1776 Sweden Riksdaler - NGC XF-45 - Coin Community Forum

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Author	Replies: 5 / Views: 2,323
Zohar444 Pillar of the Community United States 1429 Posts	Posted 10/16/2009 8:00 pm I liked the date, design, toning and price so I picked it up even though it is out of my area of focus, Talers. Will keep for now and perhaps trade for Taler later on. Denomination:Riksdaler Mint Authority:King Gustav III of Sweden Year of Issue:1776 Weight (g):29.31 Material:Silver In the 17th and 18th centuries, Sweden suffered from a constant lack of money. That is why in 1715, a small, valueless copper credit coin was issued, that nominally equaled 1 silver daler. Over the next four years, some 40 million of these credit coins were issued. The government's original plan had been to replace the credit dalers every year with silver coins. This ceased after 1717, however. 1719, the credit daler's value was reduced to half, of which 2 öre were paid out in hard cash immediately, while the rest (14 öre) was paid in paper money. In the 18th century, the Swedish monetary circulation thus comprised mainly worthless copper coins and paper money. Eventually, the long looked-for change came with the reign of King Gustav III, who in 1776 reestablished a silver currency in Sweden. All coins minted before 1770 were demonetized, and the issue of the large copper plate coins came to an end. From now on, the Swedish monetary system was based on the silver riksdaler of 48 skilling. Edited by Zohar444 10/16/2009 8:23 pm Report this Post to the Staff

echizento Moderator United States 23731 Posts	Posted 10/16/2009 8:12 pm Very nice coin. Isn't the Riksdaler the Swedish version of the German and Austrian Taler? Report this Post to the Staff
Zohar444 Pillar of the Community United States 1429 Posts	Posted 10/16/2009 8:18 pm It is. Report this Post to the Staff
Kiwi_Bird Valued Member 94 Posts	Posted 10/17/2009 02:10 am I like this coin! Report this Post to the Staff
Archraz Pillar of the Community United States 3499 Posts	Posted 10/17/2009 1:57 pm Awesome one, Zohar444! Report this Post to the Staff
snowman Pillar of the Community United States 1840 Posts	Posted 10/17/2009 2:49 pm Quote: The government's original plan had been to replace the credit dalers every year with silver coins. This ceased after 1717, however. 1719, the credit daler's value was reduced to half, of which 2 öre were paid out in hard cash immediately, while the rest (14 öre) was paid in paper money. In the 18th century, the Swedish monetary circulation thus comprised mainly worthless copper coins and paper money. As Paul Harvey would have said, "Now the rest of the story". These copper Dalers became known as Goertz Dalers after the finance minister who came up with the idea. Needless to say the populace was pretty angry at not getting the silver that was promised to them. Goertz eventually became the scapegoat for the whole debacle and was hung. Excellent coin Zohar. Report this Post to the Staff
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