5 Ducats - Carl XI 2nd portrait

Reval — modern Tallinn — occupied an awkward position in 1672, nominally a city of the Swedish Empire yet fiercely protective of its medieval municipal privileges. Carl XI was then still a minor governing through regency, and the city's decision to strike five-ducat gold pieces in his name was as much a diplomatic gesture toward Stockholm as it was a practical monetary act. The "2nd portrait" designation distinguishes this from the earlier Reval ducats bearing a younger likeness, reflecting updated dies sourced or influenced by the Stockholm mint.

Surviving examples are extremely rare. Reval's gold coinage of this period was struck in tiny quantities, almost certainly for presentation rather than commerce.