The Prague Mint and Precious Metal Supply
The prosperity of the Prague mint had historically depended on uncertain sources of precious metals. Aside from a few ambiguous mentions from the Hussite revolution period, when Prague groschen were reportedly minted, only occasional gold ducats were issued in Prague between the 14th and early 16th centuries—those of Charles IV, Wenceslaus IV, both Jagiellonian kings, and possibly florins of John of Luxembourg.
Prague lacked a stable supply of gold and especially silver, making regular minting operations unprofitable.
The Discovery of Silver and Economic Growth
This changed with the discovery of rich silver deposits in Joachimsthal, which encouraged further prospecting across Bohemia. Political stability and the general economic boom during Ferdinand I’s reign also supported investment into mining and minting.
Regional Silver Mining
By the mid-16th century, silver was mined in multiple areas near and far from Prague: Stříbrná Skalice, Nalžovské and Ratibořské Hory, Březové Hory near Příbram, the surroundings of Rudolfov, Mikulov in the Ore Mountains, and more. These sources, along with pagament (precious metal purchased by the mint), formed the foundation for renewed minting at the turn of the 1530s and 1540s.
Sauermann’s Minting and the Collector’s Ducats
In 1539, after negotiations with the king and the Bohemian Chamber, the newly established mint was leased to wealthy Breslau burgher Konrad Sauermann. His venture ended in 1542 with a loss of 2,284 Rhenish guilders, 17 groschen, and 2.5 pfennigs.
During his tenure, a very limited number of gold ducats were struck—only a few hundred pieces. Today, these are true collector’s rarities. The 1541 and 1542 ducats were acquired by Jaroslav Kokolus and will be offered in the 35th auctionunder lots 56 and 57.
Lot 56. Ducat 1541. Prague
Slight mint-made crack. Extremely rare!
Grade: VF | good VF — Starting price: €18,000
Lot 57. Ducat 1542. Prague
Highly collectible piece with beautiful patina and mirror-like lustre in the fields. Missing in the Wiener Münzkabinett Collection! Extremely rare!
Grade: good EF | good EF — Starting price: €30,000
