Danish rigsdaler
The rigsdaler was the name of several currencies used in Denmark until 1875. The similarly named Reichsthaler, riksdaler and rijksdaalder were used in Germany and Austria-Hungary, Sweden and the Netherlands, respectively. These currencies were often Anglicized as rix-dollar or rixdollar.
The Danish currency system established in 1625 consisted of 12 penning = 1 skilling, 16 skilling = 1 mark, 6 mark = 1 rigsdaler and 8 mark = 1 krone.[1] From 1713, two separate systems coexisted, courant and species, with courant being a debased currency also used for banknote issue. The rigsdaler species contained 4⁄37 of a Cologne mark of fine silver (i.e., 9 1⁄4 rigsdaler species equalled one Cologne mark).
In 1813, following a financial crisis, a new currency system was introduced, based on the rigsbankdaler. For six rigsdaler in old banknotes, a new one rigsbankdaler note was exchanged. The rigsbankdaler This was divided into 96 rigsbank skilling and was equal to half a rigsdaler species or 6 rigsdaler courant.
A further change was made in 1854. The rigsdaler species name disappeared and the names rigsbankdaler and rigsbank skilling became rigsdaler and skilling rigsmønt. Thus, there were 96 skilling rigsmønt to the rigsdaler.
In 1873, Denmark and Sweden formed the Scandinavian Monetary Union and the rigsdaler was replaced by the Danish krone on 1 January 1875. An equal valued krone/krona of the monetary union replaced the three currencies at the rate of 1 krone/krona = 1⁄2 Danish rigsdaler = 1⁄4 Norwegian speciedaler = 1 Swedish riksdaler. Because of this reform, where two Danish kroner was then of equal worth to the Danish daler, the "tokrone" coins got the common name of "daler" as they were functionally the same (the real daler got retired). This has however, become an increasingly uncommon name as a result of a gap in the "tokrone" coin's existence from 1959 to 1993.
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