We are currently accepting qualities for the 3rd Limited Auction and the 16th Premium Auction
During the reign of Stanisław August Poniatowski, three mint ordinances were implemented, which was aimed at stabilizing the monetary system in the Commonwealth. The first ordinance, introduced on February 10, 1766, was an attempt to significantly improve the quality of the Polish coin, which for years remained in poor condition. The king, bearing in mind both the prestige of the state and the desire to stabilize the economy, decided to introduce coins with a much higher trough than coins emitted by neighboring countries. His intention was to create a strong and reliable currency that could compete with foreign money. The production of coins from a much higher sample than the coins of neighboring countries brought large economic losses. The law of Copernicus-Gresham worked, the worse coin displaced a better coin from circulation. Coins stamped in good silver "escaped" abroad and the Polish market was still flooding a vile a foreign coin. Due to the difficulties resulting from the first reform, after 21 years of March 15, 1787, the second Mint Ordinance was introduced, which aimed to correct earlier mistakes. As part of this ordinance, it was decided to reduce the mint foot, which meant a reduction in the content of the ore in Polish coins. Reducing the amount of silver in coins was to stop the phenomenon of the export of the Polish currency abroad, because the difference between Polish and foreign coins was reduced
The last Mennicza ordination during the reign of Stanisław August Poniatowski was introduced on June 14, 1794, but it was not a royal initiative, but the decision of Tadeusz Kościuszko, the chief commander of the uprising. It was a reaction to the urgent need to finance military operations against partitioners during insurrection. In the face of the dramatic financial situation of the state, this ordinance provided for further reduction in the mint rate in the case of gold and silver coins. When it comes to silver coins, the thaler value was reduced from 8 to 6 zlotys, thus about 6 grams of pure silver on one piece. Earlier, the thalers were struck from 13 attempts, now they were beaten from silver 11 trials. The attempt at the Dukaty was reduced from 23 and 7/24 carats to 20 carats. In addition, a 6 -pea coin was introduced from 3 ½ lut silver. As a result of the ordinance from 1794, tax tickets were introduced into circulation, commonly called insurrectional. Another novelty brought by the Mennicza ordination of June 14, 1794 was the introduction of two new gold denominations - Stanislador and half Stanislador. These coins were a significant step in the reorganization of the monetary system in the Commonwealth. Although in the Mennicza Ordinance from 1794 these coins were treated as new denominations, their reverses were expressed in the ducats: Stanislador had the number "3", and in half Stanislador "1 ½".
The broadcast of these denominations was a pragmatic solution in a difficult economic situation, giving the possibility of easier management with larger amounts in circulation, which was to alleviate the problems with financing the uprising. The preserved documents show that Stanisladory was killed in a circulation of 5256 pieces, and half Stanisladora in the number of 8,114 pieces. The graphic design of these coins clearly stood out from other gold coins produced in Poland, because it was modeled on French aesthetic standards. Although the date "1794" was broken on the coins, the analysis of the stamps carried out by the researcher Rafał Janke suggests that they were actually beaten not only in 1794, but also in 1795. Stanislador was the highest gold denomination, which was broadcast during the reign of Stanisław August Poniatowski. The Mint Ordinance from 1794, also known as the Kościuszko Ordinance, was special, because for the first time in the history of the Polish Menage it was decided to issue subtrants of gold coins. These were coins whose actual gold content was lower than their nominal value. This decision had a significant economic importance - it allowed to increase the number of emitted coins while limiting the consumption of valuable ore. The introduction of Stanislador and a half Stanislador also had a psychological aspect. These were coins with a high denomination, which gave the impression that the Polish monetary system was still stable and valuable, which was to increase the morale of the population and create the impression of the country's economic force, despite real financial problems. Despite the fact that their value in gold was smaller than nominal, they were an important means of payment, and their introduction played an important role in satisfying the immediate financial needs of the uprising. However, the long -term consequences of this policy were negative. The emission of subtars coins led to the depreciation of the golden currency and the loss of confidence in Polish money. Inflation, resulting from releasing coins with a reduced bullion value in circulation, additionally deepened the economic difficulties of the Commonwealth. Nevertheless, in a short period, the Kościuszko Ordinance and Stanislador's emission played a key role in financing the insurrection and enabled warfare. Stanislador remains a symbol of the struggle for the independence of the Commonwealth and an attempt to save the Polish economy in the face of catastrophic political and war conditions. Although the circulation was relatively low, both denominations appear in trade relatively regularly. However, getting a copy in a mint condition is practically impossible. In the pictures we present a coin from the upcoming XV Premium auction. This is one of the prettiest copies that have been offered on the auction market so far
Wójcicki Polish Auction House
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52-207 Wrocław
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tel.: 71 30 70 111
e-mail: m.wojcicki@wojcicki.pl
