Germany - Saxony

Saxony (Sachsen) is a province in eastern Germany with a rich and varied history. The area has played a key role in German history since the Middle Ages, as one of the most important duchies of the Holy Roman Empire. The Saxon tribe was already a significant power in the early Middle Ages, although their original area of residence was more in what is now Lower Saxony and Westphalia. In the 10th century, the Ottonian dynasty (from the House of Saxons) came to the German throne, who laid the foundations of the Holy Roman Empire. At that time, the term "Saxony" referred to a wider, northern region. The territory of today's Saxony, or the Markgrafschaft, began to form in the 10th century, mainly with the subjugation of Slavic tribes (Sorbs) and their expansion to the east. The Archduchy of Meißen became the nucleus of what would later become Saxony. The House of Wettin acquired the Archduchy of Meißen in 1089 and from then on they ruled the territory for over 800 years, significantly shaping its fate. In the 15th century, with the Partition of Leipzig (1485), the House of Wettin split into two branches, the Ernestine and Albertine lines. The Albertine line acquired the title of Elector of Saxony in 1547, and from then on, present-day Saxony became known as the Electorate of Saxony, one of the most influential states in the Holy Roman Empire. The Reformation played a key role in Saxony. Martin Luther began his activities in Wittenberg (then part of Saxony), and the Saxon electors were one of the main supporters of the Reformation. In the 17th and 18th centuries, the In the 18th century, Saxony, and especially Dresden, became one of the centers of Baroque culture and art in Europe. During the reign of Augustus the Strong, Elector of Saxony and King of Poland (1694–1733), Dresden became a veritable jewel box, filled with magnificent buildings, art treasures and a significant musical life. The famous Meissen porcelain also dates from this period. However, in the 18th century, the Seven Years' War (1756–1763) caused severe damage to Saxony, and the region lost its former political and economic influence. During the Napoleonic Wars, Saxony was an ally of Napoleon, which led to heavy territorial losses at the Congress of Vienna (1815): a significant part of the region went to Prussia. The remaining part continued to exist as the Kingdom of Saxony, and in 1871 it became part of the German Empire. In the 19th century, Saxony industrialized, especially in the textile and mechanical industries. During the Weimar Republic and the Third Reich, the state remained an important center of industrial production. After World War II, Saxony became part of the German Democratic Republic (GDR). During this period, the economy was characterized by industrialization and collectivization, and the state suffered greatly from the repression of the communist regime. After German reunification (1990), Saxony became a state of the Federal Republic of Germany and has since experienced significant economic and cultural development, although it continues to struggle with the problems typical of the eastern states (e.g. emigration, unemployment). Today, Saxony has a dynamic economy, a rich cultural life, and a historical heritage that attract tourists and investors.

The minting of Saxony is an extremely rich and significant chapter in German monetary history, spanning centuries. Thanks to the region's vast silver deposits, Saxony became a center of coinage early on. The beginnings of Saxon coinage date back to the Middle Ages. The discovery of silver deposits around Meissen, especially in the 12th century, brought about a huge boom. The mines of Freiberg soon became the most important source of silver in Europe. This enabled Saxony to mint a significant amount of its own coins, which contributed greatly to the region's economic and political influence. Several mints operated in Saxony over the centuries. The most important were those in Leipzig, Dresden, and Freiberg. The types of coins minted here were extremely diverse: Pfennigs: In the early period, small pfennigs were the most common. Groschen: In the later Middle Ages, from the 14th century onwards, the larger groschen (German: "Groschen") came to the fore. The most famous of these was the "Meissner Groschen", which was one of the most important trade coins of the time. Taller (Taller): In the 16th century, the minting of large silver coins, the thaler (thaler), which was widespread in German territories, also flourished in Saxony. The Saxon thalers often had a high silver content and were also popular in international trade. The "Klappmützentaler" and the "Breittaler" stand out in particular. Gold coins: Although silver was the dominant form, gold coins were also minted, such as ducats. The 17th and 18th centuries were a golden age for Saxon coinage, especially under strong rulers such as Augustus the Strong. At that time, Saxon coinage served as a model for other German territories. It is important to mention the Imperial Coinage Regulations (Reichsmünzordnungen), which attempted to standardize the coinage of the various principalities, although this was often challenging in practice. Saxony generally tried to comply with these norms, but often maintained its own standards of weight and fineness. In the 19th century, with the establishment of the German Empire (1871) and the introduction of the mark, Saxon coinage was gradually absorbed into the unified German monetary system.