2 Ducats - Christian V

Christian V spent much of the 1690s pressing his war claims and maintaining the costly military apparatus built up during the Scanian War. Gold multiples from Copenhagen in this period were struck primarily as presentation pieces and diplomatic gifts rather than for any meaningful circulation — the Danish crown had neither the economic interest nor the practical need to push high-denomination gold into trade channels. The 1691 date falls squarely in the reign's middle period, after the 1683 codification of Danish law under the Danske Lov but before the financial strains of the Nine Years' War fully bit into royal expenditure.

Fr#154 is among the scarcer Frederik/Christian-era Copenhagen gold multiples, with surviving examples concentrated almost entirely in institutional collections.