riksdaler

The riksdaler was the principal monetary unit of Sweden from the 17th through the 19th century. The term derives from rik(e) meaning realm and daler, a traditional silver coin used across Northern Europe. Introduced in the 1620s and minted in Stockholm and other Swedish mints, the riksdaler quickly became the standard coin and unit of account within the Swedish realm, including Finland during periods of Swedish rule, and it circulated broadly in the Baltic region.

The riksdaler existed in various denominations and was typically struck in silver, with smaller values and banknotes appearing in later centuries. Subdivisions and monetary practices changed over time, reflecting reforms in coinage and accounting methods. The system remained closely tied to the silver daler tradition, even as administrative and financial structures evolved.

In the 19th century, Sweden pursued monetary modernization and decimalization. In 1873 the krona was introduced as the new decimal currency, and the riksdaler ceased to be the official unit of account. The krona’s adoption unified Sweden’s monetary system with neighboring countries under the Scandinavian Monetary Union, and the riksdaler began to fade from active circulation and official use, though it remains a fixture in historical and numismatic references.

Beyond Sweden, the riksdaler nomenclature influenced neighboring currencies; the Danish and Norwegian authorities used similar terms (rigsdaler or riksdaler) rooted in the same medieval coin traditions. Today the riksdaler is primarily of interest to historians and collectors, representing a key stage in the evolution of modern Scandinavian currencies.