4 Pfennig - Frederik V of Denmark

Oldenburg's 4 Pfennig issues of 1762–63 fall within Frederik V's reign over the county, a holdover of Danish royal authority over this small north German territory that would persist until Napoleon reorganized the region's politics entirely. The billon composition — barely a quarter silver — reflects the chronic small-denomination coinage problem that plagued German minor states throughout the eighteenth century: too little silver to strike meaningful fractions, too much pride to abandon precious metal entirely.