3 Ducats

Schaffhausen struck multiple-ducat pieces in 1632 at the height of the Thirty Years' War, a conflict that hit the Swiss Confederation's northern cantons with particular economic disruption as Imperial and Swedish armies repeatedly crossed the Rhine nearby. The city's decision to produce high-denomination gold at this moment likely reflects emergency reserve management rather than routine coinage policy — large-denomination gold issues from small Swiss city-states during this period frequently functioned as portable wealth instruments rather than circulating currency.

KM#44 is rarely encountered, as surviving examples suggest limited original production.