The Gulden was the currency of the states of southern Germany between 1754 and 1873. These states included Bavaria, Baden, Württemberg, Frankfurt and Hohenzollern.This specific Gulden was based on the Gulden or florin used in the Holy Roman Empire during the Late Middle Ages and Early Modern period. In 1857, the Vereinsthaler was introduced with a silver content fractionally smaller than the Prussian standard. This led to a change of design for the thaler coins of southern Germany, but no changes were made to the other denominations.