How many older banknotes and 1000-krone banknotes are in circulation?
Danmarks Nationalbank calculates banknote circulation, which is the difference between the banknotes issued by the bank at any given time and those received at any given time.
In the first four months, since Danmarks Nationalbank announced that old banknotes and current 1000-krone banknotes will stop being legal tender from 31 May 2025, the total value of received bank notes from those series amount to kr. 9.3 billion. As of 31 March 2024, the total value of banknotes still in circulation from those series is kr. 15.1 billion.
In March 2024, the circulation of old banknotes (older than the current series from 2009 with bridges and ancient finds) was reduced by approx. kr. 64 million. As of 31 March 2024, the remaining circulation of old banknotes amounts to kr. 3.1 billion.
The circulation of 1000-krone banknotes in the current series was reduced by kr. 1.7 billion in March 2024, following a drop of 2.3 billion the previous month. As of 31 March 2024, the remaining circulation of 1000-krone banknotes amounts to approx. kr. 12.0 billion.
Calculated as of 31 March 2024:
| Kr. million | 31.3.2024 | 29.2.2024 | 30.11.2023 | Change latest month | Change since 30.11.2023 |
| Substitution series (1944) | 14.8 | 14.8 | 20.4 | 0.0 | -5.5 |
| Portraits and landscapes (1952) | 98.5 | 98.5 | 99.6 | 0.0 | -1.1 |
| Portraits and animals (1972) | 893.9 | 894.4 | 897.3 | -0.5 | -3.4 |
| Portraits and church art (1997) | 2,137.0 | 2,200.7 | 2,386.1 | -63.7 | -249.2 |
| Total older series | 3,144.2 | 3,208.4 | 3,403.4 | -64.1 | -259.2 |
| 1000-krone banknotes (2009 series) | 11,978.5 | 13,704.8 | 21,058.9 | -1,726.2 | -9,080.4 |
| Million units | 31.3.2024 | 29.2.2024 | 30.11.2023 | Change latest month | Change since 30.11.2023 |
| Substitution series (1944) | 0.1 | 0.1 | 0.8 | 0.00 | -0.71 |
| Portraits and landscapes (1952) | 5.1 | 5.1 | 5.2 | 0.00 | -0.11 |
| Portraits and animals (1972) | 15.4 | 15.4 | 15.4 | 0.00 | -0.02 |
| Portraits and church art (1997) | 9.1 | 9.2 | 9.5 | -0.08 | -0.31 |
| Total older series | 29.7 | 29.8 | 30.9 | -0.08 | -1.15 |
| 1000-krone banknotes (2009 series) | 12.0 | 13.7 | 21.1 | -1.73 | -9.08 |
You can see trends in total banknote circulation in Danmarks Nationalbank's StatBank.
Why do older banknotes become invalid?
Danmarks Nationalbank wants to ensure that Danish banknotes are secure and efficient means of payment now and in the future. Today, all banknotes issued from 1945 onwards are legal tender, but they cannot all be used in the same way. This could risk damaging confidence in cash.
- Paying with older banknotes may be difficult, as store staff and private individuals may not recognise them and may therefore be unwilling to accept them.
- Banknotes issued from 1997 onwards can be used in ATMs and the closed cash systems of the retail trade. This is not the case for pre-1997 banknotes.
Why will the current 1000-krone banknote become invalid?
The 1000-krone banknote is not needed to support secure and efficient payments in Denmark – both because cash is being used less and less, and because cash payments generally involve quite small amounts. Furthermore, anti-money laundering rules limit the size of cash payments.
In addition, phasing out the 1000-krone banknote may entail certain advantages, such as reducing the need for stores to keep change. Furthermore, although the number of counterfeit Danish banknotes remains low, the 1000-krone banknote is increasingly subject to attempts at counterfeiting.
Finally, the police estimate that the 1000-krone banknote is used to a greater extent than other banknotes to support various types of financial crime.
Does this development mean that cash will soon disappear completely?
Danmarks Nationalbank does not expect cash to disappear. We know that there are many citizens who prefer to pay with cash for various reasons, and some citizens also depend on being able to use cash.
Will older coins also become invalid?
The older coins will not become invalid. The focus is on the older banknotes, which represent a larger amount. But if you have old coins at home, you can deposit them into your account together with your banknotes.
FAQs
Below you will find answers to the questions we most often receive in connection with older banknotes and the 1000-krone banknote from the current series no longer being legal tender.