500th anniversary of the minting of the first thaler coins in Kremnica

5000 Sk commemorative gold coin

Discoveries of deposits of silver in Central Europe and new skills developed in mining and metallurgy at the end of the fifteenth century increased the output of silver and led to efforts to introduce larger silver coins into the circulation, which laid the foundation for the establishment of a Thaler currency. The first predecessor to the Thaler – the silver Guldiner (40 mm, 31.7 g) originated in 1486 in the Tyrol as the equivalent of the gold Gulden. In 1499, Guldiners began to be minted in Kremnica as well.

The Kremnica Guldiners rank among the finest coins of the period and have a special position in the history of minting as well as their gold replicas, which belong to the first larger gold coins struck in the world. Preserved pieces are in the weight range from 16.7 to 68.2 g, and represent the equivalent about 5 to 20 ducats. Silver and gold Guldiners were minted from 1499 to 1506 and were presumably intended more for representative purposes and as gifts than for circulation. They represent the long tradition of mining and minting in the area of Slovakia and reflect its significant economic position at that time.