Maria Theresa Restrike Austrian Taler: Austria's Minting Legacy

The Maria Theresa Thaler is one of the most famous and well-known coins in the world. Named after Empress Maria Theresa (1717-1780), who was ruler of Austria, Hungary, and Bohemia between 1740 and 1780, the coin has been minted continuously since 1741. After Maria Theresa's death in 1780, the Austrian Mint was permitted to continue striking the coin with the 1780 dies to meet demand from the Middle East, where it was the only silver coin trusted and accepted by the Arabs. Today, the coin is still minted by the Austrian Mint and is sold as a silver bullion coin.

Maria Theresa Thaler's use in trade

The Maria Theresa Thaler was the circulating currency of the Holy Roman Empire and its dominions, and it was one of the most important trade coins in Europe and the world. It was very popular in the Near East as women's ornaments and jewellery, and the fine workmanship of the coin, as well as the buxom portrait of the Empress, is said to have carried a strong appeal to the Levantines, who liked their women plump.

The coin was also used in trade in the Arab world, especially in Saudi Arabia, Yemen, Syria, Muscat, and Oman, and in Africa, especially in Ethiopia, Somalia, Kenya, Tanzania, and Mozambique. It was so popular in the Middle East that the Arab traders in Aden would not accept any other form of currency. It was also used in trade in India and Indonesia, and remains in circulation today in conflict areas in the Middle East and Africa.

The Maria Theresa Thaler was originally struck in Austria between 1740 and 1780, the year of Maria Theresa's death. However, the coin continued to be minted after her death, with the date frozen at 1780. It is estimated that until 2000, 389 million pieces were minted. As of 2024, it is still sold by the Vienna Mint.

The word "dollar" is derived from the German word "Thaler/Taler". The Maria Theresa Thaler, along with the Spanish 8 Reales coin, was the basis of the silver dollar, which was adopted by the then-fledgling United States under the Mint Act of 1792.

The coin's design and features

The Maria Theresa Thaler is a silver bullion coin that has been used in world trade since it was first minted in 1741. The coin is named after Maria Theresa, who ruled Austria, Hungary, Croatia and Bohemia from 1740 to 1780, and is depicted on the coin.

The obverse of the coin features a right-facing profile bust of Maria Theresa, wearing a veil, tiara, and pearl brooch. The inscription reads: "M. THERESIA D. G. R. IMP. HU. BO. REG." This is an abbreviation of "Maria Teresia Dei Gratia Romanorum Imperatrix, Hungariae Bohemiaeque Regina, Schöbel Tobias. Faby Josef", which translates to "Maria Theresia, by the grace of God, empress of the Romans, queen of Hungary and Bohemia".

The reverse of the coin features the Imperial double-headed eagle with the arms of Austria at the centre. The inscription reads: "ARCHID. AVST. DUX BURG. CO. TYR. 1780 X". This is an abbreviation of "Archidux Austriae, Dux Burgundiae, Comes Tyrolis. 1780 ☓", which translates to "Archduchess of Austria, Duchess of Burgundy, Countess of Tyrol. 1780". The "☓" is a saltire or Burgundian cross, added in 1750 to indicate the new debased standard of the thaler. Around the rim of the coin is the motto of Maria Theresa's reign: "Justitia et Clementia", meaning "Justice and Clemency".

The Maria Theresa Thaler follows the Conventionsthaler standard of 1750, with a gross weight of 1/10 of a Vienna mark of silver, 5/6 fine. This equates to a fine silver content of 0.7516-0.752 troy ounces (23.386-23.39 grams) of silver. The coin has a diameter of 39.5-41mm and a thickness of 2.5mm.

The design of the coin has remained largely unchanged since 1780, although there are some subtle differences between earlier strikes and more recent restrikes. For example, the brooch in the veil on the obverse of earlier strikes does not feature pearls, while the letter 'U' on the reverse is "AUST.DUX" instead of "AVST.DUX".

How to identify original strikes

The Maria Theresa Thaler is one of the world's most famous and well-known coins. It was originally struck in Austria from 1740 to 1780, and was the currency of the Austrian Empire.

The coin's legacy and impact

The Maria Theresa Thaler, or MTT, has had a long and fascinating history since it was first minted in 1741. It is named after Maria Theresa, who ruled Austria, Hungary, Croatia and Bohemia from 1740 to 1780, and her likeness is depicted on the coin. The MTT is a silver bullion coin and was the circulating currency of the Holy Roman Empire and its dominions. It was one of the most important trade coins in Europe and the world, and its impact can still be felt today.

The MTT was originally struck in Austria between 1740 and 1780, and its production continued after Maria Theresa's death in 1780, with the date frozen at 1780. This continued minting was permitted by her son, Joseph II, to meet the demand for the coin in the Middle East. The MTT was the only silver coin that Arab traders trusted and would accept, and it became the unofficial currency in some areas of Africa and Asia. It is still used as a "trade silver dollar" in some Arabian bazaars today.

The MTT was also used as currency in large parts of Africa and the Middle East until after World War II, and it was especially popular in the Red Sea region, where merchants would not accept any other type of currency. The coin's popularity and widespread use led to several nations beginning to strike MTTs, including mints in Birmingham, Bombay, Brussels, London, Paris, Rome, and Utrecht, in addition to the Habsburg mints.

The MTT's design has also had an impact on other currencies. The Italian government produced a similarly-designed coin in an attempt to replace the MTT, but it never gained acceptance. The MTT was also the predecessor to currencies such as the Saudi riyal and the Ethiopian birr.

The legacy of the MTT is also seen in the word "dollar", which is derived from the German word "Thaler/Taler". The MTT, along with the Spanish 8 Reales coin, was the basis of the silver dollar adopted by the United States under the Mint Act of 1792.

In the United Kingdom, the MTT bearing the date of 1780 is a "protected coin" under the Forgery and Counterfeiting Act 1981. This highlights the continued importance and impact of the MTT, even today.

Where the coin was minted

The Maria Theresa Thaler (MTT) is a silver bullion coin that has been used in world trade continuously since it was first minted in 1741. It is named after Maria Theresa, who ruled Austria, Hungary, Croatia, and Bohemia from 1740 to 1780, and is depicted on the coin. The MTT was originally struck in Austria between 1740 and 1780 and was the circulating currency of the Holy Roman Empire and its dominions. It was one of the most important trade coins in Europe and the world.

The MTT was minted at the following locations:

• Birmingham, England (1850-date)
• Hall, modern-day Hall in Tyrol, Austria
• Kolkata / Calcutta / Murshidabad, India (1757-date)
• Kremnica, Slovakia (1328-date)
• Monnaie de Paris, Paris (and Pessac starting 1973), France (864-date)
• Mumbai / Bombay, India (1829-date)
• Münze Österreich, Vienna, Austria (1194-date)
• Prague, Czech Republic
• Rome, Italy (476-date)
• Royal Dutch Mint (Koninklijke Nederlandse Munt), Utrecht, Netherlands (1010-date)
• Royal Mint (Tower Hill), London, United Kingdom (1810-1975)
• Royal Mint of Belgium, Brussels, Belgium (983-2017)
• Venice, Italy (771-1870)

In addition to these mints, the MTT has also been counterstamped in various countries, including Yemen, Saudi Arabia, Somaliland, Turkey, Mozambique, and Indonesia.

The MTT was produced in at least 16 different mints around the world and continues to be sold by the Vienna Mint today.

Frequently asked questions