Coins become commonplace

The display case shows a selection of coins minted between 1290 and 1623. The coins from the Middle Ages are placed in chronological order and can be seen on the left of the display case. The coins from Gotland are placed separately, because Gotland had its own mint. Gotland was Swedish until 1361 and then belonged to Denmark for the rest of the period. To the right are the coins from the period 1523-1623. The display case shows a selection of first gold coins and then silver coins. The selection is based on getting a spread of denominations and minting locations that link to the various rulers of the time.

In 1290, King Magnus Birgersson “Ladulås” (1275-1290) died and Birger Magnusson (1290-1318) became King of Sweden. At this time, several events occurred that had a major impact on coinage in the country. A uniform coinage system was introduced, meaning that coins of the same weight and size were minted throughout the whole country. Furthermore, the country moved from minting only one-sided coins to also minting coins with an obverse (front) and a reverse (back).

In the 1370s, under King Albrecht of Mecklenburg (1364-1389), a new denomination, the örtug, was minted. Between 1396 and 1523, Sweden was part of the Kalmar Union with Denmark and Norway. It was a politically and economically turbulent time that ended with Gustav Vasa becoming King of Sweden. At the beginning of his reign, the king struggled with the country’s weak economy, partly due to a debt to Lübeck. Under Gustav Vasa, several new denominations were introduced, including international trade coins such as the daler and mark. The coins were to contain as little silver as possible, without risking inflation. In 1568, Sweden’s first gold coin was minted under King Erik XIV.

A few decades later, Sweden experienced its highest inflation ever – over 800%. The high inflation lasted between 1591 and 1592 and was mainly the result of Sweden overspending. The country was obliged to pay fines under a peace treaty with Denmark while waging a costly war against Russia. In addition, several expensive castles were built, including in Stockholm, Kalmar and Vadstena. All this meant that for some years the crown’s income was lower than its expenditure. The king therefore began to dilute the silver in the coins and mix it with copper.

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