Thaler

The Thaler was the currency used by Brunant before its replacemtn with the Euro in 2002.

First thaler
The first thaler was introduced in 1537 at a rate of 200 old Crown per Thaler (though few people still had the old crowns, as most were melted down in 1508 and 1509). This currency was issued in copper coins of 1/2, 1, 3 and 10 cent, in silver coins of 1/4, 1/2 1 and 2 Thalers and in gold coins of 5, 10 and 12.5 Thalers. This thaler varied in value, anywhere from 5 to about 20 ducats. During the Brunanter Civil War the minting of currency was reduced. Gold coins were not struck, silver pieces were made of base metals and copper coins were replaced by paper promissory notes. Public distrust in paper and "cheap currency" greatly reduced its value and this currency stopped being issued when Karl Van Draak took control.

Second thaler
The second thaler was introduced in 1665 at a rate of 74 old for one new. It was redenominated at 32 cents/thaler. This was issued in coins of 1, 2, 4, 8 and 16 cent (copper); 1, 5, 10 and 12.5 thalers (silver). Due to its stability, it became a heavily traded currency in the Mediterranean for many years. In 1703 a shortage in silver forced the government to introduce paper notes of 10, 12.5 and 20 Thalers. A lack of gold coins and a shortage in silver led to distrust and a rise in inflation. By 1704 a silver thaler was worth 21 paper ones and in 1705 around 240-250. That year notes of 50, 100 and 150 thalers were issued which were soon rendered worthless (by January 1706 one needed 600 paper thalers to get a silver one). Coin mintage soon stopped and Spanish Reales became the common currency.

Guldenthaler
The Guldenthaler (golden thaler) was the third Brunanter currency to be introduced, in 1706. This replaced the old paper thaler at a rate of 1000 to 1, and coins at a rate of 12 to 1. This was issued in the same denomination as the second thaler, plus it had gold coins of 20 and 30 thalers. As this currency was backed by gold, it was stable over a long period of time. In 1831 this was complemented by notes of 1/4 and 1/2 thaler, and soon local banks were also issuing notes in change (stranger denominations included 1/3, 7 1/2 and even 13 Th. The Central Bank introduced regular notes beginnin 1868 in denominations of 5, 10, 20, 50, 100 and 500 th. The guldenthaler remained in use until 1912, when currency decimalization was introduced.

Fourth thaler
Decimalization occured in 1912 after a long period of study. By then 1, 2 and even 4 thalers were pretty worthless and consequently the Thaler was, too. It was there fore decided to make 2 old cents equal one new cent (6.25 old Th. equaled 1 new Thaler). 2.36 TH. per US dollar.