Gold Price Denmark
Denmark is a Nordic country officially known as the Kingdom of Denmark. It is the southernmost of the Scandinavian countries. Denmark is a sovereign state, with the two autonomous countries of Greenland and the Faroe Islands also belonging to the kingdom. The capital of Denmark is the city of Copenhagen and the official language of the nation is Danish. Denmark’s government is a unitary, parliamentary and constitutional monarchy.
Denmark’s natural resources include natural gas, chalk, salt, petroleum, limestone, gravel, sand and stone. The nation’s mineral reserves are limited, and the mining sector does not contribute significantly to the nation’s economy. Denmark is heavily reliant on foreign trade, and Germany and Sweden are two of its largest trading partners.
The official currency of Denmark is the Danish Krone. The krone is also used in Greenland and the Faroe Islands. The currency was introduced in January of 1875. Often times, the currency is referred to as the Danish Crown, since krone literally means crown. Krone coins have a very long history in the country, and have been minted since the 17th century. The Danish Krone is controlled and issued by the Danmarks Nationalbank. Like many other global currencies, the krone can be subdivided into 100 smaller units of currency known as ore. The krone is currently pegged to the euro via the EU’s exchange rate mechanism.
Denmark’s gold reserves reportedly stood at 66.55 tonnes as of the second quarter of 2017. Many countries hold large amounts of gold in reserves. Gold can add to a country’s financial stability as it provides an important means of diversification for bank reserves and lends credibility to the nation’s currency.
Denmark is home to the Royal Danish Mint. The mint produces uncirculated collector coins, circulation coins and Danish and Faroese banknotes.
An example of a collectible gold coin produced by the mint is the 1908-1912 Denmark Gold 20 Kroner Frederik VIII AU. This gold coin depicts King Frederik VIII of Denmark and also features the crowned and mantled national arms with inscriptions of the coin’s mint date, face value, mintmark and initials of its designer, Vilhelm Buchard Poulsen. The coin contains .2592 ounces actual gold weight.
If you are looking to add many different types of gold coins and are knowledgeable in numismatics, then coins like this may be worth consideration. If you are looking to simply acquire as many total ounces of gold as possible, however, then standard gold bullion coins may be a better bet.
Collectible coins can carry dramatically higher premiums when compared to bullion coins due to their age, relative scarcity, market conditions and other factors. Although these coins may increase in value due to their gold content, the collectibility premiums attached to such coins can also fluctuate and should be considered before purchasing.
Viking gold has also been discovered in Denmark. In 2016, three archaeologists reportedly found six gold bracelets from the viking age as well as one silver bracelet. The bracelets were thought to to date back to around the year 900.