The krona is the official currency of Sweden. The name is derived from the Swedish word krona, which means crown. The official currency symbol: kr. The introduction of the krona started in 1876 when it replaced the riksdaler at par due to the Scandinavian Monetary Union, of which they are part of Denmark, Norway, and Sweden. Then in 1914, The Monetary Union was dissolved, and the three states members decided to keep the name on their respective currency. The krona is managed and administered by the Sveriges Riksbank, which is the central bank of Sweden. In 1873, the Riksbank introduced the first coins in denominations of 1, 2, 5, 10, 25, and 50 öre and 1, 2, 10, and 20 kronor, followed by the 5 kronor coin in 1881. All old crown coins are invalid from 2017, leaving the new designs of 1, 2, 5 and 10 crowns as legal tender.
The 5 kronor coin front design features King Carl XVI Gustaf’s (King of Sweden) monogram (crown with his name initials (C – G) below), the issue date and the initial of the Sweden designer Ernst Nordin (EN). The reverse of the coin illustrates the denomination and the Three Crowns at the top (National Emblem of Sweden) and stylized waves. This coin is part of the 2016 series, its rim is plain, and its color is gold.
Text: CARL XVI GUSTAF, 2016, SVERIGES KONUNG, EN, SVERIGE, 5 KRONOR.