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1776 Sweden Riksdaler - NGC XF-45
Zohar
Posts: 6,629 ✭✭✭✭✭
I liked the date, design, toning and price so I picked it up even though it is out of my area of focus, Talers.
Will keep for now and perhaps trade for Taler later on.
Denomination:Riksdaler
Mint Authority:King Gustav III of Sweden
Year of Issue:1776
Weight (g):29.31
Material:Silver
In the 17th and 18th centuries, Sweden suffered from a constant lack of money. That is why in 1715, a small, valueless copper credit coin was issued, that nominally equaled 1 silver daler. Over the next four years, some 40 million of these credit coins were issued.
The government's original plan had been to replace the credit dalers every year with silver coins. This ceased after 1717, however. 1719, the credit daler's value was reduced to half, of which 2 öre were paid out in hard cash immediately, while the rest (14 öre) was paid in paper money. In the 18th century, the Swedish monetary circulation thus comprised mainly worthless copper coins and paper money.
Eventually, the long looked-for change came with the reign of King Gustav III, who in 1776 reestablished a silver currency in Sweden. All coins minted before 1770 were demonetized, and the issue of the large copper plate coins came to an end. From now on, the Swedish monetary system was based on the silver riksdaler of 48 skilling.
Will keep for now and perhaps trade for Taler later on.
Denomination:Riksdaler
Mint Authority:King Gustav III of Sweden
Year of Issue:1776
Weight (g):29.31
Material:Silver
In the 17th and 18th centuries, Sweden suffered from a constant lack of money. That is why in 1715, a small, valueless copper credit coin was issued, that nominally equaled 1 silver daler. Over the next four years, some 40 million of these credit coins were issued.
The government's original plan had been to replace the credit dalers every year with silver coins. This ceased after 1717, however. 1719, the credit daler's value was reduced to half, of which 2 öre were paid out in hard cash immediately, while the rest (14 öre) was paid in paper money. In the 18th century, the Swedish monetary circulation thus comprised mainly worthless copper coins and paper money.
Eventually, the long looked-for change came with the reign of King Gustav III, who in 1776 reestablished a silver currency in Sweden. All coins minted before 1770 were demonetized, and the issue of the large copper plate coins came to an end. From now on, the Swedish monetary system was based on the silver riksdaler of 48 skilling.
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