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1022
XIV. CREDIT AND INSURANCE ESTABLISHMENTS OF SWEDEN.
The coining is executed at the Royal Mint. It is free to all to deposit
gold there for coining into 20 and 10 kronor pieces. As a rule, the gold
deposited shall consist of gold suitable for coinage, and, as a whole, not be of a lower
percentage than 900 thousandths. Gold not filling these requirements is also
exceptionally accepted. Gold bullion as well as foreign coin is accepted. If the
value of the gold deposited amounts to 1/s million kronor at the least, the coining
is done for the account of the owner. If the value be lower, it is left to the
Director of the Mint to accept the gold, redeem it in cash, or write out a
certificate for it, which is redeemed by the Bank of Sweden. Gold lots of a lower
value than 500 kronor are not accepted. In all these cases, the coining expenses
(reductions in coinage-charges are granted) are to be paid with V* N for 20
kronor pieces, and V’s % for 10 kronor pieces; when remelting or toughening of
the gold delivered for coinage is necessary, the expenses for these are also to be
compensated. Any one desiring to have gold bullion exchanged for gold coin, has
to give it in to the Royal Mint for the account of the Bank of Sweden, in which
case the Bank of Sweden has to redeem it to a value of 2,480 kronor per
kilogram of fine gold, with a deduction of 1/i % of the coining expenses together with
certain fees for toughening, if necessary; still the principals of the Bank of Sweden
may, when they find it reasonable, exempt the owner from the coining charges
or some part thereof. — 5 kronor pieces are coined only for the account of the
State and the Bank of Sweden. Silver and bronze are coined only for the account
of the State.
The gold coins naturally are legal tender for an unlimited amount.
The token coins have the same paying value only in relation to the
State; private persons, on the other hand, are not obliged to accept in
one payment a greater amount than 20 kronor in one and two kronor
pieces, 5 kronor in smaller silver coin, and 1 krona in bronze coin.
In the Public Treasury, as also in the head and branch offices of the
Bank of Sweden in Gothenburg and in Malmö, every one may get any amount of
subsidiary coins, divisible with 10 kronor, exchanged for gold coin. The Bank of
Sweden has the same right in relation to the State.
Twenty and ten kronor pieces cease to be legal tender to private persons
when they have lost more than V*•», and to the State when they have lost more
than 2 •» of their gross weight. The five kronor piece loses its property of being
legal tender to private persons when it has lost more than 0-« % of its weight,
and to the State when it cannot be seen whether it be coined for the account of
the Kingdom. Token coins cease to be legal tender to private persons when the
design has become indistinct and to the State in the same case as for five kronor
pieces. Coins that have ceased to be legal tender to private persons may be
received at certain Government offices and at the Bank of Sweden. Similar coins
as well as silver ones having lost 4 K or more of their gross weight shall be
melted down when they come into the Public Treasury.
Sweden and Denmark entered into a monetary oonvention May 27,
1873, to which Norway acceded October 16, 1875. According to this
convention, all three countries have the same monetary system with
essentially the same regulations.
The coin of each country has the same monetary value in the two other
countries as in its own. Each country is bound to accept from the Public
Treasury of the other countries such coin provided with its stamp, as is legal
tender only in relation to the State. From the Public Treasuries of the other
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