The Thaler was the currency of the Free Hanseatic City of Bremen until 1873. It was divided into 72 Grote, each of 5 Schwaren. Until 1863, the Bremen Thaler was on a silver standard, containing  2⁄27 Cologne mark of silver. After 1863, the Bremen Thaler, unlike the Vereinsthaler, went over to a gold standard and was worth  1 4⁄21 grams of gold (420 Thaler to the 500 gram "pound"). In 1873, the Thaler was replaced by the mark (ℳ). As both currencies were based on gold, an exact conversion was carried out, with 1 Thaler =  3 9⁄28 ℳ.