Frederick I had himself crowned King in Prussia in 1701 — deliberately in Königsberg rather than Berlin, and self-coronated to avoid acknowledging any superior authority granting him the title. The ⅔ Thaler denomination was a workhorse of northern German trade during this period, its value pegged to the Reichsthaler in a ratio that made it practical for commerce with Hamburg and the Dutch markets. Frederick's treasury was perpetually strained by the costs of maintaining the Prussian military establishment and the extravagant court he modeled on Versailles.
The .750 fineness was below the standard of the best Saxon issues circulating alongside it, a known concession to fiscal pressure that did not go unnoticed by contemporary merchants.
Frederick I had himself crowned King in Prussia in 1701 — deliberately in Königsberg rather than Berlin, and self-coronated to avoid acknowledging any superior authority granting him the title. The ⅔ Thaler denomination was a workhorse of northern German trade during this period, its value pegged to the Reichsthaler in a ratio that made it practical for commerce with Hamburg and the Dutch markets. Frederick's treasury was perpetually strained by the costs of maintaining the Prussian military establishment and the extravagant court he modeled on Versailles.
The .750 fineness was below the standard of the best Saxon issues circulating alongside it, a known concession to fiscal pressure that did not go unnoticed by contemporary merchants.