SWEDEN, Plate Money. Fredrik I. 1720–1751. CU 1 Daler (136x111mm, 0.74 kg). Avesta mint. Dated 1729. Center stamp: 1/ DALER/ SILF : MYNT over crossed arrows. Four stamps in corners: Crowned FRS over 1729. Tingström,
Plate p. 303-4, stamps A/10; KM PM68. Good VF, natural glossy brown patina. Not sea salvaged. Well struck.
Ex Stanley Aberdeen Collection.
Sweden, though home to extensive copper mines, some of which have been worked continually for over 900 years, does not have a readily available source of precious metal. By the early 17th century, Sweden's precious metal reserves had been exhausted by a series of expensive foreign wars, and the government responded by striking copper coins of ever increasing size. In 1644 came the first issue of the famous plate coins, a huge 10 daler piece weighing over 44 pounds. This and the equally rare 8 daler piece were too awkward for use, but the principle proved economically sound and the idea was accepted by the people. From that point until the 1750's plate coinage was produced in denominations ranging from 1/2 to 4 daler, and remained legal tender until 1777. Many pieces then fell to the melting pot, as their usefulness as metal outweighed their intrinsic value. The most famous source for these plates has been the "Nicobar" shipwreck hoard, an East Indiaman who sank in 1783 with eight tons of copper plates as cargo and ballast, intended for the eastern trade. Most of the Swedish plate money currently on the market come from this shipwreck, and show the effects of 200 years under water.
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