Although 22 cantons and half-cantons issued coins between 1803 and 1850, less than 15% of the money in circulation in Switzerland in 1850 was locally produced, with the rest being foreign, mainly brought back by mercenaries. In addition, some private banks also started issuing the first banknotes, so that in total, at least 8000 different coins and notes were in circulation at that time, making the monetary system extremely complicated. In practice, only the larger German or French trade coins were recognized for large payments within and outside Switzerland. Local small change or banknotes were typically useful only in the issuing canton and were not accepted elsewhere.