25 Daler Bank Note

Description:

This 1666 private bank note is among the earliest paper currency items issued in the Western European tradition. The numerous signatures and seal represent the Bank of Stockholm in Sweden. The denomination is 25 dalers or silver coins of an official unit in that country.

Paper currency from its earliest introduction held the promise of convenience for users who needed to transport value over distances easily. But people with considerable property were skeptical about the supposed benefits of paper currency because of the potential during crises for abuse by governments or private issuers of this new tool or instrument of exchange. The bank that issued this note, for example, needed to devote considerable sums of money to various government officials to gain approval for this novelty. Within a few years, this experiment ceased when an audit showed that insufficient assets supported the amount of money issued by the Bank of Stockholm. During the 18th century, paper became widespread to facilitate trade and commerce.

Date Made: 1666-03-21

Issuing Authority: Bank of Stockholm

Location: Currently not on view

Place Made: Sweden: Stockholm, Stockholm

See more items in: Work and Industry: National Numismatic Collection, Coins, Currency and Medals

Exhibition:

Exhibition Location:

Data Source: National Museum of American History

Id Number: 1999.0149.09Serial Number: 658Catalog Number: 1999.0149.09Accession Number: 1999.0149

Object Name: credit noteObject Type: paper money

Physical Description: paper (overall material)Measurements: overall: 15.5 cm x 19 cm; 6 1/8 in x 7 1/2 in

Guid: http://n2t.net/ark:/65665/ng49ca746a2-d322-704b-e053-15f76fa0b4fa

Record Id: nmah_472664

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