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50 Kroner Great Norwegian Spitsbergen Coal Company

Uitgever Store Norske Spitsbergen Kulkompani Aktieselskap
Jaar 1976
Type Local banknote
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Beschrijving voorzijde The entire field is covered by a dense typographic underprint repeating the issuer's name "STORENORSKESPITSBERGENKULKOMPANI" in blue, serving as the sole security element. Letterpress text in black printed over the underprint carries the series designation, note number, date (1976), issuer name in full, and the central denomination statement "50 FEMTI KRONER 50", together with the conditions of use in Norwegian. Two manuscript signatures appear at lower centre, attributed respectively to the Chairman of the Board and the Office Manager, Spitsbergen.
Opschrift voorzijde Log in om details te zien
Beschrijving keerzijde Log in om details te zien
Opschrift keerzijde «Not valid outside Spitsbergen.» 50
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Opmerkingen

Store Norske Spitsbergen Kulkompani — majority owned by the Norwegian state since 1934 — operated the mining settlement of Longyearbyen on Svalbard under conditions that made conventional banking almost irrelevant. The company scrip issued here was functional currency within the settlement, where the company controlled housing, the store, and virtually every commercial transaction. Scrip kept wages circulating internally rather than bleeding out of an isolated Arctic economy with no competing retail economy to speak of.

By 1976, this system was already an anachronism. Norwegian banking reached Svalbard shortly after, and the scrip series was retired.

MISSCHIEN OOK INTERESSANT