25 Rigsdaler / 25 Kroner - Christian V Thormøhlen notes

Among the earliest paper money issued anywhere in Scandinavia, these notes were produced by the private merchant and financier Jørgen Thormøhlen under a royal privilege granted by Christian V. Thormøhlen's Christiania bank was not a state institution — it was a commercially licensed venture, effectively a private monopoly on paper credit in Norway, operating under royal sanction but at Thormøhlen's own risk. The enterprise collapsed within a few years, and the notes were never redeemed at full value.

The wax seal served as the primary authentication device — handwritten text and manuscript signatures completed each note individually at issue. No two are identical in execution.