After the County of Henneberg was enfeoffed with the ancestral castle of the Lords of Schaumburg around 1315, they had to move to a new ancestral seat, the manor of Niederfüllbach in Franconia. Halfway between Schalkau and Sonneberg, however, they quickly acquired Rauenstein, so that the castle was named as their property from around 1350. The Schaumburgs quickly established themselves at their new seat of power and by 1398, the area of the Rauenstein court already included numerous forest mountains, villages and the Hiftenberg houses (today's Siegmundsburg). In 1455, the village of Rauenstein is mentioned for the first time, although it is said to have existed before the castle and was merely purchased by the Schaumburgs. The castle was destroyed during the Thirty Years' War. According to legend, in 1635 a troop of Croats fleeing from the Swedes came down over the Waldhöhe to Theurer Grund and demanded bread, bacon, schnapps and money from the castle mill. The millers wanted to flee through an underground passage leading from the mill to the castle, but were caught at the entrance. The Croats then forced their way into the castle through the passage and plundered and pillaged the walls and the surrounding village. The Schaumburg lords had a new castle built at the foot of the castle hill, where the Greiner brothers founded a porcelain factory after the Schaumburgs died out in 1793, which existed until 1934. In the Museum of the New Palace today you can visit a porcelain cabinet, among other things. The castle mill, which today belongs to Theuern, is home to the German Gold Museum.