GERMANY, SIGMARINGEN-HELFENSTEIN. Gottfried III. c. 1250-1260

AR Bracteate, c. 1250-1260, 0.42g (20mm,).Deer springing r. / incuse of obversePedigree: Ex Fritz Rudolf Künker 322, Osnabrück 2019, lot 136References: Berger 2514. Klein/Ulmer (CC) 252.1Grade: Beautiful iridescent toning. Nice details and good metal with no cracks. Mint State. (wc1202)#block-yui_3_17_2_1_1679237990228_147490 {

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Bracteates are interesting coins in that they are paper thin silver, hammered with crude imagery. They were also called “hollowed pennies” and used as a regional currency in German speaking areas. Bracteates were regularly called back (about once or twice a year) in order to renew the coins. This meant that a tax of sorts in the form of keeping one bracteate happened. If one brought back four bracteate then they would receive three news ones in return. This system helped to stimulate the economy but also caused a huge disruption to business dealings. The end result was the creation of an “eternal penny” in around 1413.