Pfennig - Ulrich I

Ulrich I of Carinthia ruled the duchy during a period of intense rivalry between the Babenberg and Spanheim dynasties for influence over the southeastern Alpine territories. His coinage falls within the broader Pfennig tradition of the German-speaking lands, where regional lords exercised minting rights with considerable independence from imperial oversight — a privilege that Carinthian dukes had held intermittently since the late tenth century. The CNA Cb4 attribution places this piece within a tightly sequenced die study, and attribution disputes for Carinthian bracteate-adjacent issues from this decade remain active among specialists.