1623, Austria, Emperor Ferdinand II. Silver 48 Kreuzer "Kipper" Coin. PCGS AU+

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1623, Austria, Emperor Ferdinand II. Silver 48 Kreuzer "Kipper" Coin. PCGS AU+
Mint Year: 1623
Reference: KM-443.
Rare!
Denomination: 48 Kreuzer (
Kipper issue!
)
Mint Place: Klagenfurt (Carithia province, Austria)
Condition:
Certified and graded by PCGS as AU (Details: Cleaned!)
Diameter: 37mm
Weight: 9.98gm
Material: Silver
Obverse:
Laureated and armoured bust of Ferdinand II right. Ornate inner circle around.
Legend: FERDINANDVS . II . D . G . RO . I . S . A . G . H . E . BO . REX °
Reverse:
Imperial crown (splitting date in legend) above nimbate double-headed eagle with oval arms of Klagenfurt (Carinthia) at chest. Kreuzer value numeral (48) inside round border splitting legend below.
Legend: ARCHI . AVS . E . CA (48) RIN . DVX . BVR . EC . 16 - 23 .
Kipper und Wipper
(German: Kipper- und Wipperzeit, literally "Tipper and See-saw time") was a financial crisis during the start of the Thirty Years' War (1618–1648). Starting around 1621, city-states in the Holy Roman Empire began to heavily debase currency in order to raise revenue for the Thirty Years' War, as effective taxation did not exist. More and more mints were established until the debased metal coins were so worthless that children allegedly played with them in the street, which became the basis for Leo Tolstoy's short story "Ivan the Fool".
The name refers to the use of tipping scales to identify not-yet-debased coins, which were then taken out of circulation, melted, mixed with baser metals such as lead, copper or tin, and re-issued. Often the states did not debase their own currency, but instead manufactured low-value imitations of coins from other territories and then spent them in yet other territories as far as possible from their own lands, hoping that the resulting damage would then occur to the economy of those other regions rather than their own. This worked for a while; but after a time, the general public caught on to the manipulation, resulting in pamphlets denouncing the practice, local riots and the refusal of soldiers and mercenaries to fight unless paid in real, non-debased money. Also the states began to get back their own debased coins in taxes and customs fees. Due to these problems the practice largely stopped around 1623; however, the damage done was so large that it created financial disarray in almost all the city-states in the area. The same thing re-occurred on a smaller scale near the end of the century and again during the middle of the 18th century; however, the debasement spread from Germany to Austria, Hungary, Bohemia, and Poland.
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Ferdinand II, Holy Roman Emperor
(July 9, 1578 - February 15, 1637), of the House of Habsburg, reigned as Ferdinand II, Archduke of Inner Austria (normally called
Ferdinand II of Germany
when referred to as Archduke) and Holy Roman Emperor from 1619-1637. He was also the Archduke of Styria (Inner Austria) from 1590-1637, King of Bohemia from 1617-1619 and again from 1620-1637, as well as King of Hungary and Croatia from 1618-1625. The expansion of the ongoing acts of rebellion against his Imperial Governors in Bohemia on May 23rd, 1618 directly triggered the Thirty Years' War, and can be blamed on his religious intolerance toward Protestants.
A devout and very pious Catholic, his recognition as King of Bohemia and suppression of Protestantism precipitated the early events of the Thirty Years' War, and he remained one of the staunchest backers of the Anti-Protestant Counter Reformation efforts as one of the heads of the German Catholic League, prolonging the Thirty Years' Wars by insisting the Edict of Restitution be enforced. The duration of his reign was occupied by confessional and military concerns, and some historians blame him for the large civilian loss of life in the Sack of Magdeburg in 1631, as he'd instructed Count Tilly to enforce the edict upon Saxony-his orders causing Tilly to move the Catholic armies east, ultimately to Leipzig, where they suffered their first substantial defeat at First Breitenfeld.
(July 9, 1578 - February 15, 1637), of the House of Habsburg, reigned as Ferdinand II, Archduke of Inner Austria (normally called
Ferdinand II of Germany
when referred to as Archduke) and Holy Roman Emperor from 1619-1637. He was also the Archduke of Styria (Inner Austria) from 1590-1637, King of Bohemia from 1617-1619 and again from 1620-1637, as well as King of Hungary and Croatia from 1618-1625. The expansion of the ongoing acts of rebellion against his Imperial Governors in Bohemia on May 23rd, 1618 directly triggered the Thirty Years' War, and can be blamed on his religious intolerance toward Protestants.
A devout and very pious Catholic, his recognition as King of Bohemia and suppression of Protestantism precipitated the early events of the Thirty Years' War, and he remained one of the staunchest backers of the Anti-Protestant Counter Reformation efforts as one of the heads of the German Catholic League, prolonging the Thirty Years' Wars by insisting the Edict of Restitution be enforced. The duration of his reign was occupied by confessional and military concerns, and some historians blame him for the large civilian loss of life in the Sack of Magdeburg in 1631, as he'd instructed Count Tilly to enforce the edict upon Saxony-his orders causing Tilly to move the Catholic armies east, ultimately to Leipzig, where they suffered their first substantial defeat at First Breitenfeld.
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