öre, Stockholm, Johan III, 1569

When this coin was struck in 1569, the Seven Years' War was still going on, with Sweden on one side and Denmark, Lübeck and Poland on the other.

But the following year, peace was made with Denmark. Sweden had to pay 150,000 daler silver coins, the Älvsborg ransom, to regain Älvsborg, which was Sweden's only harbour in the west. The ransom was to be paid within three years. To raise the money, a tax based on the individual's assets was levied for the first time in Swedish history.

The silver content of the coin is 10.5 per cent according to the 1569 Coinage Ordinance. At the end of Johan's reign, in 1592, the silver content of ½ öre coins was only 1.8 per cent.

Image rights: Helena Bonnevier, Ekonomiska museet - Kungliga myntkabinettet/SHM (CC BY 4.0)

Object number: 107646_KMK

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