Swedish riksdaler
The similarly named Reichsthaler, rijksdaalder, and rigsdaler were used in Germany and Austria-Hungary, the Netherlands, and Denmark-Norway, respectively.
Because of the low value of copper, large plate money (plåtmynt) was issued.
The cumbersome size and weight of plate money eventually prompted Sweden to become the first country in Europe to issue banknotes.
[5] The notes lost much of their value due to over production but succeeded in alleviating the immediate problem.
At the end of July 1768 the heavy plate money was abolished but reintroduced on 4 August out of need.
The new currency was issued in banknotes (fiat money) and silver and copper coins.
At first, only the Riksens Ständers Wexel-Banco (the Bank of the Riksdag of the Estates) could issue banknotes but, in 1789, the Riksgälds Kontor (Swedish National Debt Office) was established and given the right to issue its own banknotes.
The value of the copper coins of the Riksens Ständers Wexel-Banco fell (relative to silver) in line with the bank's paper money.
In 1835, a new copper coinage was introduced, consisting of 1⁄6, 1⁄3, 2⁄3, 1 and 2 skilling banco, along with silver 1⁄16 riksdaler pieces.
Paper money production resumed in 1701, with issued from the Kongliga (later Riksens) Ständers Wexel-Banco.
In 1777, banknotes were introduced in denominations of 2 and 3 riksdaler, although notes with hand written amounts continued to be issued until 1836.
In 1855 two reforms took place, the introduction a decimal system, and a switch in the main currency unit from "banco" to "riksgälds" (which was renamed as the riksdaler riksmynt).
The Scandinavian Monetary Union replaced the riksdaler riksmynt in 1873 with a new currency, the krona.
An equal valued krone/krona of the monetary union replaced the three Scandinavian currencies at the rate of 1 krone/krona = 1⁄2 Danish rigsdaler = 1⁄4 Norwegian speciedaler = 1 Swedish riksdaler riksmynt.
