Norway’s central bank may break a 1,000-year tradition, collector says

King Haakon VIII could become the first Norwegian king in a thousand years without his portrait on a Norwegian coin. The possibility has drawn criticism from coin expert and collector Arne Riise, who called Norges Bank’s position “ahistorical.”

Norges Bank says it currently sees no need to produce new coins and has no plans to do so in the near future. Demand for coins and the existing stock in circulation are assessed continuously. If production becomes necessary later, the design will be considered through the usual process, and the decision will apply to all denominations.

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I think it is ahistorical of Norges Bank.

The death of King Harald has therefore not yet changed Norway’s coins. Existing coins featuring Harald will remain legal tender for many years. His portrait has appeared on the current 10- and 20-kroner coins for more than three decades, while other denominations carry royal symbols and insignia.

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Since Olav the Holy, all Norwegian kings have made coins.

Riise argues that the tradition reaches back to Olav the Holy. He acknowledged that coins from a 12th-century civil-war period did not carry names, making their origins difficult to identify, but said the broader tradition spans about a millennium. He believes Denmark handled a similar transition better when Queen Margrethe II abdicated in January 2024.

At Oslo Myntgalleri in Frogner, older examples include coins featuring Olav the Holy, Christiania silver from Kongsberg, and successive Norwegian kings. The current lack of demand, however, means no process is under way to develop or design a new coin series.

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I think Denmark has been very good.