![]() Norwegian coins remained a viable currency in Norway, but since other nations didn’t want them, the king had secured complete control. “That was a brilliant move,” says Risvaag. The Norwegian coins were at this point of such poor quality that only money-hungry churches would accept them. The Pope agreed with Raude’s suggestion so that instead of receiving Norwegian coins with a little silver, he would receive proper currency. In 1276, Archbishop Jon Raude asked Pope John XXI how he wanted his taxes to be paid and suggested that the poor-quality Norwegian coins should be exchanged for goods that could be sold for foreign silver instead. “That’s so low that the coins from that era are black today,” Risvaag says. By the time of Eric Magnusson’s reign at the end of the 13th century, the silver content in other coins fell as low as 6-7 per cent. Under Harald Hardrada in the mid-1000s, the silver content dropped to 30 per cent. The earliest coins from CE 995 were more than 90 per cent silver, but some rulers saw their chance to scrimp on silver and save on their precious metals as they deemed necessary. The silver content in Norwegian coins varied greatly. NTNU has a significant collection stored behind heavy, armoured doors. The silver content dipped below 20 per cent at times.
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