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2 Guldens

Issuer Königlich Bayerische Staats-Schuldentilgungs-Commission
Year 1866
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Currency Gulden (1857-1873)
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Obverse description Black letterpress print on green underprint, within an ornamental frame with four identical cartouche corners each bearing the denomination numeral. Allegorical heads of Bavaria appear in circular medallions to the left and right, while the crowned coat of arms of the Kingdom of Bavaria, supported by two crowned lions, occupies the upper register. A circular medallion at the foot of the note carries the royal Bavarian "KB" monogram.
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Reverse description Printed in brown and green, the reverse centres on an oval vignette containing a bust of the allegorical figure of Bavaria facing left, an oak wreath raised in her left hand above her head and oak leaves held in her right hand. The denomination numeral appears in two ornate rosettes flanking the central vignette, one to the left and one to the right.
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The Königlich Bayerische Staats-Schuldentilgungs-Commission — the Royal Bavarian State Debt Redemption Commission — was an unusual issuer for circulating paper money, its primary mandate being debt management rather than currency emission. That this body was authorizing small-denomination notes in 1866 reflects the fiscal strain Bavaria was under, compounded by the disastrous Austro-Prussian War that same year, in which Bavaria backed Austria and found itself on the losing side.

Printing was contracted to Carl Naumann's Druckerei in Frankfurt — then still a free city absorbed into Prussia only weeks after this note's issue year. Bavaria would lose its monetary independence entirely within a decade, subsumed into the German Reich in 1871.

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