1 Thaler Pattern

Italy struck this pattern in 1918 as part of an effort to replace the Maria Theresa Thaler, which had dominated Red Sea trade since the 18th century and remained — minted with a perpetual 1780 date — the preferred currency across the Horn of Africa and Arabian Peninsula. The colonial administration in Asmara had long chafed at dependence on an Austrian coin, but local merchants refused substitutes, and no Italian replacement ever achieved acceptance. This piece went nowhere beyond the pattern stage.