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 Replies: 63 / Views: 11,626 |
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Pillar of the Community
Sweden
1078 Posts |
Today, on the 3rd of October is the release day of the new Swedish circulation coins. The new series will consist of 1-, 2- and 5-Krona coins. The 10-Krona coin remains unchanged.  Press images of the new coinsDespite the recent talk about Sweden and cashlessness, cash is still a (no longer) big deal here in Sweden, with the big medias turning their attention to the launch. The big change here isn't only the new designs, new compositions and smaller sizes, the 2-Krona coin is getting a re-introduction. Last minted in 1971, the coin, although still legal tender, is almost completely defunct. The Riksbank claims that there are 8 millin still in circulation but the mount in active circulation is unknown. I haven't seen any myself in circulation, ever. The coin's usage is comparable to the US Half dollar and Canadian 50 Cent piece that both remain legal tender and were minted in silver up to the 1960, before the composition changed to base metal and they went out of wide circulation. However, unlike these the coins haven't been minted at all, even for collectors since its demise from circulation. Another thing that will be lost after this change is the legal tender status of the original silver coins (1- and 2-Krona) minted in silver actording to the currency act of 1873. The 1-Krona coin has been minted almost consistently since with the same dimensions, with decreasing silver content until 1968. Thus, it is still possible to find silver in circulation in Sweden. The old versions of the 1-, 2- and 5-Krona coins will be demonetized on July 1st, 2017. This leaves a 9-month parallel circulation period where the public can get used to the new coins and exchange (or simply spend) their old ones. Like my thread on the new Swedish banknotes, I will be updating this thread with circulation reports from what I see around me. |
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Pillar of the Community
 Sweden
1078 Posts |
Also similar to the launch of the banknotes event, the Riksbank will be conducting a public introduction event where one can exchange a bag of new coins of 20 SEK worth. Since the remaining new banknotes are released on this day aswell, the public can also exchange a new 100 SEK note. There will also be a public exhibition on the new coins and notes, with information and display of the new notes and coins. This event is for today only. Granted, I will be going to this event and get my own goodie bag  Pictures will follow. |
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Pillar of the Community
United States
4963 Posts |
 Keep us updated. |
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Pillar of the Community
United States
6130 Posts |
A redesign introduced 3 months before new years? That sounds like a key date to me!
Or have they made enough that there is no incentive to hoard?
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Pillar of the Community
Sweden
1078 Posts |
Quote:
A redesign introduced 3 months before new years? That sounds like a key date to me!
Or have they made enough that there is no incentive to hoard? The initial mintage is over 100 million for all three denominations. The whole mintage is aimed to replace the coins in circulation now. I suspect coming issues might be considerably rarer. Another thought I have is if the new coins will be minted consistently. Sure, the last time the 5- and 10-Krona coins were minted were in 2009, but that was when the whole currency revamp was decided. Before that, coins were minted regularily. Even so, the 1-Krona coin was minted in 2010, 2012 and 2013 during this decision period, supposedly minted because of commerical demand. Also, the initial mintage of the 2-Krona coin was actually half of that of the 1-Krona coin, suggesting we might see another large mintage of 2-Krona coins owing to demand. Either way, today's event went down smoothly with me getting my little bag of coins. It consisted of 4x 1-Krona, 3x 2-Krona and 2x 5-Krona coins.  From this bag I have removed 2 1-Krona coins for better storageThe following exhibition was interesting but had little to do with the coins. It was essentially the same exhibition from last year with little added. Still very interesting! It will be interesting to see how these circulate. For once, it will be fun to see more than one type of coins circulating! |
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Pillar of the Community
Sweden
1078 Posts |
I got a request from someone (you know who you are  ) to add comparison images. The coins that will be replaced and the new ones:   Some more known coins and the new Swedish coins:  Another thing that was brought to light a while ago was the new 5-krona coin's very similar size compared to the Danish 10-Krone coin. Both have a smooth edge and are made of a brass alloy. They aren't identical in any aspect but close.  Edited by X2an
10/05/2016 10:18 am
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Pillar of the Community
Norway
1358 Posts |
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A redesign introduced 3 months before new years? That sounds like a key date to me!
Or have they made enough that there is no incentive to hoard? Given the -again- extremely short time allowed to return all current money and exchange it for the new stuff, I guess there's enough minted to at least replace the whole current circulation. Not really a key date and as X2an indicates: future dates will be much scarcer (if minted at all). I seriously wished Sweden would allow a bit more time for all this, also for all the currency currently stocked by individuals outside Sweden to safely make its way back home. Quote:
For once, it will be fun to see more than one type of coins circulating! No you won't. There's hardly any cash circulating in Sweden anymore, so you won't actually 'see' it circulate.  Anyway, I am a tad underwhelmed by the new coins. I am happy that the 2 Krona makes a comeback, but I must say that the design looks rather boring and I'm not so happy with the choice of metal: these coins get 'dirty' pretty fast. Nevertheless, I'll make sure I get my hands on one of those sets to add to my unofficial Swedish type collection. |
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New Member
Sweden
47 Posts |
Invalid notes and jubilee coins will always be changeable by the Central Bank of Sweden (Riksbanken), 1-2-5Kr on the other hand will be scrap after July 1st, 2017 :)
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Pillar of the Community
Germany
992 Posts |
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I guess there's enough minted to at least replace the whole current circulation. Deeply buried in an environmental report (!) about the new coinage commissioned by Riksbank initial mintage figures were stated: 1kr: 279 Million 2kr: 139 Million 5kr: 107 Million @X2an: Thanks for the pictures  Edited by redlock
10/06/2016 04:55 am
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Pillar of the Community
Sweden
1078 Posts |
A little correction on my part: I vaguely remember me saying somewhere at some point that commemorative NCLT (Non-Circulating Legal Tender) coins would be demonetized along with the old coins. This isn't true. The Riksbank has launched an information campain where they have sent out leaflets with information to every household. In it they state that NCLT-coins will NOT be demonetized. Quote:
No you won't. There's hardly any cash circulating in Sweden anymore, so you won't actually 'see' it circulate. Oh no you, there are still plenty of people who use coins.  Apparently, the amount of circulating coins did not decrease much at all according to the Riksbank's statistics (up until 2015). It has actually been pretty stable.  (Billion SEK worth of coins in circulation) 5- and 10-Krona coins were minted lastly in 2009 (not counting the new coins) which make up most of the value of coins in circulation. This explains why there's no significant increase of coins in circulation between 2009 and 2015. I do think though that these statistics are based simply on the amount of coins issued and withdrawn and not coins actually circulating. Measuring that would be almost impossible. This would explain why the Riksbank thinks there are 8 million (old) 2-kronor coins still out there, circulating, despite the fact that they don't. I still haven't seen any new coins in circulation nor have I heard anything about it, but I'm still on the lookout! |
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Pillar of the Community
Germany
992 Posts |
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Pillar of the Community
Sweden
1078 Posts |
Today I walked past my local supermarket and saw some new shopping carts. After a close inspection I saw that they had changed the size of the 5-krona coin slot to that of the new one!
No signs of the new coins yet, though. I'm assuming they'll pop up very soon.
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Pillar of the Community
Sweden
1078 Posts |
They have atleast been released now, I'm seeing a large increase in Tradera (Swedish ebay) of the new coins, being described as "from rolls" and published as early as the 10th of this month. |
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Pillar of the Community
Norway
1358 Posts |
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Oh no you, there are still plenty of people who use coins. I know, I was actually mocking the 'cashless Sweden' thing a bit. But I do know that you at least need coins for a few things, like shopping carts. Although the shopping centers near the Norwegian border also eat Norwegian coins, so you may just import a few of those and use them as shopping cart tokens. The data in the graph actually indicated that there have been more coins in circulation since 2006. Or probably the amount of coins per Swede remained constant. How many of those coins for circulation would be actually stored by the Riksbank? Anyway, I would surely love to get my hands on all the circulating 2 kroner pieces. Quote:
The Riksbank has launched an information campain where they have sent out leaflets with information to every household. In it they state that NCLT-coins will NOT be demonetized. This is actually well done by the Riksbank. And also good news about NCLT, although I seriously wonder if anyone who is sound in the head ever tried to spend such a coin as legal tender... |
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Pillar of the Community
Sweden
1078 Posts |
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I was actually mocking the 'cashless Sweden' thing a bit. And don't you think I didn't get that  I have absolutely no idea how many coins are stored at the Riksbank, wherever they store it is beyond me. As for getting some 2-Kronor coins, we can probably work something out if you want, once I start getting them. Oh and one last thing: Quote:
kroner
kroner
kronEr
It's Kron Or, atleast here |
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Pillar of the Community
Norway
1358 Posts |
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As for getting some 2-Kronor coins, we can probably work something out if you want, once I start getting them. deal. I Kn0w0r that it's Kr0n0r in Sweden, which sounds very H4xx0r. Here we have kroner and it's just too easy to mindlessly slip in the spelling I'm known to. |
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Replies: 63 / Views: 11,626 |
Posted 10/03/2016 09:40 am
