The Austrian archduke Leopold V, was a member of the Habsburg dynasty. He was born in 1586, as the only son of Archduke Charles of Inner Austria and Princess Maria Anna of Bavaria. During his life, he played many important political and military roles in the life of the Austrian Empire. In 1609, he fought against Maximilian III. After the archduke died, Leopold inherited from him the territories of Lower Austria and Tyrol. In addition to his role in the battles, he also placed great emphasis on supporting the arts and culture. For example, Schönbrunn Palace in Vienna was built during his time, which is still one of the most famous buildings of the Habsburg dynasty. Leopold V died in 1632. After his death, his son Charles Ferdinand took over the Austrian throne.

The Austrian Archduke Lipót V was minted from 1626 to 1632 during the Thirty Years' War. To cover the costs of the war, the archduke minted a significant amount of money, which significantly increased the money supply. Among the coins minted by the archduke, we find gold forints, silver thalers and copper coins. The obverse of the copper coins featured the archduke's monogram, and the reverse the inscription "LEOPOLDVS DG AVSTRIAE DVX". The coins minted by Lipót V had a significant impact on the economy of the time. The increase in the money supply contributed to inflation, but also helped to cover the costs of the war. Among the coins minted by the archduke, the most famous is the "Leopold thaller". This thaler was introduced in 1627 and soon became a commonly accepted currency in war zones.