5 Speciedaler

Norges Bank established its own printing works in 1816 — one of the earliest central banks in Europe to do so — specifically to avoid dependence on foreign printers for a newly independent nation's currency. By 1868 that operation was well established in Trondheim, though the speciedaler itself was already living on borrowed time: Norway would abandon the species standard and adopt the krone in 1875 as part of the Scandinavian Monetary Union.

The paper sourced from Saunders Paper Mill — almost certainly the English firm with a long record of supplying security paper to European note issuers — is the primary anti-counterfeiting element, with the watermark doing the work that more elaborate intaglio printing might handle elsewhere.