1 Schilling - Eric XIV Type 2, without shield

Eric XIV's grip on Reval — seized from the Teutonic Order's collapsing successor state in 1561 — was contested from the start, with the city's merchant oligarchy demanding trading privileges in exchange for loyalty. The omission of the municipal shield on this type likely reflects a specific political negotiation between the city and the Swedish crown over rights and representation, though the precise administrative decision behind the design change has not been definitively documented. Eric himself was deposed by his brother John III in 1568, the final year of this issue's production, and died imprisoned in 1577.