Groschen Público Deposited
Originally this was the German form of the Gros Tournois (q.v.) which it resembled; even the name Turnosgroschen was retained and later abbreviated into Turnose and finally into Groschen.
These coins appeared first in the Rhine Provinces and Saxony, but they were rapidly introduced throughout all Germany. The divisions in the northern part consisted of Pfennige and in south Germany of Kreuzer of which usually twelve, but in some instances, eight or sixteen were considered an equivalent. Their composition, while originally of very good silver, became debased and their corresponding value reached as low as from two to four Pfennige.
In the German money of account the term Schockgroschen frequently occurs. Schock is an old German word, meaning sixty, and it is commonly used in conjunction with small portable articles, such as fruit, eggs, etc. It was applied to these coins on account of the quantity that were an equivalent of the Mark, as a weight; and the term was dropped when the Guldengroschen or Thaler was introduced.
- Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)