2 Ducats

Bern's late 17th-century ducat issues were struck at a moment when the city-republic was managing substantial financial reserves accumulated through the sale of mercenary services — the famous Solddienst income that made Bern one of the wealthiest urban governments in Europe. The 1698 date falls within a relatively stable minting period, though output was never large; Bern struck gold primarily for diplomatic gifts and cross-border trade with Italian markets, not domestic circulation.

The Fr#138 attribution places this squarely in Friedberg's Swiss series, and HMZ 2#187 confirms the type. Dies for Bernese ducats of this period were cut locally, and alignment variants between obverse and reverse are frequently encountered.