Information about currency: Greenlandic Krone
|Currency name||Greenlandic Krone|
|Dates||1813 - 1874|
1 Krone = 100 øre
The Greenlandic krone (Greenlandic: koruuni) was a planned currency for Greenland. Currently, the Danish krone circulates. The Greenland krone was not intended to be an independent currency but a version of the Danish krone. Consequently, it was not intended to have its own ISO 4217 currency code, but to use the same ISO 4217 code as the Danish krone, which is DKK. Even if the currency was to have been adopted, the (regular) Danish krone would have continued to circulate separately.
In 2006, the government of Denmark and the home rule authority on Greenland announced that an agreement had been reached to produce a distinct Greenlandic version of the Danish krone (DKK) bills, a similar relationship as between the Faroese króna and the Danish krone. A bill to this effect was passed unanimously by the Danish parliament in May 2007. The bill specifies the nature of the new issue:
"One currency and monetary policy exists for the entire realm. The responsibility herefore rests with Danmarks Nationalbank. Danmarks Nationalbank is consequently the central bank of the entire realm and the Danish krone is the currency for the entire realm. This law makes no change to this situation. Regardless of the application of distinct Greenlandic notes, the same currency is applied as in the rest of Denmark. Thus, the Greenlandic notes are a particular form of the Danish krone currency, and are to be understood as [standard] national bank notes with Greenlandic text.
— Parliament of Denmark, law no. 42 of the 2006-07 session, official comments"
However, in a vote in mid-October 2009, Greenland decided not to introduce its own notes for now.
In 1926, cupronickel 25 øre and aluminium-bronze 50 øre and 1 krone were issued. The coins were the same size and composition as the corresponding Danish coins. However, the 25 øre was not holed, although some were withdrawn from circulation, holed and then reissued. In 1944, brass 5 kroner coins, produced by the Philadelphia Mint in the United States, were issued. A second issue of aluminium-bronze 1 krone was made in 1957, followed by cupronickel versions in 1960 and 1964.
A related foreign issue is the 2 kroner coin that Denmark minted in 1953. To commemorate the start of an anti-tuberculosis campaign in Greenland 200,000 pieces were struck. On the obverse are profiles of the Danish king and queen. The reverse shows a map of the island with the native name, Kalåtdlit Nunat, above it. The coin is considered part of the Danish krone series of mintages.
In 1874, Handelsstederne i Grønland issued 50 øre and 1 krone notes, followed by 25 øre notes the next year. In 1887, 5 kroner notes were introduced. The Handelsstederne continued to issue notes until 1905. In 1911, the Kongelige Grønlandske Handel began issuing paper money, with notes in denominations of 25 and 50 øre, 1 and 5 kroner.
In 1913, colonial notes (marked Styrelse af Kolonierne i Grønland) were introduced in denominations of 25 and 50 øre, 1 and 5 kroner. From 1926, colonial notes were marked Grønlands Styrelse, the denominations below 5 kroner ceased production and 10 and 50 kroner notes were introduced.
In 1953, the Kongelige Grønlandske Handel resumed note production with 5, 10 and 50 kroner notes, whilst credit notes (Kreditsedler) for 100 kroner were also issued. These notes were produced until 1967.