Balthasar Eggenberger

Balthasar Eggenberger was an Austrian entrepreneur, master of the imperial mint and royal financier whose activities laid the foundations for the ascendance of the House of Eggenberg.

He was born in a family of Ulrich Eggenberger sometime in the early to mid-15th century. During 1450s Balthasar became master of the imperial mint at Graz, and financier to Frederick III, Holy Roman Emperor. He also served as director of the royal finance chamber of Hungarian king Matthias Corvinus. Most likely through his friendship with king Matthias he managed to obtain for his family a noble status. The ravens, which were a reference of the King Corvinus, also appeared on the coat-of-arms of his family.

As lessee of the mints, Balthasar was independent in the management. In coin minting operations, a legitimate profit could be made only if the costs of producing a coin were lower than the value of the coin as means of payment. Driven by the desire to make profit in 1459 he made reductions in the quality and individual weigh of his coins. The people started to call these worthless coins "Schinderling", and farmers would no longer accept them as currency. However, by doing so he managed to amass a large private fortune. In 1460 he acquired the land property to the west of Graz which he developed into the family seat with the Eggenberg Palace which can still be seen.

Since such actions could lead to financial collapse, the king ordered his capture but he succeeded to flee with his fortune in Venice. However, Eggenberg managed to reconcile with the king, and in May 1460 he returned to Graz and to restore his position as the master of the mint for the Emperor. However, for unknown reasons, he again lost the king’s grace and died imprisoned in the dungeons of the Schlossberg in 1493.