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18 Gröscher - Frederick II
| Issuer | Prussia, Kingdom of |
|---|---|
| Year | 1764-1765 |
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| Composition | Silver (.522) |
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| Edge | Plain |
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| Mintage | 1764 E - (fr) Old.# 195 - petite tête - 1764 E - (fr) Old.# 196 - grande tête - 1765 E - (fr) Old.# 196 - |
| Additional information |
The 18 Gröscher was one of the most controversial coins Frederick II ever authorized. Struck during the final years of the Seven Years' War and its immediate aftermath, these pieces were part of a deliberate debasement policy Friedrich ran through the Ephraim brothers — Veitel Heine Ephraim and his associates — who operated the Prussian mints under contract and systematically reduced silver content while maintaining face value. The scheme funded the war but poisoned trade throughout northern Germany, and the coins earned the contemptuous popular rhyme attributing them to Ephraim's face on both sides.
By 1764, Frederick was under pressure to restore monetary credibility, though the 18 Gröscher issues of this period still reflect the debased standard rather than any genuine reform.