Pennies from Olav Tryggvason to Erik Magnusson 


Pennies were minted in Norway from the reign of Olav Tryggvason (995-1000) to that of Olav Håkonsson (1380-1387). This was the dominant coin unit in Norway in the Middle Ages. The Old Norse system of weights included the following units of weight: ertog, øre and mark. There were ten pennies to an ertog, 30 pennies to an øre and 240 pennies to a mark. 
The relative values of mark, øre, ertog and penny
1 mark = 8 øre = 24 ertog = 240 pennies
1 øre = 3 ertog = 30 pennies
1 ertog = 10 pennies
1 penny
The standard for the penny changed several times through the Middle Ages. The motif, inscriptions, size, weight and silver content could vary significantly.

The penny was the principal coin in the Norwegian monetary system in the period 995-1387.  

Monetary units: Double-penny, penny, half-penny, quarter-penny  Issuing authorities: 
Olav Tryggvason, Olav Haraldsson, Harald Hardråde, Olav Kyrre, Magnus Berrføtt, Sverre Sigurdsson, Magnus Lagabøte, Eirik Magnusson, Håkon V Magnusson, Magnus Eriksson, Håkon VI Magnusson, Olav IV Håkonsson