Sveriges Riksbank issued this small-denomination Krona note across an unusually long production window — over a quarter century — during which Sweden navigated the First World War, the subsequent economic turbulence of the early 1920s, and the Great Depression. The note's longevity in the series is partly explained by the low denomination: demand for 1 Krona notes was constant and largely insensitive to monetary reform cycles.
Sweden suspended the gold standard in 1914 at the war's outbreak, and these small notes filled an immediate gap left by hoarded coin. Silver 1 Krona pieces effectively vanished from circulation that year, making paper substitutes necessary far sooner than the Riksbank had planned.
Sveriges Riksbank issued this small-denomination Krona note across an unusually long production window — over a quarter century — during which Sweden navigated the First World War, the subsequent economic turbulence of the early 1920s, and the Great Depression. The note's longevity in the series is partly explained by the low denomination: demand for 1 Krona notes was constant and largely insensitive to monetary reform cycles.
Sweden suspended the gold standard in 1914 at the war's outbreak, and these small notes filled an immediate gap left by hoarded coin. Silver 1 Krona pieces effectively vanished from circulation that year, making paper substitutes necessary far sooner than the Riksbank had planned.