This division into colours has its roots in history. The series is therefore divided into three sequences, each with its own metal colour. The design of the coin series is intended to ensure that the coins are easy to distinguish from each other: Coins Alloys and colour schemeĪn aluminium bronze 10-kroner coin (2011- series) Historically, Greenland under the colonial administration issued distinct banknotes between 18, together with coins between 19 (see Greenland rigsdaler and Greenland krone). ![]() ![]() Still, Greenland continues to use Danish kroner as sole official currency. In the autumn of 2010, a new Greenlandic government indicated that it did not wish to introduce separate Greenlandic banknotes and Danmarks Nationalbank ceased the project to develop a Greenlandic series. The Act entered into force on 1 June 2007. Greenland adopted the Act on Banknotes in Greenland in 2006 with a view to introducing separate Greenlandic banknotes. The Faroe Islands uses a localized, non-independent version of the Danish krone, known as the Faroese króna pegged with the Danish krone at par, using the Danish coin series, but have their own series of distinct banknotes, first being issued in the 1950s and later modernized in the 1970s and the 2000s. Main articles: Faroese króna and Greenlandic krone A further devaluation in 1967 resulted in rates of 7.5 kroner = 1 dollar and 18 kroner = 1 pound. Within the Bretton Woods System, Denmark devalued its currency with the pound in 1949 to a rate of 6.91 to the dollar. Following the end of the German occupation, a rate of 24 kroner to the British pound was introduced, reduced to 19.34 (4.8 kroner = 1 US dollar) in August the same year. Between 19, the krone was tied to the German Reichsmark. Denmark, Sweden and Norway all decided to keep the names of their respective and now separate currencies.ĭenmark returned to the gold standard in 1924 but left it permanently in 1931. The Scandinavian Monetary Union came to end in 1914 when the gold standard was abandoned. The three currencies were on the gold standard, with the krone/krona defined as 1⁄ 2480 of a kilogram of pure gold. The parties to the union were the three Scandinavian countries, where the name was krone in Denmark and Norway and krona in Sweden, a word which in English literally means crown. The introduction of the new krone was a result of the Scandinavian Monetary Union, which came into effect in 1873 (with the coins being adopted two year later) and lasted until World War I. Consequently, banknotes were increasingly used instead of coins. The latter part of the 18th century and much of the 19th century saw expanding economic activity and thus also a need for means of payment that were easier to handle than coins. This placed the krone on the gold standard at a rate of 2480 kroner = 1 kilogram fine gold. It replaced the rigsdaler at a rate of 2 kroner = 1 rigsdaler. A new krone was introduced as the currency of Denmark in January 1875. Until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. Ī Danish silver two rigsdaler piece of 1868, with the portrait of Christian IX. in connection with compulsory substitutions where the value of the new coins received did not match that of the old coins handed in. In addition, taxes were sometimes imposed via the coinage, e.g. The coinage was based on silver, but to give the kings – and thus the state – an easy source of income, the metal value was gradually reduced, and thus did not correspond to face value. For almost 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait. Lund was the principal minting place and one of Denmark's most important cities in the Middle Ages, but coins were also minted in Roskilde, Slagelse, Odense, Aalborg, Århus, Viborg, Ribe, Ørbæk and Hedeby. ![]() The first actual organised coinage was created by Knud den Store (Canute the Great) in the 1020s. The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. One krone is subdivided into 100 øre (from the Latin aureus. The currency is sometimes referred to as the "Danish crown" in English (since krone literally means crown in Danish). Both the ISO code "DKK" and currency sign "kr." are in common use the former precedes the value, the latter usually follows it. code: DKK) has been the official currency of Denmark, Greenland and the Faroe Islands, since 1 January 1875. ![]() The krone (plural: kroner sign: ,- or kr.
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