Øre is the centesimal subdivision of the Norwegian and Danish krones. The Faroese division is called the oyra, but is equal in value to the Danish coin. Before their discontinuation, the corresponding divisions of the Swedish krona and the Icelandic krona were the ore and the eyrir, respectively. In all five languages, the name derives from the Latin aureus, a gold coin worth 25 denarii.
The Danish 25 ore coin ceased to be legal tender on 1 October 2008. The only Danish coin currently in use with a value below DKK 1 is the 50 ore.
The krone ( sign: kr.; code: DKK) is the official currency of Denmark, Greenland and the Faroe Islands, introduced on 1 January 1875. Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter usually follows it. The currency is sometimes referred to as the Danish crown in English, sincekrone literally means crown. Historically, krone coins have been minted in Denmark since the 17th century.
One krone is subdivided into 100 øre. Altogether there are eleven denominations of the krone, with the smallest being the 50 ore coin, which is valued at one half of a krone. Formerly there were more øre coins, but those were discontinued due to inflation.
The krone is pegged to the euro via the ERM II, the European Union's exchange rate mechanism. Adoption of the euro is favoured by the major political parties, however a 2000 referendum on joining the Eurozone was defeated with 46.8% voting yes and 53.2% voting no.
The oldest Danish coins are the so-called korsmønter or "cross coins" minted by Harald Bluetooth in the late 10th century.Organised minting in Denmark was introduced on a larger scale by Canute the Great in the 1020s. Lund was the principal minting place and one of Denmark's most important cities in the Middle Ages, but coins were also minted in Roskilde, Slagelse, Odense, Aalborg, Århus, Viborg, Ribe, Ørbæk and Hedeby. For almost 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait. Taxes were sometimes imposed via the coinage, e.g. by the compulsory substitution of coins handed in by new coins handed out with a lower silver content.
Danish coinage was generally based on a silver standard. Periodically, the metal value of the minted coins was reduced, and thus did not correspond to the face value of the coins. This was mainly done to generate income for the monarch and/or the state. As a result of the debasement, the public started to lose trust in the respective coins. Danish currency was overhauled several times in attempts to restore public trust in the coins, and later in issued paper money.
In 1619 a new currency was introduced in Denmark, the krone (crown). One krone had the value of 1 1/2 Danish Rigsdaler Species accounting for 96 Krone skillinger, later for 144 common Skillings.
Until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. A new krone was introduced as the currency of Denmark in January 1875. It replaced the rigsdaler at a rate of 2 kroner = 1 rigsdaler. This placed the krone on the gold standard at a rate of 2480 kroner = 1 kilogram fine gold. The latter part of the 18th century and much of the 19th century saw expanding economic activity and thus also a need for means of payment that were easier to handle than coins. Consequently, banknotes were increasingly used instead of coins.
The introduction of the new krone was a result of the Scandinavian Monetary Union, which came into effect in 1873 (with the coins being adopted two years later) and lasted until World War I. The parties to the union were the three Scandinavian countries, where the name as krone in Denmark and Norway and krona in Sweden, a word which in all three languages literally means crown. The three currencies were on the gold standard, with the krone/krona defined as 1⁄2480 of a kilogram of pure gold.
The Scandinavian Monetary Union came to an end in 1914 when the gold standard was abandoned. Denmark, Sweden and Norway all decided to keep the names of their respective and now separate currencies.
Denmark returned to the gold standard in 1924 but left it permanently in 1931. Between 1940 and 1945, the krone was tied to the German Reichsmark. Following the end of the German occupation, a rate of 24 kroner to the British pound was introduced, reduced to 19.34 (4.8 kroner = 1 US dollar) in August the same year. Within the Woods System, Denmark devalued its currency with the pound in 1949 to a rate of 6.91 to the dollar. A further devaluation in 1967 resulted in rates of 7.5 kroner.
Relationship to the Euro
Denmark has not introduced the euro, following a rejection by referendum in 2000, but the Danish krone is pegged closely to the euro in ERM II, the EU's exchange rate mechanism. Denmark borders one eurozone member, Germany, and one EU member, Sweden, which is legally obliged to join the euro in the future (though Sweden maintains that joining ERM II is voluntary, giving Sweden an unofficial de facto opt out).
Faroe Islands and Greenland
The Faroe Islands uses a localized, non-independent version of the Danish krone, known as the Faroese Krona pegged with the Danish krone at par, using the Danish coin series, but have their own series of distinct banknotes, first being issued in the 1950s and later modernized in the 1970s and the 2000s.
Greenland adopted the Act on Banknotes in Greenland in 2006 with a view to introducing separate Greenlandic banknotes. The Act entered into force on 1 June 2007. In the autumn of 2010, a new Greenlandic government indicated that it did not wish to introduce separate Greenlandic banknotes and Danmarks National Bank ceased the project to develop a Greenlandic series. Still, Greenland continues to use Danish kroner as sole official currency. Historically, Greenland under the colonial administration issued distinct banknotes between 1803 and 1968, together with coins between 1926 and 1964.
Coins
The series is therefore divided into three sequences, each with its own metal colour. This division into colours has its roots in history. In earlier times, the value of the coins was equivalent to the value of the metal from which they were minted: gold was used for the coins of the highest denominations, silver for the next-highest, and copper for the lowest coin denominations. This correlation between colour and value has been retained in the present coin series (see examples to the right). The 50-øre coins are thus minted from copper-coloured bronze, the 1-, 2- and 5-krone coins from a silver-coloured cupronickel alloy, and the 10- and 20-krone coins from golden aluminium bronze.The design of the coin series is intended to ensure that the coins are easy to distinguish from each other:
The coins differ in terms of size, weight and rim. 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. Use of these various characteristics makes it easy for the blind and sight-impaired to tell the coins apart.
This Copper-Nickel coin was firstly issued in 1960 and lastly in 1972.The 3 gram coin is of diammeter 18 mm and thickness 1.52 mm.The coin was issued during the era of Denmark kingdom (980-) and in the period of King Frederick IX (1947-1972).The privy mark of the coin is Mintmasters initial C (Alfred Frederick Christiansen 1956-1971) + Moneyers initial S (Harald Salomon 1933-1968).Obaverse shows crowned FIXR monogram divides date, mint mark and initials CS below , and lettering FR IX 1970 C S And Reverse shows denomination, country name above oak branches, and lettering Danmarl 10 Ore.The mint mark is Heart(Copenhagen).Initially 20,258,000 coins were minted from Copenhagen mint and 37,813,000 in 1970 lastly in 1972 46,959,000 coins were minted.So far about 273,668.000 coins were minted.
The coin was demonetized in June 30th 1989.Now the peak value of the coin is $ 13.
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