Kremnica

Kremnica lies in a wooded mountain valley rich in gold, one of the great mining towns of the Hungarian kingdom. In 1328 King Charles I of Hungary granted it the privileges of a free royal mining town and established a royal mint. The town's German name, Kremnitz, and Hungarian name, Körmöcbánya, were carried far beyond the valley by the coins struck from its precious metal. Mines, craftsmen and the mint together supported a prosperous community beneath the fortified town church.

Kremnica's gold florins followed the Florentine model and became known as ducats, valued for their reliable purity. As gold production declined at the end of the fifteenth century, the mint also struck large silver coins: the guldiners issued for chamber count Ján Thurzo between 1499 and 1506. The output of the mines and the work of the mint tied the town to the finances of the crown and to trade across Europe.

Mining passed through periods of decline and renewed investment. In the eighteenth century the royal court again supported the industry, and Francis of Lorraine visited in 1751. After 1710 the mint introduced screw presses under the technician Daniel Warou, improving the production of coins and medals. Kremnica's long association with gold left its mark on both the town and the currency of Hungary.