1 Öre Silvermynt – Sweden

In 1669, Sweden was navigating the complex aftermath of the Thirty Years' War (1618–1648). While the conflict had established Sweden as a great European power, it left the kingdom financially exhausted. The state's primary solution to fund its military ambitions had been the heavy debasement of its copper coinage, leading to a cumbersome and unstable monetary system. Sweden uniquely operated on a bimetallic standard where large, heavy copper plates (plåtmynt) circulated alongside silver coins, creating practical difficulties for everyday commerce and fostering widespread economic inefficiency.

This problematic currency situation set the stage for a pivotal development. In 1668, the Swedish Riksdag (parliament) had chartered the world's first central bank, Riksens Ständers Bank (the Bank of the Estates of the Realm), which began operations in 1669. Its immediate task was to restore order and trust in the currency by providing a stable and reliable means of exchange. The bank aimed to replace the chaotic mix of debased coins with properly valued currency, initially through the issuance of credit notes, which were precursors to modern banknotes.

Thus, the currency situation in 1669 was one of transition and hope. The old system of bulky copper money and unreliable silver coins represented a lingering crisis from decades of war finance. Simultaneously, the newly founded central bank represented an innovative and forward-looking attempt to create financial stability, laying the institutional groundwork that would eventually evolve into the modern Swedish Riksbank, the oldest surviving central bank in the world.