mints flooded circulation with underweight, copper-heavy coinage. Full-weight silver thalers from this precise period are relatively uncommon precisely because sound silver money was systematically hoarded or exported as debased coins drove it out of circulation.