Reichsthaler
The Reichsthaler (German: [ˈʁaɪçsˌtaːlɐ]) was a standard Thaler of the Holy Roman Empire, established in 1566 by the Leipzig convention. It was also the name of a unit of account in northern Germany and of a silver coin issued by Prussia.
The Leipzig convention set the Reichsthaler as a coin containing 1⁄9 of a Cologne mark of silver. The various German states within the Empire issued Reichsthaler together with smaller coins according to whatever system of subdivisions they chose. In 1754, the Conventionsthaler (containing 1⁄10 of a mark of silver) replaced the Reichsthaler as the standard.
At the same time as the Reichsthaler was being issued as a coin, it was also being used in much of Northern Germany as a unit of account, with the unit of account being worth 3⁄4 of the value of a Reichsthaler coin. As a unit of account, the Reichsthaler was therefore equivalent to 1⁄12 of a Cologne mark of silver. After 1754, this unit (now 3⁄4 of a Convenstionsthaler, 3⁄40 of a mark of silver) continued to be used, although it was more commonly referred to as simply a Thaler.
In most of the states using the Reichsthaler as a unit of account, it was subdivided into 288 Pfennig, with intermediate denominations such as the Groschen or Gutegroschen, worth 12 Pfennig ( 1⁄24 of a Reichsthaler), and the Mariengroschen, worth 8 Pfennig ( 1⁄36 of a Reichsthaler).
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