Prince Charles I (1713-1780) was the ruler of the Principality of Brunswick-Wölfenbüttel of the German States from 1735 until his death. During his minting, he issued several coins, the best known of which were the thalers, ducats and pfennigs. Tallers were made of silver, ducats were made of gold, and pfennigs were made of copper. The value of thalers was 24 pfennigs, and the value of ducats was 12 thalers. Coins usually featured the prince's portrait, coat of arms, name and year of reign. The mint was located in Wolfenbüttel, where the duke also had a palace built. The purpose of coinage was to promote the economic development of the principality and to express the power and authority of the prince.