1 Speciedaler

Norges Bank began printing its own notes in Trondheim from the founding of its in-house works in 1816, unusually early for a central bank to control its own production — most contemporaries still contracted to commercial printers abroad. The Speciedaler was Norway's primary monetary unit from 1816 until decimalization replaced it with the Krone in 1875, and this issue falls within the bank's earliest decades of operation, when note-issuing was still a contested privilege in a country that had only gained its constitution in 1814.

The watermark is the sole security feature, consistent with the period's limitations. Forgery pressure on Norwegian notes during the 1820s was relatively low by European standards, partly due to the country's sparse population and limited commercial velocity.