Therigsdaler specie was a unit of silver currency used inNorway from 1544, renamed as thespeciedaler in 1816 and used until 1873. Norway used a commonreichsthaler currency system shared withDenmark,Hamburg andSchleswig-Holstein until 1873 when thegold standard was implemented inScandinavia and theGerman Empire.
The reichsthaler currency system used in Northern Europe until 1873 consisted of the silverReichsthaler specie (Rigsdaler specie) worth 120skillings in Norway and Denmark, and the lower-valuedRigsdaler courant worth4⁄5th of specie or 96skillings (both units worth 60 and 48schellingen, respectively, in Hamburg and Schleswig-Holstein). TheHamburg Bank equated 91⁄4 reichsthalers specie to aCologne Mark of fine silver, hence 25.28 g silver in arigsdaler specie.
In the late 18th and early 19th centuries, coins were issued in denominations of 1, 2, 4, 8 and 24 skilling,1⁄15,1⁄5,1⁄3,1⁄2,2⁄3 and 1 rigsdaler specie.
In 1695, government notes were issued for 10, 20, 25, 50 and 100 rigsdaler (spelt rixdaler).[1] In 1807, notes were reintroduced by the government, in denominations of 1, 5, 10 and 100 rigsdaler courant, with 12 skilling notes added in 1810.[1] In 1813, Rigsbankens Norske Avdeling began issuing notes.[1] in denominations of 1, 5, 50, and 100 Rigsbankdaler.[2] Subsequent series were issued by Norges Midlertidige Rigsbank (1814), Stattholderbevis (1815), and Norges Bank (1817–22 to the present).[3]
After theNapoleonic Wars Denmark dropped out of the system described above in favor of a lower-valuedDanish rigsdaler. However Norway retained the system even after itsunion with Sweden, renaming the specie coin as theSpeciedaler but still divided into 120skillings.
It was replaced by theNorwegian krone when Norway joined theScandinavian Monetary Union. An equal valued krone/krona of the monetary union replaced the three currencies at the rate of 1 krone/krona =1⁄2Danish rigsdaler =1⁄4 Norwegian speciedaler = 1Swedish riksdaler.
In 1816, coins in circulation from the previous currency remained in circulation, with only 1 skilling coins being minted. A new coinage was introduced in 1819, consisting of copper 1 and 2 skilling and silver 8 and 24 skilling,1⁄2 and 1 specidaler. Silver 2 and 4 skilling coins were introduced in 1825, followed by copper1⁄2 skilling pieces in 1839, silver 12 skilling in 1845 and silver 3 skilling in 1868.It was made out of Iron.
Norges Bank began issuing notes in 1817, with denominations of 24 skilling,1⁄2, 1, 5, 10, 50 and 100 speciedaler.
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