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12 Pfennig - Ernest III Kipper
| Issuer | Holstein-Schaumburg-Pinneberg, County of |
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| Year | 1621 |
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| Currency | Thaler |
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| Obverse description | Central shield bearing quartered arms with an inescutcheon, superimposed upon a long cross, the whole surmounted by a large ornate crown. The legend, identifying the issuing count Ernest III, is arranged in segments around the shield in the field, reading ER - NES - D. G. P. F. - C. H(O). - E. S., separated by the arms of the cross. |
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| Reverse script | Latin |
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| Additional information |
Kipper und Wipper — the debasement crisis that convulsed the Holy Roman Empire from roughly 1619 to 1623 — produced exactly this kind of issue. Minor German territories exploited the absence of centralized monetary enforcement by minting vast quantities of debased coins nominally valued above their metal content, then flooding neighboring jurisdictions with them before the fraud became apparent. Holstein-Schaumburg-Pinneberg, a small county with limited resources, participated actively. Ernest III used the profits to shore up finances during the opening years of the Thirty Years' War.