2016-10-19 Wed

The “monetary terrorism” of the Kipper und Wipper period in Germany is showcased on a 1622 debased silver 24-kreuzer coin of Bavaria which is offered at the Heidelberger Munzhandlung Herbert Grun’s auctions on 8th and 9th November.

When the war began in 1618, the real silver value of fractional coinage in the Holy Roman Empire had been debased to a great extent. The period of further debasement is known as the Kipper und Wipper period which is the strangest period in the history of economics. It was a way to systematically defraud their neighbours. German states issued low-value imitations of coins from other territories and spent them in their own, to affect the economy of the other regions.

The name “Kipper und Wipper” means the use of tipping scales to pick out non-debased coins, melt and mix them with baser metals such as lead, copper or tin for reissue.

Finally, the debased coins were removed from circulation and replaced with real coins. Examples in good condition are rarely found.