Description
Object description
Maria Theresa Thaler or Trade Silver Dollar
Label
The British bought the dies of this famous old design of silver coin, which had long circulated around the Arab world, in the 1930's. New coins were minted, still dated 1780, to pay Ethiopian irregulars fighting with the British against the Italians during the Second World War, as they would not accept paper currency.
The silver thaler was originally struck in Austria from 1740 to 1780 and was the currency of the Austrian Empire. The silver thaler was very important for trade with the Levant (parts of Turkey, Lebanon, Syria) and the Maria Theresa Thaler became the best known and most popular silver coin in the Arabian world. After the death of Empress Maria Theresa in 1780, Joseph II permitted the Austrian mint to continue striking the coin with the 1780 dies in order to meet the demand from the Middle East. The 1780 thaler was the only silver coin that the Arabs trusted and would accept. Since then, the Maria Theresa thaler has been restruck for trade purposes at Vienna, Austria, with the 1780 date frozen in time. The thaler became the unofficial currency in some areas of Africa and Asia, and is still in use today as a 'trade silver dollar' in many Arabian bazaars.
History note
The British bought the dies of this famous old design of silver coin, which had long circulated around the Arab world, in the 1930's. New coins were minted, still dated 1780, to pay Ethiopian irregulars fighting with the British against the Italians during the Second World War, as they would not accept paper currency.
The silver thaler was originally struck in Austria from 1740 to 1780 and was the currency of the Austrian Empire. The silver thaler was very important for trade with the Levant (parts of Turkey, Lebanon, Syria) and the Maria Theresa Thaler became the best known and most popular silver coin in the Arabian world. After the death of Empress Maria Theresa in 1780, Joseph II permitted the Austrian mint to continue striking the coin with the 1780 dies in order to meet the demand from the Middle East. The 1780 thaler was the only silver coin that the Arabs trusted and would accept. Since then, the Maria Theresa thaler has been restruck for trade purposes at Vienna, Austria, with the 1780 date frozen in time. The thaler became the unofficial currency in some areas of Africa and Asia, and is still in use today as a 'trade silver dollar' in many Arabian bazaars.