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From silver standard to gold standard

Germany's decision to introduce the gold standard drew greater interest in the gold standard in Denmark. Germany and the UK, Denmark's two most important trading partners, would now both have a monetary system based on gold, and to avoid exchange-rate fluctuations via the gold and silver values, it was an advantage for Denmark also to adopt the gold standard. The new Coin Act which came into force in 1875 therefore introduced gold as legal tender in Denmark. The Coin Act set a value of kr. 2,480 for 1 kg of fine gold, i.e. 1 krone corresponded to 0.403 grams of fine gold.

Last update: 05/09/2011


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