Coin Item Number: Ca62 from the MOA: University of British Columbia
Round, decorated edge; head of Maria Theresa with text around; double-headed eagle, shields on chest, text around. Obverse has bust of Maria Theresa, facing right, text reads "M.Theresia.D.G.R.IMP.HU.BO.REG. (Maria Theresa, by the grace of God, holy Roman Emperess, Queen of Hungary and Bohemia.)" Reverse has Austrian double-headed eagle, crowned, two crowns on shield with multiple designs. Edge inscription, "Justitia et Clementia" separated by decorations.
Trade currency minted in Vienna by the Austro-Hungarian Empire, exported especially to Africa and the Middle East; coins were also used as a decorative element on a number of objects. It was extremely popular in Ethiopia where it circulated as the de facto national currency for 150 years, when it introduced as payment for exports of slaves and coffee. The success of the dollar was possibly due to its inherent value as silver, the difficulty of forging it, or its versatility as a medium of exchange between other currencies. Ethiopians’ loyalty to the coin extended to not checking for signs of forgery, which was a common practice for silver coins, and to exclude many other currencies. Invading forces, such as Great Britain and Italy, brought large amounts of Maria Theresa dollars to fund their campaigns. Attempts by local rulers and European powers to replace the coins were largely unsuccessful. The introduction of this coinage had numerous impacts on 19th century Ethiopian society: it led to an increased tax burden on many people, and allowed local rulers to store and save their revenues. These larger and more versatile treasuries would typically be used to purchase firearms from outside the country, giving greater strength to provinces on the coast, who had easier access to the dollars. The coins also served as Ethiopia’s first unified system of weights, and could be melted down to compensate for the country’s shortage of silver.
currency; exchange
The symbols on the coin are designed to display the prestige of Maria Theresa and the Austro-Hungarian Empire. In Ethiopia, several features of the coin’s design were recognized as signifiers of legitimate currency: the jewels on Theresa’s diadem, her mourning veil, and the initials of the original minters.