1/4 Penning

Produced under the Norwegian kings of the late 12th century — most likely during the reign of Sverre Sigurdsson, whose civil war against the Birkebeiner faction disrupted minting operations repeatedly — this fractional denomination represents the smallest unit of account in circulation during a period when Norwegian coinage was still regionally fragmented. Skaare's attribution to this bracket reflects genuine uncertainty; die evidence alone cannot resolve the reign.