The Swedish krona (Swedish crown) is the currency in course in Sweden since 1873 and is divided into 100 øres.
Origins and history of the Swedish crown
The crown was introduced in Sweden, for the first time, in 1873 to replace the Riksdaler riksmynt, as a result of the agreements of the Scandinavian Monetary Union. After dissolving this Monetary Union, Sweden, Denmark and Norway decided to keep the names of their respective currencies.
Between 1873 and 1876 the first coins were introduced. Those of 1, 2 and 5 öres were of bronze, those of 10, 25, 50 öres, 1 and 2 crowns of silver and those of 10 and 20 crowns of gold. Also, 5 gold crowns were added in 1881.
The production of gold coins ended in 1902, but it would not do so until 1925. As a consequence of the shortage of metals during the First World War, iron replaced bronze between 1917 and 1919. Brass replaced silver in coins of 10, 25 and 50 öre in 1920, but in 1927 they were re-minted in silver.
During the Second World War there was also a shortage of metals, so the monetary cone changed again.
Notes and coins of the Swedish krona in use
Currently, 20, 50, 100, 500 and 1000 Swedish krona notes are in circulation.
As for the coins, they are in use for 1, 2, 5 and 10 crowns.
Did you know?
- After the dissolution of the Scandinavian Monetary Union in 1914, Denmark, Norway and Sweden decided to keep the name of the currency of their respective territories.
- The 100 öres currency is no longer in circulation, although retail prices are still booked in crowns and with decimals.
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