48 Kreuzers - Henry Wenceslaus and Charles Frederick I

The 48-kreuzer denomination was a creature of the Kipper und Wipper crisis — the catastrophic currency debasement that swept the Holy Roman Empire between roughly 1619 and 1623, when dozens of minor princes, ecclesiastical lords, and municipal mints raced to strike overvalued billon and debased silver coins, pocket the difference in metal value, and pass the loss onto their neighbors. Münsterberg-Oels, a small Silesian duchy held jointly by the Piast-descended dukes Henry Wenceslaus and Charles Frederick I, participated aggressively in this competitive debasement.

The 48-kreuzer piece — sometimes called a Reichsort — was itself a denomination born of manipulation, nominally worth half a Reichstaler but struck far below that metal content. FuS 2246 is among the documented joint-reign issues for these two dukes, whose combined rule of the duchy ended with the extinction of their line within a generation.