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| Historical currencies of Denmark | |
|---|---|
| Name | Historical currencies of Denmark |
| Native name | Historiske valutaer i Danmark |
| Introduced | c. 8th century |
| Discontinued | 20th century (older units) |
| Subunit name | skilling, mark, øre |
| Used by | Denmark, Norway (historically), Schleswig, Holstein |
Historical currencies of Denmark
Denmark's monetary past spans from Viking Age hacksilver to the modern Danish krone, reflecting interactions with Viking Age, Holy Roman Empire, Hanover, Sweden, Norway, and British Empire. Monetary changes mirrored treaties such as the Treaty of Roskilde, economic unions like the Scandinavian Monetary Union, and institutions including the National Bank of Denmark and the Royal Mint. Coinage, weights, and standards were influenced by rulers from Harald Bluetooth to Christian IX and by conflicts like the Napoleonic Wars and the Second Schleswig War.
In the Viking Age Scandinavian trade networks connected Dorestad, Birka, Hedeby, Ribe, and Jórvík, where hacksilver, arm rings, and cut coins circulated alongside imports from the Byzantine Empire, Abbasid Caliphate, Anglo-Saxon England, Frisia, and Kievan Rus'. Danish rulers such as Gorm the Old and Harald Bluetooth engaged with Carolingian and Ottonian monetary systems, adopting coin types akin to those struck under Charlemagne, Louis the Pious, Otto I, and Henry I. Finds like the Trelleborg hoard, Skåde hoard, and Silvergate Viking hoard show use of Islamic dirhams, Anglo-Saxon sceattas, and Continental deniers, while trade centers such as Haithabu and Lundenwic facilitated bullion exchange and weight standards tied to the Mark (unit), Pound sterling (history), and early pound weight concepts.
From the 12th century monarchs including Valdemar I and Valdemar II issued deniers, pennies, and bracteates modeled after Henry II of England and Philippe II of France types; mints at Aalborg, Roskilde, Copenhagen, and Hedeby standardized issues. The introduction of the Mark (currency) and subdivisions such as the skilling and øre reflected influence from the Lombard banking networks and the Hanseatic League centers of Lübeck, Rostock, and Hamburg. Monetary crises tied to the Black Death, the Count's Feud, and royal debts led to debasements under dynasties like the House of Estridsen and administrators such as Peder Nielsen Låven, prompting reforms linked to legal ordinances from kings including Christopher II and Valdemar IV Atterdag.
The 16th-century coinage reform under Christian III and later rulers standardized the rigsdaler as a large silver coin, paralleling the Thaler used across the Holy Roman Empire and adopted by rulers like Gustav Vasa and Frederick II of Prussia. The rigsdaler coexisted with the skilling and mark, and later issues bore the portraits of monarchs from Christian IV to Frederick VI, minted at the Kongelige Mønt (Royal Mint) in Copenhagen. Financial pressures from the Great Northern War, the Napoleonic Wars, and territorial losses in the Treaty of Kiel triggered issuance of paper money by the Rigsbank and later the National Bank of Denmark, echoing practices in Sweden and Britain. The 19th century saw debates influenced by economists like Friedrich von Weizsäcker and bankers linked to the Bank of England model, culminating in moves toward metal standards and international convertibility.
Following monetary instability and the 1864 defeat in the Second Schleswig War, Denmark joined the Scandinavian Monetary Union in 1873–1875, adopting the krone (krona in Sweden and krona in Norway) based on the gold standard used by Germany and France. The Coinage Act and treaties with Sweden–Norway harmonized the krone with the Riksdag-backed Swedish krona and the Norwegian krone, while the National Bank of Denmark coordinated issues with the Riksbank and the Norges Bank. Key figures included King Christian IX and financiers such as H.C. Hansen (banker). Mint marks and designs referenced national symbols like the Danish crown and inscriptions mentioning Danmark and royal cyphers.
During World War I and World War II pressures from blockade, occupation by Nazi Germany, and global inflation affected Danish currency policy; occupation-era issues involved emergency notes authorized under officials connected to the Danish government-in-exile and institutions like the National Bank of Denmark. Postwar stabilization paralleled actions by the International Monetary Fund and realignments after the Bretton Woods Conference, while episodes such as the 1970s oil crisis and European integration debates engaged leaders like Poul Schlüter and Anker Jørgensen. Monetary sovereignty issues resurfaced during discussions about joining the European Monetary Union and the Euro, involving parliamentary referendums and treaties signed by Danish prime ministers and finance ministers.
The Royal Mint (Kongelige Mønt) in Copenhagen and the National Bank of Denmark have issued coinage and banknotes featuring monarchs from Frederick VII to Margrethe II and artists such as Thorvald Bindesbøll. Notable banknote series include issues from the Rigsbank era, the Nationalbank 19th-century emissions, and occupation emergency notes collected by numismatists at institutions like the Danish National Museum and the British Museum. Collectors study rarities such as medieval deniers, 17th-century debased rigsdaler, and prototype krones, with scholarship published by societies like the Royal Danish Academy of Sciences and Letters and journals associated with the International Numismatic Council.
Category:Numismatics of Denmark Category:Monetary history of Denmark Category:Coins of Europe