12 Daler KM

Sveriges Riksens Ständers Banco — the predecessor institution to what would become Sveriges Riksbank — issued this denomination during a period of profound political turbulence in Swedish monetary affairs. The 12 Daler Kopparmynt notes circulated through the Age of Liberty, a parliamentary era that saw the Riksdag accumulate extraordinary control over the bank and, fatally, over the money supply. The Cap and Hat factions both used credit expansion as a political instrument, and the resulting inflation eventually forced a complete monetary reform under Gustav III in the 1770s.

The long issue window — over four decades — means individual notes vary considerably in handwritten details. Each was signed and dated by hand at the time of issue, making every surviving example technically unique in its completion.