The krone, plural kroner, is the currency of Norway and its dependent territories. It is subdivided into 100 øre, which exist only electronically since 2012, the name translates into English as crown. The krone was the thirteenth most traded currency in the world by value in April 2010, the krone was introduced in 1875, replacing the Norwegian speciedaler/spesidaler at a rate of 4 kroner =1 speciedaler. In doing so, Norway joined the Scandinavian Monetary Union, which had established in 1873. After its dissolution, Denmark, Norway, and Sweden all decided to keep the names of their respective, within the Scandinavian Monetary Union, the krone was on a gold standard of 2,480 kroner =1 kilogram of pure gold. This gold standard was restored between 1916 and 1920 and again in 1928 and it was suspended permanently in 1931, when a peg to the British pound of 19.9 kroner =1 pound was established. In 1939, Norway pegged the krone temporarily to the U. S. dollar at a rate of 4.4 kroner =1 dollar, nonetheless, Norway would continue to hold the Kingdoms gold reserves. During the German occupation in the Second World War, the krone was initially pegged to the Reichsmark at a rate of 1 krone =0.6 Reichsmark, after the war, a rate of 20 kroner =1 pound was established. The rate to the pound was maintained in 1949, when the pound devalued relative to the U. S. dollar, in 1875, coins were introduced in denominations of 10 and 50 øre and 1 and 10 kroner. These coins also bore the denomination in the currency, as 3,15. Between 1875 and 1878, the new coinage was introduced in full, in denominations of 1,2,5,10,25, and 50 øre and 1,2, and 10 kroner. The 1,2, and 5 øre were struck in bronze, the 10,25, and 50 øre and 1 and 2 kroner, in silver, the last gold coins were issued in 1910, silver was replaced by cupro-nickel from 1920. Between 1917 and 1921, iron replaced bronze. 1917 also saw the last issuance of 2 kroner coins, during the German occupation in the Second World War, zinc was used in place of cupro-nickel in 10,25, and 50 øre coins, and production of the 1 krone piece was suspended. In 1963,5 kroner coins were introduced, production of 1 and 2 øre coins ceased in 1972. The following year, the size of the 5 øre coin was reduced, production of the denomination ceased in 1982, ten-kroner coins were introduced in 1983. In 1992, the last 10 øre coins were minted, between 1994 and 1998, a new coinage was introduced, consisting of 50 øre,1,5,10, and 20 kroner. These are the coins which are currently legal tender, with the exception of the 50-øre coin which was withdrawn on 1 May 2012
Image: VII 50 forside 200
A 20-crown gold coin. The text '124 Stk. 1 Kil. f. G.' means that 124 pieces gave one kilogram of pure gold
A Norwegian 20-krone coin compared to a Syrian 10-pound coin.