5 Speciedalere

Norges Bank began issuing its own notes from Trondheim in 1816, shortly after Norway's forced union with Sweden under the 1814 Kiel Treaty forced a rapid reorganization of the country's financial infrastructure. The Speciedaler was established as the new monetary unit that same year, replacing the depreciated Rigsbankdaler of the Danish colonial period — a deliberate break from the old monetary order.

By the late 1820s, the bank's printing operation in Trondheim was still relatively young, and the handpress production methods of the period mean that impressions vary considerably across surviving examples. The watermark is the primary security element, a modest measure reflecting the limited anti-counterfeiting technology available to a provincial printing operation of that era.