12 Kreuzer - Frederick Ulrich Kipper

Frederick Ulrich's administration of Brunswick-Wolfenbüttel was, by most historical measures, a disaster — and this coin is a direct product of that dysfunction. The Kipper und Wipper crisis of 1619–1622 saw German princes systematically debase their coinage to extract seigniorage profit, flooding the Holy Roman Empire with lightweight, overvalued small denominations before the scheme collapsed under its own inflation. Brunswick-Wolfenbüttel was among the more aggressive participants. This 12 Kreuzer would have circulated well above its intrinsic silver value, then become nearly worthless once the bubble broke in 1622.