|Type||Trade tokens › Business token|
|Value||10 Ore (0.10 DKK)|
Tracy L. Schmidt (editor); 2019. Standard Catalog of World Coins / 2001-Date (14th edition). Krause Publications, Stevens Point, Wisconsin, United States.
And 5 more volumes.
Lettering around GEGN VÖRUM in centre
*AKTIESELSK N. CHR. GRAMS*
Denomination in the centre, wreath around
Lettering: 10 ØRE
Under the Scandinavian Monetary Convention of 1873, the currencies of Denmark, Norway and Sweden could move to Iceland. But very few of these coins have actually made the way to the island, which missed of liquidity. Consequently, the Icelandic merchants made strike tokens to fill this gap. A law of 1901 banned them, the traders while profiting to increase the prices.
According to Island national museum, this piece was produced for Niels Christian Grams' store in Þingeyri. It is very unlikely that the Grams money ever went into circulation, but was returned to the smelter at the manufacturer in Germany. Only one copy of Niels' money has been found in this Iceland. Other specimens have been found in Denmark.
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