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TheSouth German Gulden was the currency of the states of SouthernGermany between 1754 and 1873. These states includedBavaria,Baden,Württemberg,Frankfurt andHohenzollern. It was divided into 60kreuzer, with each kreuzer worth 4pfennig or 8heller.
This specificGulden was based on theGulden orflorin used in theHoly Roman Empire during theLate Middle Ages andEarly Modern period. TheGulden first emerged as a common currency of theHoly Roman Empire after the 1524Reichsmünzordnung in the form of theGuldengroschen.[1][2] In the succeeding centuries theGulden was then defined as a fraction of theReichsthaler specie or silver coin.
As of 1690 theGulden used in Southern Germany and theAustrian Empire adhered to the Leipzig standard, with theGulden worth1⁄18 aCologne Mark of fine silver or1⁄2 theReichsthaler specie coin, or 12.992 g perGulden. Below is a history (in terms of grams of silver) of the standards of the South German Gulden from 1690 until the gold standard was introduced in 1873.[1][3] A comparison with the higher-valuedAustro-Hungarian gulden is also included. The course of value of theGulden before 1618 is found underReichsthaler.
| Standard | South German Gulden | Austrian florin |
|---|---|---|
| 1690:Reichsthaler = 2G | 12.992 | 12.992 |
| 1741: goldCarolin = 11G | 0.68 g gold | 0.83 g gold |
| 1753:Conventionsthaler = 2.4G | 9.744 | 11.693 |
| 1820s:Kronenthaler = 2.7G | 9.524 | 11.693 |
| 1837:Prussian thaler = 1.75G | 9.545 | 11.693 |
| 1857:Vereinsthaler = 1.75G | 9.524 | 11.111 |
TheGulden departed from this standard in the 1730s when the gold-silver price ratio dropped from 15 to 14.5, prompting many states to reissue theirGulden in cheaper gold. The South GermanGulden then departed from the Austro-Hungarian gulden after it valued theCarolin d'or of 7.51 g fine gold at 11 Gulden in Southern Germany versus 9 Gulden in Austria. Each South German gulden was therefore worth7.51 ÷ 11 = 0.6827 g fine gold or0.6827 × 14.5 = 9.9 g fine silver.
The South German states therefore could not comply with the Austrian currency convention of 1754 which set the Austro-Hungarian gulden at1⁄2Conventionsthaler, or 11.6928 g fine silver. They instead adopted a lower-valuedSouth German Gulden worth1⁄24Cologne Mark of fine silver, or5⁄12Conventionsthaler, or 9.744 g silver per gulden. Currency was issued only up to 3 and 6kreutzer Landmünze (or local coins, of1⁄20 and1⁄10Gulden), with larger Austrian coins accepted at a 20% higher value in Southern Germany.
ThisConventionsthaler, containing 23.3856 g fine silver and valued at 2.4Gulden (or 9.744 g perGulden), was superseded between 1807 and 1837 by the minting ofKronenthaler coins containing 25.71 g fine silver but valued at 2.7 gulden (or only 9.524 g perGulden), in a competitive currency depreciation between the various South German states. The French écu of 26.67 g fine silver was also accepted at 2.8 gulden.[3]
The situation above was only resolved by theMunich Coin Treaty of 1837 which redefined the Gulden at2⁄49Cologne mark or 9.545 g of silver. This allowed for an exchange rate of1+3⁄4 Gulden to 1Prussian Thaler. In addition to the 3 and 6 kreutzer and smaller pieces, new coins were introduced in denominations of1⁄2, 1 and 2 Gulden, as well as the Vereinsmünze (Union Coin) worth3+1⁄2 South German gulden or 2Prussian thalers.
In 1857 theVienna Monetary Treaty introduced a second Vereinsmünze in the form of theVereinsthaler, with fractionally less silver than the Prussian Thaler, but still valued at1+3⁄4 Gulden. While the3+1⁄2 South German gulden coin was redenominated as 2 Vereinsthaler, no changes were made to the other denominations.
Following theUnification of Germany in 1871, the newly formedGerman Empire adopted theGoldmark in 1873 as it began to standardise to a single currency within its borders, and chose to decimalise. One Mark, (written as1ℳ ), was subdivided into one-hundred Pfennig (written as100₰ ), with the mark having an exchange equal to 35 kreutzer, or7⁄12 gulden, as the South German Gulden began to be withdrawn over the next three years.
From 1 January 1876 the Gulden and the Kreuzer, along with all other forms of currency which existed previously in what was now the German Empire, were abolished.
(The decimal Goldmark became the only legal tender, until 4 August 1914 when the link between the Mark and gold was abandoned with the outbreak of World War I, and replaced by thePapiermark).
| Preceded by | SouthGerman currency 1754–1873 | Succeeded by |
