12 Kreuzer / 1/2 Dicken

Issued in 1622, this coin belongs to the inflationary surge known in German-speaking lands as the Kipper- und Wipperzeit — roughly 1619 to 1623 — when territorial mints across the Holy Roman Empire systematically debased their coinage by reducing silver content while maintaining face values. Schaffhausen, a small but independent Swiss canton, was not immune. The billon composition of this piece is itself a direct artifact of that crisis.

The HMZ suffix "e" indicates this falls within a numbered die sequence documented by Hürlimann, confirming it as one of several known variants struck during this single turbulent year.