Martin Holtzhey (1697, in Ulm – 1764, in Middelburg), was an 18th-century German medallist and mint master, active in the Dutch Republic.
When Holtzhey struck such "historical medals", he often included a paper explaining the symbolism he used on them, a tradition that was continued later by his son Johann Georg.
[2] His medals were popular with wealthy followers of the enlightenment, such as Pieter Teyler van der Hulst.
[4] In 1749 he handed his Amsterdam workshop over to his son Johann Georg when he moved to Harderwijk to become mint master of Gelderland.
In the year 1754 the new duits were coined with 'Luctor et Ementor', or "I struggle and go under", which would imply the lion is drowning rather than emerging from the floods.