The Thaler was the currency of the Free Hanseatic City of Bremen until 1873. It was divided into 72 Grote, each of 5 Schwaren.
While originally defined as a silver unit worth 2⁄27 Cologne mark of silver, in practice Bremen did not mint its own coins but instead accepted French and German gold pistole coins as 5 Thalers. Bremen was thus on a de facto gold standard in the 18th & 19th centuries with 1 Thaler equal to approximately 1.2 grams of fine gold.
In 1863 Bremen valued the German gold krone, containing 10 grams of fine gold, at 8.4 Thalers, hence an equivalence of 1 4⁄21 grams of fine gold to the Thaler. In 1873, the Thaler was replaced by the mark (ℳ). As the mark is also fixed to gold with 1 gram equal to 2.79ℳ, an exact conversion was carried out with 1 Thaler = 3 9⁄28 mark (ℳ).
|This article about a unit of currency is a stub. You can help Wikipedia by expanding it.|
|This German history article is a stub. You can help Wikipedia by expanding it.|