Flag of the Electorate of Saxony (1356-1806), which was one of the major states of the Holy Roman Empire.
History
The history of Saxony can be divided in two eras. First the Saxons were a Germanic tribe that evolved during the late antiquity and formed a duchy that lasted until its dissolution into numerous smaller states by Emperor Barbarossa in 1180. The second era starts in 1356 when the Duchy of Saxe-Wittenberg was promoted to the Electorate of Saxony and became one of the more powerful states in the Holy Roman Empire.
Duchy of Saxony (approx. 550 - 1180)
The Saxons were a Germanic tribe in Northern Germany living in an area that is now known as Lower Saxony (German: Niedersachsen). In the 4th century they were notorious for raiding ports in Roman Britain and France. When the Romans left Britannia in 402, the Saxons invaded and established a number of Anglo-Saxon kingdoms in what is now known as England.
Centuries later the Franks, another Germanic tribe under the leadership of Charlemagne, conquered Saxony during the Saxon Wars that lasted from 772 until 804. From then on Saxony was part of the Frankish Empire and after its partition it became part of East Francia and subsequently the Holy Roman Empire in 966. The Saxons formed one of the four nations of Germany, next to the Franks, Swabians and the Bavarians.
In the 10th century the Holy Roman Empire expanded eastwards into what now forms the eastern part of Germany and formed marches in the bordering territories. Saxony was awarded the territories that are now known as Thuringia and Saxony, and now covered an area from the eastern Netherlands up to western Poland.
The Duchy of Saxony around 1000 AD. After the old duchy was dissolved in 1180, its name was resurrected in the eastern part of the former duchy for the centuries to come. The western part never formed a Saxon state anymore but that region remained to be referred to as Lower Saxony. Lower Saxony has been a state of the Federal Republic of Germany since 1949.
Tbe Dukes of Saxony were from the House of Welf and competed for power with other families in the Holy Roman Empire. Their biggest adversary were the Hohenstaufens, who ruled territories from Germany to southern Italy. The ongoing rivalry led to Welf Duke Henry the Lion being defeated and the Duchy of Saxony being partitioned in many smaller territories in 1180.
Electorate of Saxony (1356-1806)
Two parts of Saxony were left: Lauenburg and Wittenberg. These two parts were divided among two brothers in 1296. In 1356 the Duchy of Saxe-Wittenberg was promoted to an electorate, which meant that its monarch could choose and be chosen the emperor of the Holy Roman Empire. When the last duke died in 1422, it was awarded to the House of Wettin and merged with the Margraviate of Meissen and territories in Thuringia. Saxony was now one of the larger states in the Holy Roman Empire.
In 1485 Saxony was partitioned between the brothers Ernest and Albert. As Ernest was the oldest he inherited the rights of the electorate. The Protestant Reformation put the rebellious Ernestine duchy against the Albertine duchy which was allied to the emperor in the Schmalkaldic War (1546-7). The Albertines won and were awarded the electorate and large parts of Ernestine territory.
In those days it was custom among aristocracy to partition possessions among all sons, but to prevent further fragmentation within the empire, electors were forced to award everything to their first-born son. This caused Saxony-Ernestine to be further partititioned in 1572 and were rearranged many times during the following centuries, while Saxony-Albertine remained one territory and was generally referred to as Saxony while the duchies of Saxony-Ernestine were known as the Ernestine Duchies or the Thuringian States. Although these duchies were tiny they were highly convenient for the European royal families to find suitable marriage candidates in order to limit the inbreeding that was prevalent in those circles at that time.
Saxony-Albertine (light pink) and the Ernestine duchies (dark pink) within the Holy Roman Empire in 1648.
During the Thirty Years' War (1618-1648) Saxony was at first part of the anti-Habsburg forces but switched sides after the Peace of Prague in 1635. Lusatia was added to Saxon territory as a result of this war.
Saxony's proximity to Brandenburg-Prussia led to its defeat in the Seven Years' War (1756-1763) when it sided with Austria. Decades later when Napoleon invaded Germany Saxony was initially allied to Prussia but quickly switched to Napoleon's side and entered the Confederation of the Rhine. When the Holy Roman Empire was dissolved in 1806, Saxony became a kingdom.
Saxony and the Ernestine Duchies within the German Confederation (1815-1866). Prussia annexed a large part of Saxony in 1815 to retaliate Saxony's alliance with France during the Napoleonic Wars.
Kingdom of Saxony (1806-1918)
Saxony was one of the few German states that fought along with France, and when the tide turned against Napoleon in 1813, Saxony was punished by ceding almost half its territory to Prussia. The kingdom did enter the German Confederation in 1815. Due to the troubled relationship with Prussia, Saxony remained more aligned with Austria, and chose its side in the Austro-Prussian War of 1866, during which the Prussians were victorious. As a result Saxony entered the North German Confederation and joined the German Empire in 1871. It remained a kingdom within Germany until the abdication of Kaiser Wilhelm after World War I in 1918. Saxony's last king was Frederick Augustus III.
Currency
Saxon coin history is quite complicated with many reforms affecting the standards used. Despite the fragmentation of Saxony from 1485 the monetary systems used by both Albertine and Ernestine Saxony always remained the same.
Saxon Pfennig (until 1170)
German medieval coinage was a remnant of the monetary standards introduced by the Frankish Empire in the 8th century, whereby 240 silver Pennies (German: Pfennig, Latin: Denarius) made up a Pound, a weight mass that could vary per region, but the original mass was set at 367 grams, so around 1.5 gram per Penny. Over time the coins would diverge from this standard, and regions had their own types with fluctuating values. Next to the Pfennig there was the Obole which was worth half a Pfennig.
Saxon Hochrandpfennig from around 1000 AD.
Saxon Pfennige from around the 10th century were known for their high rim. Especially the Otto-Adelheid type is well-known, named after King and Emperor Otto III and his grandmother Adelaide, who was the wife of Emperor Otto the Great, founder of the Holy Roman Empire. Next to the other Otto-Adelheid Pfennig there were many other types, but all known for their high rim.
Bracteat (1170-1338)
From the 11th century the Pfennige started to become so thin they were only struck on one side to prevent the image from being deformed by the reverse. These coins were known as Dünnpfennig (thin penny). These coins were the precursor of the Bracteats, a new type of Pfennig introduced in the 12th century. Next to the Bracteat there was the Scherf which was half a Bracteat and the Viertelchen of a quarter Bracteat. Saxon coinage was not unified, numerous local leaders, either worldly or churchly, minted coins with their own effigies. The silver standard dropped, with 240 Pfennige now weighing one Prague Mark of 253 grams.
Brakteat from Saxe-Wittenberg from the late 12th century. The die is so thin that the inverse of this image is visible on the reverse.
Meissner Groschen (1338-1490)
In 1338 the Groschen of 8 Pfennige (or 12 Heller) was introduced in the Margraviate of Meissen. It was based on the Prager Groschen that was first minted a few decades before that, and resembled the Venetian Grosso and the French Tournose. The coins were minted in Freiberg and initially contained 3.7 grams of 0.900 fine silver. In 1412 the Groschen was revalued to 12 Pfennig, with a Pfennig now worth 2 Heller.
Meissner Groschen from around 1350. The legend reads 'GROSSVS MARCH MISNENSIS', which means 'Groschen from the Margravate of Meissen. The Wettin family that ruled Meissen gained Saxe-Wittenberg in 1423.
Many other Groschen types were introduced in Saxony in those days, and many reforms took place to stabilise its value. The Rhenish Gulden from southen Germany became a standard in Saxony as well at a value of 20 Groschen.
Meissner Gulden (1490-1571)
In 1490 the Gulden was fully incorporated in the Saxon monetary systen. Its value was slightly increased to 21 Groschen, now known as Zinsgroschen. A Zinsgroschen was equal to 2 Schwertgroschen, and there were 12 Pfennige in a Zinsgroschen. A new larger silver coin was the Schreckenberger valued at 3 Zinsgroschen. The Meissner Gulden would remain a unit of account at a value of 21 Groschen even long after it was replaced by the Reichsthaler.
Early 16th century Guldengroschen worth 21 Groschen. This coin was the precursor of the Thaler and was revalued to 24 Groschen in 1542. Despite this revaluation the Meißner Gulden remained a unit of account at 21 Groschen for many decades.
Reichsthaler (1571-1667)
The increasing price of silver and the growing popularity of Thaler throughout Germany led to a monetary agreement that set the Reichsthaler at 1/9 of a Cologne Mark (233g) of pure silver. Saxony joined this standard in 1571 and followed the subdivision of the Reichsthaler in 24 Groschen. Consequently a Reichsthaler was worth 72 Kreuzer, 288 Pfennige or 576 Heller.
Kipper and Wipper - Inflationary coinage (1620-1623)
During the Thirty Years' War (1618-1648) Germany went through a period of hyperinflation, with many mints striking lower quality small money as coins of higher purity were hoarded. Although the Reichsthaler was never abolished, all kinds of new coins and denominations were minted. Examples are Kipperthalers of a varying number of Groschens. After a complete overhaul the old Reichsthaler system was reinstated in 1623.
Courant Thaler (1667-1763)
A new wave of inflationary money affected Germany after the Peace of Münster (1648). In 1667 it was agreed that the Thaler as unit of account would be devalued to 1/10½ of a Mark. In Saxony this became known as the Kuranttaler (Courant Thaler) worth 24 Groschen but no Thaler coins were struck. Instead coins of ⅔ Thaler became the most important large silver coin and was named Gulden. Despite its names the Meissner Gulden remained at 21 Groschen and this new Saxon Gulden at 16 Groschen. The old Reichsthaler of 1/9 of a Mark, now known as the Speciesreichsthaler, was still minted, but now worth 28 Groschen.
In 1690 several German states agreed to devalue the Thaler to 1/12 of a Cologne Mark. This made the Speciesreichsthaler worth 32 Groschen, with the smaller denominations unchanged with respect to the Groschen.
The Wechselthaler (1670)
The Wechselthaler (Exchange Thaler) was a short-lived attempt to facilitate trade with Hamburg and the Dutch Republic, which Thalers or Daalders were worth 26 Saxon Groschen. The Wechselthaler was based on the Burgundian standard of .861 silver and 1/9⅔ of a Mark. It was a short-lived initiative.
Saxon-Polish Bancothaler (1702)
As Saxony and Poland formed a personal union, Elector and King Augustus introduced the Bancothaler to circulate in both territories. It was worth 6 Polish Złoty and set at 32 Saxon Groschen, even though its silver content was 1/9⅔ of a Mark. This imperfection and a scandal around debased 6 Pfennig coins caused the Bancothaler to disappear quickly.
Conventionsthaler (1763-1838)
Already from 1754 several German states had agreed to a new standard named the Conventionsthaler valued at 1/10 of a Mark. Saxony only joined this monetary standard in 1763, after the Seven Years' War. In Saxony the Conventionthaler was set at 32 Groschen or 1⅓ Thaler unit of account. This meant that ⅔ Thaler coins were still worth 16 Groschen or ½ Conventionsthaler.
Prussian standard Thaler (1838-1874)
In 1838 Saxony joined Prussia in a monetary union that set the Thaler at 1/14 of a Mark. In Saxony this reform was accompanied by an overhaul of the smaller denominations. The new Thaler was divided in 30 Neugroschen each worth 10 Neupfennige. The South German Gulden was worth 4/7 of this Thaler, and Saxony produced 2 Thaler coins that were also denominated as 3½ Gulden.
Mark (1874-1918)
In 1874 Germany unified and decimalised its currency by introducing the Mark at a value of ⅓ Thaler. The Mark's subdivision in 100 Pfennige were on par with the Saxon Neugroschen and Neupfennig coinage. Saxony continued to mint its own coins of 2 Mark and above until 1918 when Germany became a republic and the Goldmark disappeared.
Catalogue
Duchy of Saxony (966-1180):
https://en.numista.com/catalogue/saxony_duchy-1.html
Duchy of Saxe-Wittenberg (1296-1356)
https://en.numista.com/catalogue/saxe_wittenberg_duchy-1.html
Electorate of Saxony (1356-1806):
https://en.numista.com/catalogue/saxony_electorate-1.html
Kingdom of Saxony (1806-1918):
https://en.numista.com/catalogue/saxony_kingdom-1.html
Margravate of Meissen (965-1423):
https://en.numista.com/catalogue/meissen_margravate-1.html
Ernestine duchies
Saxe-Altenburg (1603-1672; 1826-1918)
https://en.numista.com/catalogue/saxe_altenburg_duchy-1.html
Saxe-Coburg (1596-1633; 1681-1699)
https://en.numista.com/catalogue/saxe_coburg_duchy-1.html
Saxe-Coburg-Eisenach (1572-1596)
https://en.numista.com/catalogue/saxe_coburg_eisenach_duchy-1.html
(All coins listed here should be moved to Saxe-Coburg)
Saxe-Coburg-Saalfeld (1735-1826) https://en.numista.com/catalogue/saxe_coburg_saafeld_duchy-1.html
Saxe-Eisenberg (1680-1707) https://en.numista.com/catalogue/saxe_eisenberg_duchy-1.html
Saxe-Coburg-Gotha (1826-1918) https://en.numista.com/catalogue/saxe_coburg_gotha_duchy-1.html
Saxe-Eisenach (1596-1638; 1640-1644; 1672-1806)
https://en.numista.com/catalogue/saxe_eisenach_duchy-1.html
Saxe-Gotha-Altenburg (1681-1826)
https://en.numista.com/catalogue/saxe_gotha_altenburg_duchy-1.html
Saxe-Hildburghausen (1680-1826)
https://en.numista.com/catalogue/saxe_hildburghausen_duchy-1.html
Saxe-Jena (1672-1690) https://en.numista.com/catalogue/saxe_jena_duchy-1.html
Saxe-Meiningen (1681-1918)
https://en.numista.com/catalogue/saxe_meiningen_duchy-1.html
Saxe-Römhild (1680-1710)
https://en.numista.com/catalogue/saxe_romhild_duchy-1.html
Saxe-Saalfeld (1680-1735)
https://en.numista.com/catalogue/saxe_saafeld_duchy-1.html
Saxe-Weimar (1572-1806)
https://en.numista.com/catalogue/saxe_weimar_duchy-1.html
Saxe-Weimar-Eisenach (1806-1918)
https://en.numista.com/catalogue/saxe_weimar_eisenach_grand_duchy-1.html
