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The krona (Swedish: ⓘ; plural: kronor; sign: kr; code: SEK) is the currency of the Kingdom of Sweden.It is one of the currencies of the European Union.Both the ISO code "SEK" and currency sign "kr" are in common use for the krona; the former precedes or follows the value, the latter usually follows it but, especially in the past, it sometimes preceded the value.
Iceland's first coins were 10 and 25 aurar pieces introduced in 1922. These were followed in 1925 by 1 krona and 2 krona pieces and in 1926 by 1, 2 and 5 aurar pieces. In 1946, the coins' designs were altered to remove the royal monogram (CXR), following abolition of the Icelandic monarchy (which had formed a personal union with Denmark) in 1944.
Within each sequence the diameter and weight of the coins increase with their value. The 50 øre and 10 krone coins have smooth rims, while the rims of the 1 and 5 krone coins are milled. The rims of the 2 and 20 krone coins have interrupted milling. The 1, 2 and 5 krone coins have a hole in the middle.
Silver coin: 1 Riksdaler with the portrait of King Gustav III on the front, the deep side is the royal seal, minted in 1781 [8] In the 1770s, before the introduction of the new currency, coins were being issued in denominations of 1 öre K.M., 1, 2, 4, 8 and 16 öre S.M., 1 and 2 daler S.M. and 1 riksdaler.
The reverse featured the coat of arms of Denmark with the denomination written underneath. [1] The coin was minted in the years 1875, 1876, 1892, and 1898. [2] A second silver krone was minted in 1915 and 1916, with King Christian X of Denmark on the obverse. [3] It was struck to the same specifications as the previous coin. [4]
Greenlandic aluminium-bronze 50 øre coin from 1926. In 1926, cupronickel 25 øre and aluminium-bronze 50 øre and 1 krone were issued. The coins were the same size and composition as the corresponding Danish coins. However, the 25 øre was not holed, although some were withdrawn from circulation, holed and then reissued.
The word "krone/krona" literally means "crown", and the differences in spelling of the name represent the differences between the North Germanic languages. The political union between Sweden and Norway was dissolved in 1905, but this did not affect the basis for co-operation in the monetary union.
From October 1992, the only coin in use in Sweden with a value below 1 kronor was the 50 öre coin. [2] On 18 December 2008, the Swedish Riksbank announced a recommendation to the Swedish government to phase out the final öre coin by 2010. [3] The coin ceased to be minted on 25 March 2009 [4] and ceased to be legal tender after 30 September 2010.