Sweden’s central bank recently unveiled designs for 1-, 2-, and 5-krona coins to be introduced in 2016. The new coins will be smaller and lighter, which will allow transportation and purchasing costs to be cut, while also reducing the environmentaln impact of manufacturing and handling.
The new 1-krona coin will be made out of copper-plated steel, with a diameter of 19.50 mm and weight of 3.60 grams. The current 1-krona coins have a composition of 75% copper and 25% nickel, with a diameter of 25 mm and weight of 7 grams. This will continue to represent the lowest denomination coin in Sweden following the phase out of the 50 öre coin as legal tender in 2010. Currently 1 Swedish Krona has a value of around 15 U.S. cents.
The new 2-krona coin will also be struck from copper-plated steel. The diameter will be 22.5 mm and the weight will be 4.8 grams. The 2-krona denomination has not been issued since 1971. It will return within the new coin series in order to reduce the demand for 1-krona coins. The overall number of coins in people’s wallets and in retail trade is expected to be reduced.
The new designs for the 1- and 2-krona coins feature a portrait of King Carl XVI Gustaf in profile with the inscription “CARL XVI GUSTAF – SVERIGES KONUNG”. The year of minting appears split, with two digits on each side of the portrait. The reverse of each coin displays the lesser coat of arms “Tre kronor” (three crowns) and the denomination. The reverse of the 1-krona coin also contains a stylized solar corona, while the reverse of the 2-krona coin contains a stylized whirlwind.
The new 5-krona coin will be made of Nordic gold, which consists of 89% copper, 5% aluminum, 5% zinc, and 1% tin. The diameter will be 23.75 mm with a weight of 6.10 grams. The current 5-krona coins are made with an outer layer of copper-nickel and an inner core of 100% nickel. These have a diameter of 28.5 mm and weight of 9.5 grams.
The obverse design of the coin will display King Carl XVI Gustaf’s monogram with the inscription “CARL XVI GUSTAF – SVERIGES KONUNG” and the date split to each side. The reverse contains the lesser coat of arms and the denomination amidst stylized waves.
Together, the reverse designs of the three new coins present the theme “sun, wind, and water”. The obverse designs continue the long tradition of having the Swedish head of state’s portrait, motto and monogram on the Swedish coins.
The currently issued 10-krona coin, which is made from Nordic gold, will continue to be produced with no changes to the design or composition.
All coin images for this article are courtesy of Sveriges Riksbank.