The present time

The Scandinavian Monetary Union came to an end in 1920 although it was not formally abandoned. Today, bank notes, cheques and credit cards have, to a large extent, taken the place of coins in transactions of any significant size. Anniversary coins, proof coins and coin sets issued for collectors have become an important part of the production of the Royal Norwegian Mint.

Commemorative coins in gold and silver were issued for the XVII Olympic Winter Games at Lillehammer in 1994. The coins carry motifs ranging from Norwegian culture to popular sports activities and modern athletics.

Both World War I and World War II made it necessary to issue coins minted in substitute metals. During both wars, one-øre, two-øre and five-øre coins were minted in iron and during World War II, 10-, 25- and 50-øre coins were minted in zinc.

>From a modest start in the Viking Age, the monetary system developed slowly through the early Middle Ages. Fulfilling an important function in the Norwegian society from the Middle Ages through more recent history and into modern times, coins have been in continual use in Norway for 1000 years.