Coin reform – 5-øre and 10-øre coins taken out of circulation
A much needed coin reform was initiated in 1989. Among other things it removed the two smallest coins, the 5-øre and 10-øre coins, from circulation, since their purchasing power had become negligible and they had become too expensive to produce. It cost approximately 8 øre to mint a 5-øre, and around 20 øre to mint a 10-øre coin. The time had also come to replace the smallest note, the 20-krone note, with a coin. The note was no longer of sufficient value for it to be treated with care, and its circulation life was therefore very short. The objective was to achieve a coherent, well-functioning coin series in which each coin was easy to place in the series and the coins could easily be distinguished from each other.
Last update: 05/09/2011
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Coin reform – 5-øre and 10-øre coins taken out of circulation
