No More Maria Theresa Thalers From Royal Mint

Press, Volume CI, Issue 29908, 23 August 1962, Page 20

No More Maria Theresa Thalers From Royal Mint

(Special Correspondent N.Z.P.A.)

LONDON. August 22. “A somewhat curious chapter of currency history” has ended with the discontinuation by the Royal Mint, at the request of the Austrian Government, of the striking of the Maria Theresa Thaler, says “The Times.” “The Maria Theresa Thaler is a magnificent silver coin of noble proportions measuring about one and a half inches in diameter The head bears a portrait of the Empress Maria Theresa, and the tail is her Imperial Arms “The alloy from which the coin is struck has a silver content of 83 1-3 per cent., compared with that of 50 per cent, in the United Kingdom silver coins struck between 1920 and 1946 Although the Empress died in 1780. her thaler has continued to be struck until the present day It is still dated 1780. "Maria Theresa's empire occupied a powerful position in Europe and her silver thalers circulated not only in Austria, but far beyond her borders, in countries that had acquired them from her in commerce. particularly those in the Middle East. It is still used extensively today in the Middle East as a trade token. Not In Currency “It has long since ceased to be a part of Austrian currency. It has no fixed face value but it is a piece of silver of guaranteed weight and fineness. As such it is widely known and trusted “In 1935. Austria, under pressure from Hitler and Mussolini, concluded a treaty with Italy under which a Rome mint was entitled to

strike the thaler for a period of 25 years. That was due to Mussolini’s need for large quantities to use in his Abyssinian campaign Italy then claimed a monopoly of the manufacture of thalers and traders found difficulty in obtaining supplies “As British interests needed thalers for trade purposes the Royal Mint prepared dies and struck them in London as occasion required. Royal Mint Struck 9in “Between 1936 and the outbreak of the Second World War. the Royal Mint struck about nine million. During the early part of the war 5.750.000 more were struck for use in Abyssinia, but at the end of 1940. to save shipping space, the dies and working tools were sent to India where 19 million more were struck by a Bombay mint. “After the war, minting was resumed in London, but during recent years the demand has been sporadic In 1954. for instance. 2.500.000 were struck, but irr 1959 only 202. Limited quantities were struck in 1960 and 1961, but none at all during the present year. “As the Austrian-Italian treaty expired in 1960. Austria feels her monopoly of manufacture should be restored. Henceforth the thaler may be minted only in Vienna—still dated 1780."