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First Danish banknotes

Banknotes first became part of the Danish money supply in the years 1713-28. The huge costs of rearming during the Great Nordic War swept coins away to abroad. In order to facilitate trade "authorized banknotes" were issued. The banknotes were to have the same value as coins, but could not be exchanged for coins. Danes did not trust this paper money and its value therefore soon fell to below the coin value. The banknotes were withdrawn again in 1728.

Picture of the first authorised banknotes

Picture of the first authorised banknotes

Last update: 07/02/2008

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