This is the second part to my tour of the Cultural History Museum in Oslo, Norway.
Part I can be found here. Part II documents the first coins minted in Norway. I have translated portions of the exhibit and included photos of the best examples of coins under each section. Happy Holidays everyone!
Holy King Olaf Haraldsson, (995 -- July 29, 1030) was King of Norway from 1015 to 1028. St. Olaf minted three types of silver pennings. Like his predecessor, Olav Haraldsson also based his coins on Anglo-Saxon examples. A copy of his earliest penning type is punched on a square flan, resulting in a higher weight. Perhaps this coin compares to the Arab dirhams in value? St. Olav's other coins have about the same weight as contemporary Anglo-Saxon coins.
Norway's establishment of a national currencyThe issuing of coins had economic importance first under Harald HardrĂ¥de, king from 1047-1066. Harald had a diverse background. He was in the service of Emperor of Byzantium, and at the court of Constantinople (later Istanbul) he met a community with a regulated monetary system. Harald brought great wealth back to Norway, where he became sole king in 1047.
His 20 years as king was represented by a trifoil symbol on the obverse. This is also called a"trinity mark," but what it symbolized in Harald's time, we do not know for sure. The coins were minted in Trondheim and at Hamar. On some coins we find the coin master Olafr a Hamri "Olav in Hamar." This is a rare European example of a national language on coins, while Latin remained the official language.
Harald introduced a Norwegian penning standard. The starting point was the old Norwegian Mark (214-215 g) where the penning was valued at 1/240 Mark. The weight is less than 0.9 grams, but the silver content was ever important for the coin's value. Under Harald, the silver content was reduced to about one-third. Such debasement was noticed by the people.
Harald's monetary policyThe authority to mint coins was an important source of income for the kings. In order that the income should be secured, the king ensured that only his own coins were used in the kingdom. Harald Hardrada prohibited the once commonly-used foreign coins in Norway. Coin caches from the period shows this clearly: Anglo-Saxon and German pennies dominate until the middle of 1000 A.D., then disappear completely. Back is Harald's own trifoil coin with only one-third silver. People protested against the devaluation. The saga collection of
Morkinnskinna tells the story of Iceland's Halldor Snorresson who refused to accept Harald's coins as payment, because they were mostly copper, at best only half silver.
Posted 12/28/2011 04:32 am
