Greenlandic krone
Encyclopedia
The Greenlandic krone was a planned currency for Greenland
. Currently, the Danish krone
circulates. The Greenland krone was not intended to be an independent currency but a version of the Danish krone. Consequently, it will not have an ISO 4217 currency code. The ISO 4217 code for the Danish krone is DKK. Even when the currency is adopted, the Danish krone will continue to circulate separately.
During the last part of the 19th century, while still a Danish colony, several mining companies operating in Greenland issued their own currencies. Distinct zinc currency was also introduced in the newly founded colony of Ammassalik
. Between 1926 and 1964, the Danish government's trade monopoly, Kongelig Grønlandske Handel (Royal Greenlandic Trade) introduced a series of distinct coins for use on Greenland. In 1944, the colonial administration issued a 5 kroner coin, using a similar design as the then-circulating 1 krone piece but produced at the U.S. Mint in Philadelphia. Although the colonies in Greenland were incorporated into Denmark by the 1953 change to the Danish constitution
, the Greenlandic administration continued to issue its own banknotes until 1968.
In 2006, the government of Denmark and the home rule authority on Greenland announced that an agreement had been reached to produce a distinct Greenlandic version of the Danish krone (DKK) bills, a similar relationship as between the Faroese króna
and the Danish krone
. A bill to this effect was passed unanimously by the Danish parliament
in May 2007. The bill specifies the nature of the new issue:
However, in a vote in mid-October 2009, Greenland decided not to introduce its own notes for now.
, the krone replaced the rigsdaler in 1874 at a rate of 2 kroner = 1 rigsdaler. All issues of the krone in Greenland have been equivalent in value to the Danish krone.
in the United States
, were issued. A second issue of aluminium-bronze 1 krone was made in 1957, followed by cupro-nickel versions in 1960 and 1964.
In 1913, colonial notes (marked Styrelse af Kolonierne i Grønland) were introduced in denominations of 25 and 50 øre, 1 and 5 kroner. From 1926, colonial notes were marked Grønlands Styrelse, the denominations below 5 kroner ceased production and 10 and 50 kroner notes were introduced.
In 1953, the Kongelige Grønlandske Handel resumed note production with 5, 10 and 50 kroner notes, whilst credit notes (Kreditsedler) for 100 kroner were also issued. These notes were produced until 1967.
Greenland
Greenland is an autonomous country within the Kingdom of Denmark, located between the Arctic and Atlantic Oceans, east of the Canadian Arctic Archipelago. Though physiographically a part of the continent of North America, Greenland has been politically and culturally associated with Europe for...
. Currently, the Danish krone
Danish krone
The krone is the official currency of the Kingdom of Denmark consisting of Denmark, the Faroe Islands and Greenland. It is subdivided into 100 øre...
circulates. The Greenland krone was not intended to be an independent currency but a version of the Danish krone. Consequently, it will not have an ISO 4217 currency code. The ISO 4217 code for the Danish krone is DKK. Even when the currency is adopted, the Danish krone will continue to circulate separately.
During the last part of the 19th century, while still a Danish colony, several mining companies operating in Greenland issued their own currencies. Distinct zinc currency was also introduced in the newly founded colony of Ammassalik
Tasiilaq
Tasiilaq is a town in the Sermersooq municipality in southeastern Greenland. With 1,930 inhabitants as of 2010, it is the most populous community on the eastern coast, and the seventh-largest town in Greenland...
. Between 1926 and 1964, the Danish government's trade monopoly, Kongelig Grønlandske Handel (Royal Greenlandic Trade) introduced a series of distinct coins for use on Greenland. In 1944, the colonial administration issued a 5 kroner coin, using a similar design as the then-circulating 1 krone piece but produced at the U.S. Mint in Philadelphia. Although the colonies in Greenland were incorporated into Denmark by the 1953 change to the Danish constitution
Constitution of Denmark
The Constitutional Act of Denmark is the Kingdom of Denmark's constitution, or fundamental law. Originally verified in 1849, the last revision was signed on 5 June 1953 as "the existing law, for all to unswerving comply with, the Constitutional Act of Denmark".-Idea and structure:The main...
, the Greenlandic administration continued to issue its own banknotes until 1968.
In 2006, the government of Denmark and the home rule authority on Greenland announced that an agreement had been reached to produce a distinct Greenlandic version of the Danish krone (DKK) bills, a similar relationship as between the Faroese króna
Faroese króna
The króna is the currency of the Faroe Islands. It is issued by the Danish National Bank. It is not an independent currency but a version of the Danish krone. Consequently, it does not have an ISO 4217 currency code. The ISO 4217 code for the Danish krone is DKK...
and the Danish krone
Danish krone
The krone is the official currency of the Kingdom of Denmark consisting of Denmark, the Faroe Islands and Greenland. It is subdivided into 100 øre...
. A bill to this effect was passed unanimously by the Danish parliament
Folketing
The Folketing , is the national parliament of Denmark. The name literally means "People's thing"—that is, the people's governing assembly. It is located in Christiansborg Palace, on the islet of Slotsholmen in central Copenhagen....
in May 2007. The bill specifies the nature of the new issue:
However, in a vote in mid-October 2009, Greenland decided not to introduce its own notes for now.
History
As in DenmarkDenmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, the krone replaced the rigsdaler in 1874 at a rate of 2 kroner = 1 rigsdaler. All issues of the krone in Greenland have been equivalent in value to the Danish krone.
Coins
In 1926, cupro-nickel 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. In 1944, brass 5 kroner coins, produced by the Philadelphia MintPhiladelphia Mint
The Philadelphia Mint was created from the need to establish a national identity and the needs of commerce in the United States. This led the Founding Fathers of the United States to make an establishment of a continental national mint a main priority after the ratification of the Constitution of...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, were issued. A second issue of aluminium-bronze 1 krone was made in 1957, followed by cupro-nickel versions in 1960 and 1964.
Banknotes
In 1874, Handelsstederne i Grønland issued 50 øre and 1 krone notes, followed by 25 øre notes the next year. In 1887, 5 kroner notes were introduced. The Handelsstederne continued to issue notes until 1905. In 1911, the Kongelige Grønlandske Handel began issuing paper money, with notes in denominations of 25 and 50 øre, 1 and 5 kroner.In 1913, colonial notes (marked Styrelse af Kolonierne i Grønland) were introduced in denominations of 25 and 50 øre, 1 and 5 kroner. From 1926, colonial notes were marked Grønlands Styrelse, the denominations below 5 kroner ceased production and 10 and 50 kroner notes were introduced.
In 1953, the Kongelige Grønlandske Handel resumed note production with 5, 10 and 50 kroner notes, whilst credit notes (Kreditsedler) for 100 kroner were also issued. These notes were produced until 1967.