Pfennig - Ulrich III Völkermarkt

Ulrich III ruled Carinthia during a period of acute dynastic instability — the duchy had passed through multiple hands across the preceding decades, and his tenure was marked by ongoing conflict with Ottokar II of Bohemia, who would eventually absorb Carinthia entirely after the Babenberg line collapsed. The Völkermarkt mint, situated on the Drava river in the duchy's south, was one of several regional striking facilities Ulrich operated to assert territorial control through coinage.

CNA Cb27 is a bracteate-influenced pfennig of the southern Alpine type. Thin fabric and wide flans were characteristic of this regional tradition rather than any production defect.