text: Frederick strove to put Prussia's fiscal system in order. In January 1750, Johann Philipp Graumann was appointed as Frederick's confidential adviser on finance, military affairs, and royal possessions, and the Director-General of all mint facilities. Graumann's currency reform slightly lowered the silver content of Prussian thaler from  Cologne mark of silver to , which brought the metal content of the thaler into alignment with its face value, and it standardised the Prussian coinage system. As a result, Prussian coins, which had been leaving the country nearly as fast as they were minted, remained in circulation in Prussia. Frederick estimated that he earned about one million thalers in profits on the seignorage. The coin eventually became universally accepted beyond Prussia and helped increase industry and trade. A gold coin, the Friedrich d'or, was also minted to oust the Dutch ducat from the Baltic trade. However, the fixed ratio between gold and silver led to the gold coins being perceived as more valuable, which caused them to leave circulation in Prussia. Unable to meet Frederick's expectations for profit, Graumann was removed in 1754.
  Although Frederick's debasement of the coinage to fund the Seven Years' War left the Prussian monetary system in disarray, the Mint Edict of May 1763 brought it back to stability by fixing rates at which depreciated coins would be accepted and requiring tax payments in currency of prewar value. This resulted in a shortage of ready money, but Frederick controlled prices by releasing the grain stocks he held in reserve for military campaigns. Many other rulers soon followed the steps of Frederick in reforming their own currencies. The functionality and stability of the reform made the Prussian monetary system the standard in Northern Germany.