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44-457: In 1988 Landsverkfrøðingurin (the national office of public works) carried out a number of seismic investigations in Leirvíksfjørður (the strait between Eysturoy and Borðoy). A year earlier, an engineer had drawn up an overall plan showing alternative sites for constructing tunnels. Further surveys in 1988 confirmed that the tunnel plans were considered to be economically viable. In 2003, after

88-399: A skilling and 20 skilling to a pound; later on, 16 skilling to a mark . The metal content of minted coins was subject to debasement over the centuries, an easy way to generate income for the monarch and/or the state. Taxes were sometimes imposed via the coinage, such as by the compulsory substitution of coins handed in by new coins handed out with a lower silver content. As a result of

132-470: A need for means of payment that were easier to handle than coins. Consequently, banknotes were increasingly used instead of coins. The introduction of the new krone was a result of the Scandinavian Monetary Union , which came into effect in 1873 (with the coins being adopted two years later) and lasted until World War I . The parties to the union were the three Scandinavian countries, where

176-410: A view to introducing separate Greenlandic banknotes. The Act entered into force on 1 June 2007. In the autumn of 2010, a new Greenlandic government indicated that it did not wish to introduce separate Greenlandic banknotes and Danmarks Nationalbank ceased the project to develop a Greenlandic series. Still, Greenland continues to use Danish kroner as sole official currency. Historically, Greenland under

220-540: Is a stub . You can help Misplaced Pages by expanding it . Danish krones The krone ( Danish: [ˈkʰʁoːnə] ; plural: kroner ; sign : kr. ; code : DKK ) is the official currency of Denmark , Greenland , and the Faroe Islands , introduced on 1 January 1875. Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter in some contexts follows it. The currency

264-597: Is sometimes referred to as the Danish crown in English , since krone literally means crown . Krone coins have been minted in Denmark since the 17th century. One krone is subdivided into 100 øre ( Danish pronunciation: [ˈøːɐ] ; singular and plural), the name øre is probably derived from the Latin word for gold. Altogether there are eleven denominations of the krone, with

308-640: Is voluntary , thus avoiding euro adoption for the time being). The Faroe Islands uses a localised, non-independent version of the Danish krone, known as the Faroese króna pegged with the Danish krone at par, using the Danish coin series, but have their own series of distinct banknotes, first being issued in the 1950s and later modernised in the 1970s and the 2000s. Greenland adopted the Act on Banknotes in Greenland in 2006 with

352-495: The Hamburg Bank equated 9 1 ⁄ 4 reichsthalers specie to a Cologne Mark of fine silver, hence 25.28 g silver in a rigsdaler specie . Following the Danish state bankruptcy of 1813 , Denmark dropped out of the currency system above, in favor of a new rigsbankdaler reduced to 1 ⁄ 2 a Rigsdaler specie . The new rigsbankdaler was exchanged for 6 rigsdaler courant in banknotes which were severely devalued during

396-465: The Napoleonic Wars . 96 skilling made one rigsbankdaler and 192 skilling made one Rigsdaler specie of 25.28 g fine silver. In 1854 the rigsdaler species name disappeared and the names rigsbankdaler and rigsbank skilling became rigsdaler and skilling rigsmønt . Thus, there were 96 skilling rigsmønt to the rigsdaler. In 1873, Denmark and Sweden formed the Scandinavian Monetary Union and

440-549: The Netherlands , respectively. These currencies were often anglicized as rix-dollar or rixdollar . Several different currency systems have been used by Denmark from the 16th to 19th centuries. The krone (lit. "crown") first emerged in 1513 as a unit of account worth 8 marks. The more generally used currency system until 1813, however, was the Danish rigsdaler worth 1 1 ⁄ 2 krone (or schlecht daler ), 6 marks , or 96 skilling . The Danish rigsdaler used in

484-433: The debasement , the public started to lose trust in the respective coins. Danish currency was overhauled several times in attempts to restore public trust in the coins, and later issued in paper money. Several different currency systems have been used by Denmark from the 16th to 19th centuries. The krone (lit. "crown") has existed as early as 1513 as a unit of account worth 8 marks. In more general use until 1813, however,

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528-599: The 1000-krone note, too, can be referred to as a tudse (toad) taken from a wordplay on the word tusinde meaning a thousand . The 1000-krone note may also be referred to as an egern (squirrel) because the 1972 series version of the note featured a squirrel. Danish rigsdaler The rigsdaler was the name of several currencies used in Denmark until 1875. The similarly named Reichsthaler , riksdaler and rijksdaalder were used in Germany and Austria-Hungary , Sweden and

572-548: The 18th century was a common system shared with the silver reichsthalers of Norway , Hamburg and Schleswig-Holstein . The currency system consisted of the Reichsthaler specie ( Rigsdaler specie ) worth 120 skillings in Denmark and Norway, and the lower-valued Rigsdaler courant worth 4 ⁄ 5 th of specie or 96 skillings (both units worth 60 and 48 schellingen , respectively, in Hamburg and Schleswig-Holstein). In 1770

616-485: The 1990s Faroese economic crisis, work began on boring the tunnel between Eysturoy and Borðoy. The official opening of the tunnel was on April 29, 2006. Traffic has steadily increased from 662,828 vehicles in 2007 to 1,308,519 in 2019 (3,585 per day). The project cost 395 million Danish kroner and is expected to be repaid by 2021. 62°12′29″N 6°40′55″W  /  62.208°N 6.682°W  / 62.208; -6.682 This Faroe Islands location article

660-585: The Faroe Islands and Greenland. The last coin depicting the Copenhagen City Hall was issued in June 2007, marking the end of the series. A second series of 20-krone coins, starting in 2007 with twelve different planned motifs and ten already released by November 2011, shows Denmark as a maritime nation in the world, featuring iconic Danish, Faroese and Greenlandic ships and like the previous series of tower coins,

704-528: The Schilling Courant, of which there were 60 to the Speciethaler , equal to the rigsdaler species. These denominations were 1 + 1 ⁄ 4 , 2 + 1 ⁄ 2 , 5, 10 and 30 Schilling Courant. The renaming of the currency units in 1854 lead to the issuing of coins for 1 ⁄ 2 , 1, 4 and 16 skilling rigsmønt, 1 and 2 rigsdaler. Gold "d'or" coins continued to be issued (see above). In 1713,

748-404: The coins are easy to distinguish from each other: The series is therefore divided into three sequences, each with its own metal colour. This division into colours has its roots in history. In earlier times, the value of the coins was equivalent to the value of the metal from which they were minted: gold was used for the coins of the highest denominations, silver for the next-highest, and copper for

792-419: The colonial administration issued distinct banknotes between 1803 and 1968, together with coins between 1926 and 1964 (see Greenland rigsdaler and Greenland krone ). Faroe Islands and Greenland have their own IBAN codes (FO and GL, while Denmark has DK). Transfers between the countries count as international with international fees, outside EU rules. The design of the coin series is intended to ensure that

836-406: The diameter and weight of the coins increase with their value. The 50 øre and 10 krone coins have smooth rims, while the rims of the 1 and 5 krone coins are milled. The rims of the 2 and 20 krone coins have interrupted milling. The 1, 2 and 5 krone coins have a hole in the middle. Use of these various characteristics makes it easy for the blind and sight-impaired to tell the coins apart. The coins of

880-597: The fairy tale series ended, a second series of three 10-krone commemorative coins was introduced, celebrating the International Polar Year . Featuring motifs of a polar bear, the Sirius Sledge Patrol and the Aurora Borealis , the coins aimed to accentuate scientific research in the backdrop of Greenlandic culture and geography. The third and final coin entitled 'Northern Lights' marked the completion of

924-538: The government introduced notes for 1, 2 and 3 mark, 1, 5, 10, 25, 50 and 100 rigsdaler. The Copenhagen Assignation, Exchange and Loans Bank issued notes between 1737 and 1804 for 10, 20, 30, 40, 50 and 100 rigsdaler courant. Between 1791 and 1797, the Danish-Norwegian Specie Bank issued notes for 4, 8, 20, 40 and 80 rigsdaler specie. The treasury issued notes for 2 and 20 rigsdaler courant in 1808, followed by 8, 12 and 24 skilling notes in 1809-1810. In 1813,

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968-556: The hidden security thread. Starting in 2020, Danmarks Nationalbank released a new version of the 500-kroner banknote with updated security features, the first in the 2009A series. Updated versions of the 50-, 100-, and 200-kroner banknotes are scheduled to enter circulation in 2024–2025. The next series of banknotes is scheduled for release in 2028 and will not contain a 1000-krone banknote, which will no longer be legal tender as of 31 May 2025, with that banknote being withdrawn in order to combat and prevent money laundering. Banknotes from

1012-573: The krone and 46.8% voting to join the Eurozone. The oldest known Danish coin is a penny ( penning ) struck AD 825–840, but the earliest systematic minting produced the so-called korsmønter ( lit.   ' cross coins ' ) minted by Harald Bluetooth  in the late 10th century. Organised minting in Denmark was introduced on a larger scale by Canute the Great in the 1020s. Lund (now in Sweden)

1056-600: The last notes were printed by the National Bank. Denmark has not introduced the euro , following a rejection by referendum in 2000 , but the Danish krone is pegged closely to the euro (with the rate 7.46038±2.25%) in ERM II , the EU's exchange rate mechanism. Denmark borders one eurozone member, Germany , and one other EU member, Sweden , which is legally obliged to join the euro in the future (though Sweden maintains that joining ERM II

1100-402: The legend "rigsbanktegn" ("rigsbank token") were issued in denominations of 2, 3, 4, 6, 12 and 16 skilling. From 1818, 1, 2 and 32 rigsbank skilling coins were issued, with 1 rigsdaler species from 1820. From 1826, gold coins were issued denominated in "Frederiks d'Or" or "Christians d'Or" (depending on the name of the ruling king). The "d'or" was nominally worth 10 rigsdaler, although the currency

1144-411: The lowest coin denominations. This correlation between colour and value has been retained in the present coin series (see examples to the right). The 50 øre coins are thus minted from copper-coloured bronze, the 1, 2 and 5 krone coins from a silver-coloured cupronickel alloy, and the 10 and 20 krone coins from golden aluminium bronze. The coins differ in terms of size, weight and rim. Within each sequence

1188-453: The name was krone in Denmark and Norway and krona in Sweden , a word which in all three languages literally means ‘crown’. The three currencies were on the gold standard , with the krone/krona defined as 1 ⁄ 2480 of a kilogram of pure gold. The Scandinavian Monetary Union came to an end in 1914 when the gold standard was abandoned. Denmark, Sweden and Norway all decided to keep

1232-722: The names of their respective and now separate currencies. Denmark returned to the gold standard in 1924 but left it permanently in 1931. Between 1940 and 1945, the krone was tied to the German Reichsmark . Following the end of the German occupation, a rate of 24 kroner to the British pound was introduced, reduced to 19.34 (4.8 kroner = 1 US dollar ) in August the same year. Within the Bretton Woods System , Denmark devalued its currency with

1276-419: The new series and the 2009 series will co-circulate for a period of time and eventually only the new series of banknotes will be legal tender. The design process started in the spring of 2024, and they are scheduled to be finalised in early 2026. In September 2024, it was announced that the obverse of the banknotes would feature "important achievements and the people behind them" whereas the reverse will feature

1320-409: The past and the present. The present is represented by the bridges, the past by five distinctive prehistoric objects found near the bridges. Among the new security features is a window thread ("Motion") with a moving wave pattern. Another feature is a new, sophisticated hologram that reflects light in different colors. The new banknotes also have the traditional security features such as the watermark and

1364-553: The pound in 1949 to a rate of 6.91 to the dollar. A further devaluation in 1967 resulted in rates of 7.5 kroner. The Danish krone was minted by the Royal Mint of Denmark and banknotes were printed by the Danish National Bank until 1975, when the mint was made a subsidiary of the National Bank. In 2014, it was decided to stop minting and printing of the krone in Denmark, but the work would be outsourced, and on 20 December 2016,

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1408-402: The programme have the same size and metal composition as the regular coins of their denomination. The first series, 20-krone coins featuring towers in Denmark, ran between 2002 and 2007 and spawned ten different motifs. Upon selecting the towers, importance had been attached not only to display aesthetic towers, but also towers with different form, functions and from different regions of Denmark,

1452-476: The reverse, the banknotes were designed by Gunnar Biilmann Petersen  [ da ] , Gunnar Andersen, and Ib Andersen  [ da ] . The 1972 series featured portraits and animals, and was issued from 1975 to 1980. It was replaced in 1997. Every note had a portrait based on a painting by Jens Juel on the obverse side. The reverse featured animals designed by Ib Andersen and Gunnar Andersen. The 1997 series features portraits and church art, and

1496-451: The rigsdaler was replaced by the Danish krone on 1 January 1875. An equal valued krone/krona of the monetary union replaced the three currencies at the rate of 1 krone/krona = 1 ⁄ 2 Danish rigsdaler = 1 ⁄ 4 Norwegian speciedaler = 1 Swedish riksdaler . Because of this reform, where two Danish kroner was then of equal worth to the Danish daler, the "tokrone" coins got the common name of "daler" as they were functionally

1540-405: The same (the real daler got retired). It, however, became an increasingly-uncommon name since the "tokrone" coin did not exist from 1959 to 1993. In the late 18th century, coins were issued in denominations of 1 ⁄ 2 , 1, 2, 4, 8, 24 and 32 skilling, 1 ⁄ 15 , 1 ⁄ 4 , 1 ⁄ 3 , 1 ⁄ 2 and 1 rigsdaler specie. Between 1813 and 1815, copper coins bearing

1584-428: The same date. Phased out banknotes will continue to be accepted by Danmarks Nationalbank until 31 May 2026. The 1944 series, known as the substitution series, was developed in secret in 1943−1944 and designed by Danish painter Gerhard Heilmann . The 1952 series featured portraits and landscapes, and was issued from 1952 to 1964. It was replaced in 1972. Featuring famous Danes on the obverse and Danish landscapes on

1628-401: The sea as a motif. The selected achievements and people are as follows: Within context, some of the banknotes have figurative meanings with the 100-krone note sometimes referred to as a hund (dog) shortening the word hundrede (a hundred). The 500-krone note can be referred to as a plovmand (ploughman) because previous circulations of the note featured a picture of a man with a plough and

1672-440: The series in 2009. Most Danish banknotes (with a few exceptions) issued after 1945 are valid as payment. Banknotes have since 1945 been issued with the values: 5 kroner, 10 kroner, 20 kroner, 50 kroner, 100 kroner, 200 kroner, 500 kroner, and 1000 kroner. On 30 November 2023, it was announced that all banknotes issued before 2009 will no longer be legal tender as of 31 May 2025. The 1000-kroner banknote will also be phased out on

1716-464: The series reflect various landmarks in shipbuilding in the three countries. In 2005, Danmarks Nationalbank issued the first in a series of five 10-krone commemorative coins with motifs from Hans Christian Andersen 's fairy tales. The motifs depicted on the coins were chosen to illustrate various aspects and themes central to the fairy tales with the fifth and final fairy tale coin inspired by The Nightingale being issued on 25 October 2007. In 2007, as

1760-523: The smallest being the 50 øre coin (one half of a krone ). Formerly there were more øre coins, but those were discontinued due to inflation . The krone is pegged to the euro via the ERM II , the European Union's exchange rate mechanism. Adoption of the euro is favoured by some of the major political parties; however, a 2000 referendum on joining the Eurozone was defeated with 53.2% voting to maintain

1804-502: Was a krone or schlecht daler worth 2 ⁄ 3 rigsdaler , 4 marks , or 64 skilling . The modern-day krone was introduced as the currency of Denmark in January 1875. It replaced the rigsdaler at a rate of 2 kroner = 1 rigsdaler. This placed the krone on the gold standard at a rate of 2,480 kroner = 1 kilogram fine gold. The latter part of the 18th century and much of the 19th century saw expanding economic activity and thus also

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1848-649: Was issued from 1997 to 1999. It was replaced in 2009. Illustrated by Johan Alkjær, the banknotes featured portraits of Danish artists and scientists on the obverse while the reverse had motifs of cultural and religious art. The process of designing the 'Bridge' banknotes was initiated in 2006 by Danmarks Nationalbank. The theme of the new banknotes is Danish bridges and the surrounding landscapes, or details from these landscapes. Danish artist Karin Birgitte Lund has chosen to interpret this theme in two ways: bridges as links between various parts of Denmark and as links between

1892-427: Was on a silver standard. In 1838, 1 ⁄ 2 rigsbank skilling coins were introduced. Between 1840 and 1843, a new coinage was introduced, consisting of 1 ⁄ 5 , 1 ⁄ 2 , 1, 2, 3, 4, 8, 16 and 32 rigsbank skilling, 1 rigsbankdaler and 1 rigsdaler species. Denominations between 4 rigsbank skilling and 1 rigsbankdaler were also inscribed with the denomination in the currency of Schleswig-Holstein ,

1936-579: Was the principal minting place and one of Denmark's most important cities in the Middle Ages, but coins were also minted in Roskilde, Slagelse, Odense, Aalborg, Århus, Viborg, Ribe, Ørbæk and Hedeby. For almost 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait. Danish coinage was generally based on the Carolingian silver standard , with 12 penning to

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