Damn..... sorry about that....aint ready to post yet.....
In 1741, the first MTT was struck according to the
Reichsthaler standard with 1⁄9 of a
Cologne mark of fine silver, or 25.98 grams. In 1750 a new
thaler was struck with a gross weight of 1⁄10 of 1 Vienna mark of silver, 5⁄6 fine (with a fine silver content of 23.39 grams, or 1⁄10 of a Cologne mark). In 1751 this new standard
Conventionsthaler was effectively adopted across the German-speaking world when it was accepted formally in the Bavarian monetary convention. This new, post-1751 thaler has continued as a trade coin ever since.
Since the death of Maria Theresa in 1780, the coin has always been dated 1780. On 19 September 1857, Emperor
Francis Joseph of Austria declared the Maria Theresa thaler to be an official trade coinage. A little over a year later, on 31 October 1858, it lost its status as a currency in Austria.
The MTT could also be found throughout the
Arab world, especially in
Saudi Arabia,
Yemen, and
Muscat and Oman, in Africa, especially in
Ethiopia, and
India. Being of similar size to the
Spanish eight-real coin, and initially thought to be of French origin, the MTT acquired the Arab name
al-riyal al-fransi (الريال الفرنسى, literally the 'French riyal'). This coin was therefore the predecessor to, among others, the
Saudi riyal and the
Ethiopian birr.
During the
Japanese occupation of the Dutch East Indies in World War II, enough people preferred it to the money issued by the occupying forces that the American
Office of Strategic Services created counterfeit MTTs for use by resistance forces.
The MTT quickly became a standard trade coin and several nations began striking Maria Theresa thalers. The following
mints have struck MTTs:
Birmingham,
Bombay,
Brussels,
London,
Paris,
Rome, and
Utrecht, in addition to the
Habsburg mints in
Günzburg,
Hall in Tyrol,
Karlsburg,
Kremnica,
Milan,
Prague, and
Vienna. Between 1751 and 2000, some 389 million were minted. These various mints distinguished their issues by slight differences in the design, with some of these evolving over time. In 1935
Mussolini gained a 25-year concession over the production of the MTT. The Italians blocked non-Italian banks and bullion traders from obtaining the coin and so France, Belgium, and the UK started producing the coin to support their economic interests in the Red Sea, Persian Gulf, and East Coast of Africa. In 1961 the 25-year concession ended and Austria made diplomatic approaches to the relevant governments requesting they cease production of the coin. The UK was the last government to agree formally to the request in February 1962.
The MTT came to be used as currency in large parts of Africa and the Middle East until after
World War II. It was common from North Africa to
Somalia,
Ethiopia,
Kenya, down the coast of
Tanzania to
Mozambique, and also in the Arabian Peninsula (
Oman,
Yemen). Its popularity in the
Red Sea region was such that merchants would not accept any other type of currency. The Italian government produced a similarly designed coin in the hope of replacing the Maria Theresa thaler, but it never gained acceptance.
The Maria Theresa thaler was also formerly the currency of the Hejaz, Yemen, and the Aden Protectorate, as well as
Muscat and Oman on the Arabia peninsula. There it was widely used for traditional jewellery, both as a source of silver, and as a decoration itself. The coin remains popular in
North Africa and the
Middle East to this day in its original form: a silver coin with a portrait of the ruler on the front and the
Habsburg Double Eagle on the back.
In the
United Kingdom, the Maria Theresa thaler bearing the date of 1780 is a "protected coin" for of Part II of the
Forgery and Counterfeiting Act 1981.
Pretty cool, coin, easy to get one, kind of a "must have" as a conversation piece on the history of modern coinage.
www.numisbids.com
