After unsuccessful attempts at reform, during a period of high prices that caused riots in Gdansk and the closure of the local mint, a new ordinance was agreed on July 7. The document was promulgated by the grand master as early as August 24, 1416, which began a period of two currencies.
It introduced new shekels, in fine silver, characterized by a long cross extending beyond the monastic shield. Their exchange rate was set at two "old", "inflationary" Michael's shekels each.
