III. Károly was a member of the House of Habsburg. He ascended the throne in Hungary and the Czech Republic in 1711, and later became ruler of Austria as well.

From the point of view of Hungarian history, one of the most significant events during his reign was the Rákóczi Uprising, the main goal of which was independence from Habsburg rule. The uprising was unsuccessful, but caused further political instability in the country. III. Károly tried to involve Hungary as much as possible in the Habsburg Empire.

He died in 1740, and was succeeded on the Hungarian throne by his daughter Mária Terézia.

III. During the reign of Károly, significant changes took place in the field of Hungarian coinage, which included the modernization of the coinage technique. At the beginning of the 1710s, the Hungarian economy was dragged down by a crisis and high inflation.

In order to stabilize the economic situation III. Károly introduced new coinage techniques, one of the most important factors being the so-called it was a "consolidation coinage" that concentrated on silver content. During the consolidation coinage, the mints used higher quality silver than before, so they were able to achieve a more stable exchange rate. Consolidation coins were minted from 1715, and further new coins were introduced in the remaining years.

Among the new coinage techniques was the so-called also "extortion". The coins were made with presses that provided a higher pressing force. This technique allowed the coins to be technically of better quality and aesthetically more beautiful than before.

All of these contributed to the reduction of inflation, the increase of tax revenues and the improvement of the economic situation of the empire.
III. Károly's coinage policy and coinage technique significantly contributed to the stabilization of the Hungarian economy.