5 daler kopparmynt, Stockholms banco, 1662

This is one of Europe’s oldest surviving modern-style banknotes, known as a credit note. Credit notes were issued between 1661 and 1666, but no notes from the first year of issue have survived.

This banknote was issued by Stockholms banco, whose director, Johan Palmstruch, wanted to replace the large plate coins with banknotes right from the outset because they were easier to handle. When coins were scarce, therefore, the solution was to issue these credit notes.

As with modern banknotes, the value of the banknote is guaranteed only by the credibility of whoever issued it. Another similarity with today’s banknotes is that they have a fixed denomination, in this case 5 daler kopparmynt.

Image rights: Stockholms banco, Ekonomiska museet - Kungliga myntkabinettet/SHM (PDM)

Object number: 801693_KMK

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