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Denmark / 20 Products

The Kingdom of Denmark is the area over which the monarch of Denmark is the head of state. It constitutes metropolitan Denmark—the Nordic country found in the center of Northern Europe—and two autonomous regions: Faroe Islands in North Atlantic and Greenland in North America. Metropolitan Denmark is the southernmost Scandinavian country, lying south and southwest of Sweden, south of Norway, and north of Germany. 

Though Denmark has a small territory and population, it played a notable role in European history. The Danes and other Scandinavian countries changed European society when the Vikings ravaged and ruled many territories in the region. During the Middle Ages, the Danish crown governed northwestern Europe through the Kalmar Union. With its geographical conditions and strong maritime history, Denmark established trading alliances with northern and western Europe, United States, and beyond. 

Trade in western Asian Minor introduced the concept of coins in Denmark. The first Danish coin is the Svend Tveskæg (Sweyn Forkbeard) coin from 995. Svend Tveskæg was the first Danish ruler to have his name on a coin. Though archeologists have found coins dating back earlier than 995, the Svend Tveskæg coin is still deemed the first official Danish coin because it is the first Danish coin to bear the name of the king and the country. 

The earliest systematic minting was introduced by Harald Bluetooth in the late 10th century. Organized minting was introduced on a larger scale by Canute the Great in the 1020s. In the Middle Ages, Lund was the principal minting place. Coins were also minted in Roskilde, Slagelse, Odense, Aalborg, Århus, Viborg, Ribe, Ørbæk and Hedeby.

Danish coinage was based on the Carolingian silver standard. Conversions were 12 penning to a skilling, 20 skilling to a pound, and 16 skilling to a mark. 

Clear references to the monarchy have been included on the coins. The King was responsible for issuing coins, and by making him a guarantor of the value of the coin. Several different currency systems were used by Denmark from the 16th to 19th centuries. In general, the schlecht daler and the rigsdaler were used. 

Denmark now uses the krone as the official currency. The krone was one of the several currency systems used in Denmark, existing as early as 1513. It was introduced as the official currency on 01 January 1875, replacing the rigsdaler at a rate of 2 kroner to 1 rigsdaler.  The krone was placed on the gold standard at a rate of 2,480 kroner to 1 kilogram of fine gold. 

Denmark left the gold standard in 1931. During the German occupation, the krone was pegged to the German Reichsmark. Following the end of the occupation, the krone was pegged to the British pound at a rate of 24 kroner to a British pound. Currently, the Danish krone is pegged to the euro. 

For the past 1,000 years, the monarch—and later, the state— has had exclusive rights to issue coins. The government is still responsible for minting coinage under the Danish Coinage Act.

In 1975, the government transferred the Royal Danish Mint to Dansmark Nationalbank (the National Bank of Denmark), along with production and administrative tasks. The National Bank produced ‘in-house’ coins from 1975 to 2016, after which production was outsourced. However, the National Bank still has issuing authority over coins.

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