Pfennig - Frederick III

Frederick III of the Duchy of Styria — sometimes called Frederick the Fair, though his control over Styria was contested through much of this period — ruled during a phase of Habsburgian consolidation in which small-denomination silver coinage served largely local exchange functions. The Styrian pfennig of this era belongs to a bracteate-adjacent tradition of thin, fragile silver strikes produced in modest quantities at regional mints with limited quality control, which explains the high frequency of off-center and weakly defined survivors.