2 Pfennig

Ulm's municipal coinage of the 1620s was produced under the shadow of the Thirty Years' War, which had begun just six years earlier and was already reshaping trade networks across the Holy Roman Empire. As a Free Imperial City, Ulm retained the right to strike its own coin — a privilege it defended jealously even as the war disrupted silver supplies and devalued currency across the region.

The Kipper und Wipperzeit, the currency debasement crisis that peaked around 1621–23, had collapsed confidence in small-denomination coinage throughout the Empire. A silver 2 Pfennig struck in 1624 was something of a corrective statement — Ulm reasserting monetary credibility just as the worst of the debasement chaos was subsiding.