Denmark held claim over Greenland, inheriting the Norwegian claim over Greenland that went back to 1261. Since the Viking community had become extinct by c. 1480, this claim was without foundation until Danish rule was reestablished in 1721. Greenland became part of the Kingdom of Denmark on June 5, 1953, and gained autonomy on May 1, 1979.
Greenland has used Danish coins and currency as legal tender since 1721. The Krone existed as a unit of account (DKA) as early as 1618 with 1 Krone equal to 8 Mark or 128 Skilling. The Rigsdaler Courant (DKC) became the principal coin of the realm in the 1700s, though there were several monetary systems based on the Rigsdaler. In general 1 Ducat equal to 2 Speciedaler, 3 Krone, 12 Mark or 192 Skilling Danske until 1813. After 1813, the Rigsbankdaler (DKR) was used, with 1 Speciedaler equal to 2 Rigsbankdaler.
Denmark joined the Scandinavian Monetary Union in 1873, and Norwegian and Swedish coins were legal tender in Denmark until 1914. Denmark introduced the Krone (DKK) equal to 1 Rigsbankdaler or 0.5 Speciedaler during the currency reform of May 27, 1873.
The Danish Administration in Greenland issued Rigsdaler banknotes in 1803 and 1804, Rigsbankdaler banknotes between 1819 and 1873, and Kroner banknotes between 1873 and July 1, 1967 when Greenland ceased issuing its own banknotes. |
