Vereinsthaler

In Prussia and several other northern German states, the Vereinsthaler was the standard unit of account, divided into 30 Silbergroschen, each of 12 Pfennig.

These states issued Vereinsmünze (union coinage) worth 1 and 2 Vereinsthaler, or 13⁄4 and 31⁄2 gulden.

Following German unification in 1871, the Goldmark was introduced in 1873 at a rate of 3 mark = 1 Vereinsthaler.

Consequently, the new 10 pfennig coins were equivalent to the old Groschen of northern Germany and this became a nickname for the denomination.

Unlike subsidiary silver coins of the goldmark with a legal tender limit of 20 marks, all silver 3-mark Vereinsthalers issued before 1871 enjoyed unlimited legal tender status even after the switchover to the gold standard.