Sorry! This Sweden 1728 Copper 2 Daler Plate Money KM# PM71 Good VF has sold.
Sweden 1728 Copper 2 Daler Plate Money KM# PM71 Good VF
This is an impressive example of the world's largest "money".
| We Last Sold This Item For: | $2,000.00 |
|---|---|
| Last Sold On: | 26/8/2024 |
| # Sold In Past 12 Months: | 1 |
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Sweden 1728 Copper 2 Daler Plate Money KM# PM71 Good VF
Ex the Nicobar shipwreck (accompanied by 2 certificates stating it is a genuine relic )
Obverse: Circular punch in each corner - crown above FRS, date below. Centre punch features SILF MINT above crossed arrows at centre
Reverse: Blank
Diameter: 170mm * 165mmmm | Weight: 1.432kg
Mintage: Tingstrom states 60 examples of this date and denomination are known, 15 pieces from the wreck of the Nicobar
This is an impressive example of the world's largest "money".
Swedish Plate Money
Plate money is the term used to describe the extremely large copper coins used in Sweden between 1643 and 1768. Production began during the reign of Gustav II Adolf (1611-1632) as Sweden’s copper mines produced about 2/3 of the world's copper at the time and was an attempt to control the price of copper to the advantage of Sweden.
It is hard to think of these objects as coins, much less that they could have been used in daily trade.
Illustrations of the era show Swedes with sacks of copper plates over their back or pulling a load of plates to the bank on a sled, an inconvenience that was the catalyst for the creation of the world’s first bank notes.
In the 1660s, a bank was formed where plates could be deposited in return for a paper certificate of value. This paper money was an instrument which could be exchanged in commerce and the value was repaid to the bearer in copper at the bank. This led to the creation of the world’s first central bank, Sveriges Riksbank (The National Bank of Sweden).
Swedish Plate Money Was In Use Between 1643 and 1768
In 1643, the first plate money was issued in the denomination of 10 Daler SM, they were approximately 13 by 27 inches in size and weighed 43 pounds. The last year plates were produced in quantity was 1759, a small number of plates 1768 are known.
How Plate Money Was Made
Swedish plate money has a stamp in each corner that shows the name or initials of the monarch and the year of issue. The denomination is shown in a stamp at the centre, while the reverse is completely blank.
Many plates show hammer marks inherent in the manufacturing process. The copper were formed into sheets of necessary thickness, cut to size with shears and then stamped. This manufacturing by hand with large tools endows each plate with a unique character.
While copper plate money was never popular, the fact it was in use for more than a century clearly shows it was effective. Production costs were far lower than it would have cost to strike numerous small coins of equivalent value; they simplified copper exportation and they relieved the Swedish economy’s dependence on imported silver.
Driven by the lasting utility and value of copper, virtually all of the demonetized plate money was melted down in the years after 1768.
Of the roughly 11,000 examples that still exist, most come from several well-known shipwrecks. The most notable wreck is that of the Danish East India Company ship, the Nicobar (also spelt Nichobar).
In 1782, the Nichobar left Copenhagen on her first and last voyage to Tranquebar in India. 8 tons of Swedish plate money bought at the Swedish Riksbank was the cargo, intended as payment for Indian goods or sold for shipbuilding or gun casting.
The Nichobar never arrived, it was wrecked in July 1783 off Quoin Point in South Africa. The wreckage of the Nichobar was discovered in 1987. Different sources say divers found between 3,000 and around 5,000 examples of plate money over four months. When attributed by denomination and date, individual examples of Swedish plate money are incredibly scarce.
This is a wonderful example of one of the world’s most incredible forms of money.
SKU: 213653
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