Charles XII financed Sweden's ruinous wars through increasingly desperate monetary experiments, and the 1716 "Faith of the People" (Folkets Tro) emergency coinage was among the most audacious. These copper tokens were issued by the Riksens Ständers Bank with a declared face value far exceeding their intrinsic worth — the public was expected to accept them on royal credit alone. Most didn't. Widespread refusal and hoarding meant many pieces saw little genuine commerce.
Charles was killed at Fredriksten in 1718, and the emergency monetary scheme collapsed shortly after with formal demonetization in 1719.
Charles XII financed Sweden's ruinous wars through increasingly desperate monetary experiments, and the 1716 "Faith of the People" (Folkets Tro) emergency coinage was among the most audacious. These copper tokens were issued by the Riksens Ständers Bank with a declared face value far exceeding their intrinsic worth — the public was expected to accept them on royal credit alone. Most didn't. Widespread refusal and hoarding meant many pieces saw little genuine commerce.
Charles was killed at Fredriksten in 1718, and the emergency monetary scheme collapsed shortly after with formal demonetization in 1719.