Swedish krona

The crown (Swedish: krona, plural kronor) is the official currency of Sweden. Its ISO 4217 code is SEK and is abbreviated as kr.. It is divided into 100 öre, and circulates, along with the euro, on the Finnish islands of Åland.

History

The krone was first introduced in 1873 to replace the riksdaler riksmynt at par, as a result of the Scandinavian Monetary Union arrangements.

After the dissolution of the monetary union, Sweden, Denmark and Norway decided to keep the names of their respective currencies.

Coins

Between 1873 and 1876 the first coins of 1, 2, 5, 10, 25, 50 öre, 1, 2, 10 and 20 crowns were introduced. The 1, 2, and 5 öre coins were bronze, the 10, 25, 50 öre, 1, and 2 crowns silver, and the 10 and 20 crowns silver. gold. Gold 5 crown coins were also added in 1881.

The production of gold coins ended in 1902 and was timidly reestablished in 1920 until it ceased completely in 1925. Due to the shortage of metals during the First World War, iron replaced bronze between 1917 and 1919. Cupronickel it replaced silver in the 10, 25 and 50 öre coins in 1920, but in 1927 they were struck again in silver.

During World War II there was also a shortage of metals, so the monetary cone changed again. Cupronickel coins of 10, 25 and 50 öre were minted again in 1940, 1946 and 1947. In 1942, iron again replaced bronze until 1950 when both iron and bronze were minted, and the silver content in the other denominations was reduced. In 1963, cupronickel replaced silver in the 10, 25, 50 öre coins, and the 1 and 2 kronor coins in 1968.

Silver 5-crown coins were minted in 1954, 1955, and 1961, similar in design to the later cupronickel 1- and 2-crown coins.

In 1972 a new, smaller 5-krona coin minted in cupronickel was introduced. The design used until 2016 had been minted since 1979. In 1971, production of the 1 and 2 öre coins, as well as the 2-crown coin, ended. The size of the 5 öre coins was reduced in 1972. In 1984, the 5 and 25 öre coins were discontinued, as was the case in 1991 with the 5 öre coins. 10 ore. In 1992, aluminum-brass (Nordic gold) 10 kroner coins were introduced, along with a new type of 50 bronze öre. The government decided in March 2009 to suspend the production of 50 öre coins, which ceased to be valid as a means of payment on October 1, 2010.

The 2-crown coin was minted from 1876 to 1971, with a silver content that was applied until 1968. The silver content is of an approximate value of 19 crowns, for which reason it practically did not circulate, but it maintained its value as a means of payment until 2017. Coins prior to 1942 contain a higher percentage. There is severe legislation that prohibits its casting. The coin has the figure of Gustavo VI Adolfo minted on the obverse, and the national coat of arms on the reverse.

In 2016, a new series of 1, 2 and 5 krona coins was introduced, replacing the previous cupronickel versions. The latter were withdrawn from circulation on August 31, 2017. Of the previous series, only the 10 crown coin remains, which retains its same design and composition.

Current currencies are listed below:

Tickets

In 1874, the Riksbank introduced notes of 1, 5, 10, 50, 100 and 1000 kroner. Initially, 1 kroon notes were issued for two years, but then reappeared between 1914 and 1920. In 1939 and 1958, 10,000 kroon notes were issued.

Issuance of 5-krona notes was discontinued in 1981, despite a coin being minted since 1972. In 1985, 500-kroner denominations were introduced. With the introduction of 10-kroner coins in 1991, production of 10-kroner notes ceased and 20-kroner notes were added. The issuance of 50-krona notes also ended, but in 1996 it was reinstated again. In 2006 the Bank of Sweden introduced a new 1000 kroner note.

Recently, the Riksbank announced that the current banknotes will be replaced by more modern ones.