The cantons of the Old Swiss Confederacy used a currency system consisting of based on the old unit of the Schilling, with the Schilling divided into 4 Rappen or 12 Haller. The Taler was a large silver coin equivalent to 72 Schilling or 2 Gulden that came into use in the 16th century. The Batzen was an intermediate coin equivalent to 2 Schilling or 1⁄18 Gulden.