Miklós Redwitz served as the Ban of Szörény in the first half of the 15th century, in the southeastern border region of the Kingdom of Hungary, in the strategically important Banate of Szörény. This area was located in the western part of present-day Romania, mainly in Oltenia and on the eastern edge of the Banate. The Banate of Szörény was annexed to Hungary by King Sigismund in 1419, after he led a successful campaign on the Lower Danube. The area played an important defensive role in the fight against the Turkish conquests, so the king strengthened the castles and had new ones built. In 1429, King Sigismund granted the Banate of Szörény to the Teutonic Knights and appointed its Grand Master, Miklós Redwitz, as the ban. Miklós Redwitz was the head of the banate from 1432 to 1439, but during his reign, the banate was Vlad the Great, with the help of the Turks, occupied most of the banate. Only Szörényvár and Orsova remained in Hungarian hands. Miklós Redwitz is credited with the spread of copper coins in Hungary. Previously, gold and silver coins were mainly minted, but he introduced cheaper copper coins for economic reasons. The best known of these were the "Rében garas", which spread quickly, although they soon wore out. The technical innovation in coinage was that new cylinders were not made for the copper coins, but the existing gold and silver cylinders were used in a special way. In 1439, King Albert appointed János Hunyadi as Ban of Szörény, thus ending Miklós Redwitz's term of office.

Between 1432 and 1439 Miklós Redwitz, ban of Szőrény, controlled the minting of Hungary. During this period, significant changes took place in the Hungarian coinage. Before Miklós Redwitz, the Hungarian coinage consisted mainly of gold and silver coins. Among the gold coins, the forint was the most frequently minted coin, while the garas was the most common among the silver coins. During the time of Miklós Redwitz, however, copper coins began to circulate in increasing quantities. Miklós Redwitz initiated the minting of copper coins because gold and silver coins were becoming more and more expensive. The production of copper coins was much cheaper than gold or silver coins. Miklós Redwitz's first copper coins were minted in 1432. These coins became known as the "Rében invention". The essence of Rében's invention was that in order to mint copper coins, it was not necessary to make new minting cylinders, but the already existing gold and silver minting cylinders were used. However, in order to mint the copper coins, the cylinders had to be handled in a special way. The copper coins of Miklós Redwitz spread quickly in Hungary. The advantage of copper coins was that they were cheap, but they wore out quickly. Copper coins played an increasingly important role in Hungarian minting. The most frequently minted coin of Miklós Redwitz's copper coins was the 24-denarius coin. These coins became known as "Rében garas". In the second half of the 15th century, the Rében garas were the most frequently minted coins in Hungarian minting.