It remains in Choice XF or better condition. It is inscribed 1 Pfund Fein (1 Pound, Fine Silver). The front displays the bust of King Johann while the reverse shows the draped Saxon Coat of Arms with two crowns and a silver cross at the bottom.
This is an early example of the German Vereinsthaler (Unity Thaler) which was a harbringer of German Unification in 1871. The world Taler evolved into the world Dollar!