10 daler silvermynt, Stockholms banco, 1666
This is what was known as a credit note – Sweden’s first banknote type – issued by Stockholms banco. When the banknote was issued in 1666, a decision had already been made that all credit notes were to be exchanged. Therefore, there should be no credit notes issued after 1664.
Why were these banknotes issued? Perhaps as an interim solution – the most important thing was to redeem the inferior older banknotes. Coin shortages also contributed to the slow redemption process.
The problem was simply put off until later with the issue of banknotes in 1666. That was perhaps longer than intended, as confidence in banknotes increased when fewer and better banknotes were in circulation. They slowly regained their value, eventually equalling that of coins. There was less willingness to give up banknotes as paper money was more convenient.
)Object number: 801715_KMK
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