1/3 Reichsthaler - Frederick II

Frederick II's Seven Years' War placed extraordinary strain on Prussian finances. To fund campaigns on multiple fronts simultaneously, Frederick debased the silver coinage aggressively — the .666 fineness of this issue reflects deliberate policy rather than metallurgical accident. The scheme was partly administered through leased mints, with Jewish financiers Veitel Heine Ephraim and Daniel Itzig contracted to manage production, supplying debased coin while full-weight silver was diverted to military expenditure.

These coins were so reviled by contemporaries that "Ephraimiten" became a common pejorative for debased currency across the German states. Frederick himself reportedly ordered the good coin back once the war ended.