Riksdaler (Schweden)
Query URLs
https://term.museum-digital.de/md-de/tag/35040
- Note
- The riksdaler was the name of a Swedish coin first minted in 1604. Between 1777 and 1873, it was the currency of Sweden. The daler, like the dollar, was named after the German Thaler. The similarly named Reichsthaler, rijksdaalder, and rigsdaler were used in Germany and Austria-Hungary, the Netherlands, and Denmark-Norway, respectively. Riksdaler is still used as a colloquial term for Sweden’s modern-day currency.
In 1776, a new currency system was announced, which came into use at the beginning of 1777. The new currency was based on the riksdaler subdivided into 48 skilling (worth two old öre, sometimes spelled schilling with the plural schillingar), with each skilling further subdivided into 12 rundstycken. Pre-existing copper coins were halved in value and only the most recent silver coins retained their face values.
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 Contor (Swedish National Debt Office) was established and given the right to issue its own banknotes. The riksdaler specie was minted in silver, the riksdaler banco was issued by the Bank and the riksdaler riksgälds was issued by the Debt Office. Both the Bank and Debt Office issued copper coins.
The riksdaler specie was protected against inflation through its connection to silver but the banknotes suffered heavily from a seigniorage induced inflation. In 1803, the values of the two paper moneys were tied, with 1 riksdaler banco = 1 1⁄2 riksdaler riksgälds. In 1830, the exchange rate to the silver coinage was also fixed, with 1 riksdaler specie = 2 2⁄3 riksdaler banco = 4 riksdaler riksgälds. The value of the copper coins of the Riksens Ständers Wexel-Banco fell (relative to silver) in line with the bank’s paper money. Thus, from 1830, there were 128 bank skilling to the riksdaler specie and these became the new standard subdivision of the riksdaler specie in 1834, carrying the name skilling banco. -(en wikipedia 25.03.2019)
https://en.wikipedia.org/wiki/Swedish_riksdaler
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