Before the Swiss franc became the nationally recognized currency, there were about 75 different organizations in Switzerland which produced their own coins. They included 25 cantons, 16 towns, and several abbeys. Coins of 860 different types with various value and nominal were used in the country. By 1850, the national currency accounted for only 15% of the money in circulation in Switzerland with the rest being foreign mainly brought by merchants. In addition, some private banks started issuing the first banknotes. In total, about 8,000 different coins and notes were in circulation at that time, making the monetary system extremely complicated.[-copied]
