Vittmarker Crown
| |
|---|---|
| Country | Vittmark |
| Code | VFC |
| Symbol | K |
| Denominations | |
| Subunit | none |
| Subunit name | |
| Bank notes | 10,000 - 25,000 - 50,000 - 100,000 - 250,000 |
| Coins | 50 - 100 - 250 - 1,000 - 2,500 - 5,000 |
| Demographics | |
| Official users |  Vittmark
|
| Unofficial users | |
| Valuation | |
| Inflation | 1.5% |
- This article is about the Vittmarker currency. For the Crown of Vittmark see Royal Court of Vittmark or Royal family of Vittmark.
The Vittmarker Crown or Vittmark Crown (Krona in Wortsproke, plural kronor) is the national currency of Vittmark. The symbol K, used to denote the standard, is written after the number for values.
Etymology
The word "crown" is an abbreviation of "crown currency", which indicated the currency used in the Kulla Crown Domain. Although the Vittmark Crown can not be seen as the one-on-one successor of the Kulla Crown, the name clearly refers to the royal family ("The Crown") and its private holdings.
History
The Vittmark Crown was created as a monetary calculating unit in 7564, even before the creation of the currency itself. The standard was necessary to compare the currencies of the member states of the newly formed confederation, mainly the Ådaler Mark, the Hagenite Penning and the Liden Daler. These were set at a fixed rate to the Vittmark Crown so that an integration process towards a common currency could be started.
- 1 Crown = 8 Ådaler Mark, each divided into 25 tvem
- 1 Crown = 25 Hagenite Penning, each divided into 4 fiärds
- 1 Crown = 32 Liden Daler, each divided into 25 tvem
The first coins were minted in 7565rh. In order to create a stable currency, the value was set in silver, with 1 Crown equalling 1,8 grams (27.75 grain) of silver. The silver standard was abandoned in the 7590's, when the war effort in Aedeland led to a demand in currency that no longer could be backed by silver reserves. Many private banks with minting rights went bankrupt due to the lack of silver reserves or other collateral. It led to the minting rights becoming a strictly federal issue by one central bank in 7604.
As late as 7667 the Vittmark Crown became a fiat currency after decades of a hybrid system. Compensated for inflation, 1.8 grams of silver would equal about 7 Crowns today at silver standard, but in reality it would cost around 300 Crowns in fiat currency. Despite inflation, which makes prices being stated in thousands of crowns these days (abbreviated tK) no reform has ever been carried out since the currency's start in 7565.
Coins
The latest redesign of the coins took place in 7662. Since then, the 10 Crown coins was taken out of circulation in 7677, while the 5,000 Crown coin was added in 7688. Nowadays, the 50 Crown coin is the only copper-nickel alloy with an orangey, brownish color. The new 5,000 Crown coin is the only one in copper-zink, giving it a yellowish color. All the other coins are in a silvery or grayish in a nickel-aluminium alloy, with the 100 Crown being the smallest and the 2,500 the largest and heaviest.
Obverse
Current coinage bears the head of King Asgard of Vittmark (facing left), but plenty of coins with King Eilert of Vittmark (facing right) are still in rotation. The head side states "Vittmarkarnas Förenade Länder".
Reverse
The reverse mainly shows the value indication with one of the Vittmarker symbols above and the word kronor below. The symbols include a fox, a salmon, a trunkbull, a dry stone city wall and a seagull.
Banknotes
The federal bank has started to replace the banknotes with a new series from 7677 on. In case a new 500,000 banknote will be added it will get a green color scheme, since that one was in use for the now defunct 5000 crown note.
Older banknotes in a similar color scheme, but with an Orkanan Exemplar on the front and a stylised map on the back are still in rotation. The new series have modern safety features like barcode numbering and a holographic reflective seal, on top of older features like watermark, completing half prints on both sides and typical fine print on specially designed paper.
| Amount | Launched | Main color | Front image | Back image |
|---|---|---|---|---|
| 10,000 | 7682 | Blue | City landscape | Abstract triangles |
| 25,000 | 7684 | Red | Bridges | Abstract rectangles |
| 50,000 | 7677 | Yellow and orange | Flowers (sunflower) | Abstract circles |
| 100,000 | 7687 | Brown | Birds (owl) | Abstract hexagons |
| 250,000 | 7680 | Purple | Lighthouse | Abstract diamonds/squares |