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Encyclopedia > Swedish riksdaler

The Riksdaler was the name of the currency used in Sweden until 1873 when it was replaced with the krona as an effect of the Scandinavian Monetary Union. 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 and Norway, respectively. 1873 was a common year starting on Wednesday (see link for calaber). ... This article is about the Swedish unit of currency. ... The Scandinavian Monetary Union (Swedish: Skandinaviska myntunionen, Danish: Skandinaviske møntunion) was a monetary union formed by Sweden and Denmark on May 5, 1873 by fixing their currencies against gold at par to each other. ... The dollar (represented by the dollar sign: $) is the name of the official currency in several countries, dependencies and other regions. ... Examples of German and Austrian thalers compared to a US quarter piece The Thaler was a silver coin used throughout Europe for almost four hundred years. ... The Reichsthaler began as a subsidiary denomination to the Conventionsthaler, introduced in the Holy Roman Empire in 1754. ... The rijksdaalder was an 18th century Dutch coin worth 2½ gulden or 50 stuiver. ... The Rigsdaler was the unit of currency used in Denmark until 1873 and in Norway until 1816. ... Austria-Hungary, also known as the Dual monarchy (or: the k. ...


The daler was the most common currency in Sweden from the early 17th century. Each daler was divided into 4 mark, each of 8 öre, whilst the öre was divided into 24 penningar, or pennies. During the Thirty Years War daler were issued in both copper and silver. As silver became scarce, the silver daler rose in value relative to the copper daler, with the exchange rate between the two would eventually stabilizing at a ratio of 3 to 1. Later, the Riksdaler ("daler of the Realm") was introduced at a value of three silver daler (nine copper daler). Coins were issued showing values in both silver money (S.M.) and copper money (K.M.). (16th century - 17th century - 18th century - more centuries) As a means of recording the passage of time, the 17th century was that century which lasted from 1601-1700. ... The word mark (from an apparently non-Teutonic word found in all Teutonic and Romance languages, and Latinized as marca or marcus) originally expressed a measure of weight only for gold and silver, commonly used throughout western Europe and equivalent to 8 oz (ounces). ... The victory of Gustavus Adolphus at the Battle of Breitenfeld (1631) The Thirty Years War was a conflict fought between the years 1618 and 1648, principally in the central European territory of the Holy Roman Empire, but also involving most of the major continental powers. ... Rike is the Swedish and Norwegian word for realm, of similar meaning as German reich, in Danish spelled rige. ...


In 1776 the old currency was exchanged for a new national currency based on the Riksdaler. One Riksdaler was equal to 48 skillingar or schillings (worth two old öre) and each skilling was divided into 16 runstycken or runes. The Riksdaler was issued both in banknotes (fiat money) and silver coin. At first, only the Bank of the Riksdag of the Estates or Riksens ständers bank, could issue banknotes, but in 1789 the Debt office or Riksgäldskontoret was started and given the right to issue its own banknotes. The Riksdaler Specie was minted in silver, the Riksdaler Banco was issued by the Bank of Sweden and the Riksdaler Riksgälds was issued by the Debt Office. This article is about the year 1776. ... Fiat money or fiat currency, is money such as paper money, that is current or legal tender as satisfaction for money debts by government fiat, that is by artificial law. ... A bank is an institution that provides financial service, particularly taking deposits and extending credit. ... The Riksdag of the Estates, or Ståndsriksdagen, was the name used for the Estates of the Swedish realm, or Rikets ständer, when they were assembled. ... 1789 was a common year starting on Thursday (see link for calendar). ... The Swedish National Debt Office or Riksgäldskontoret founded by the Riksdag of the Estates in 1789, is a Government Agency in Sweden. ...


The Riksdaler Specie was protected against inflation through its connection to silver but the banknotes suffered heavily from a seigniorage induced inflation. In 1834, the exchange rates were fixed at one Riksdaler Specie = 2 2/3 Riksdaler Banco = 4 Riksdaler Riksgälds. The Riksens Ständers Bank also issued copper coins, whose value had fallen (relative to silver) in line with the bank's paper money. There were therefore 128 bank skillingar to the Riksdaler Specie and these became the new standard subdivision of the Riksdaler Specie in 1834, carrying the name Skilling Banco. Seigniorage, also spelled seignorage or seigneurage, is the net revenue derived from the issuing of currency. ... 1834 was a common year starting on Wednesday (see link for calendar). ...


In 1855 two reforms took place, the introduction of the Riksdaler Riksmynt and the change to a decimal system. One Riksdaler Specie was equal to 4 Riksdaler Riksmynt which was divided into 100 öre. The Scandinavian Monetary Union replaced the Riksdaler Riksmynt in 1873 with a new currency, the krona. This currency was also adopted in Denmark and Norway. 1855 was a common year starting on Monday (see link for calendar). ... The Scandinavian Monetary Union (Swedish: Skandinaviska myntunionen, Danish: Skandinaviske møntunion) was a monetary union formed by Sweden and Denmark on May 5, 1873 by fixing their currencies against gold at par to each other. ... 1873 was a common year starting on Wednesday (see link for calaber). ... This article is about the Swedish unit of currency. ...


Riksdaler is still used as slang for kronor in Sweden.


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