4 Skilling - Christian III Roskilde mint

Christian III struck this issue in the immediate aftermath of the Count's War — a brutal civil conflict that ended with his siege of Copenhagen in 1536 and the simultaneous abolition of the Danish Catholic Church. The Roskilde mint, historically the seat of the most powerful bishopric in Scandinavia, was by this point operating under a crown that had just imprisoned its entire episcopate and seized ecclesiastical wealth on a scale unmatched in Danish history. That confiscated silver almost certainly fed the bullion supply behind issues like this one.

Billon at .250 fineness reflects deliberate monetary policy, not material shortage — Christian's government was managing a post-war economy while simultaneously financing Lutheran church reorganization.