Unsourced material may be challenged and removed. Please help improve this section by adding citations to reliable sources. In 1681, the silver daler was debased, such that 1 riksdaler = 2 silver daler, with a further debasement in 1712 resulting in 1 riksdaler = 3 silver daler. The notes lost much of their value due to over production but succeeded in alleviating the immediate problem. These were issued by Stockholms Banco in 1661. The cumbersome size and weight of plate money eventually prompted Sweden to become the first country in Europe to issue banknotes. Denominations in copper money were marked K.M. As silver became scarce, the silver daler rose in value relative to the copper daler, with the exchange rate between the two eventually being set at a ratio of 3 to 1.
(The largest one is worth 10 daler and weighs almost 20 kilograms (44 lb)). These were rectangular pieces of copper weighing, in some cases, several kilograms.
Because of the low value of copper, large plate money ( plåtmynt) was issued. In 1609, the riksdaler rose to a value of 6 mark when the other Swedish coins were debased but the riksdaler remained constant.įrom 1624, daler were issued in copper as well as silver. In 1604, the name was changed to riksdaler ("daler of the realm", c.f. It was initially intended for international use and was divided into 4 marks and then a mark is further subdivided into 8 öre and then an öre is further subdivided into 24 pennings.
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