Do you have any kroner that you’ve been saving for a rainy day? You’ll need to trade them for new banknotes by the end of May 2018.
Last year, Norges Bank phased in brilliant new 100- and 200-krone bills, while keeping the old ones in circulation for a year. On May 30, 2018, the old 100- and 200-krone notes will expire and no longer be accepted in stores as valid currency.
According to Norges Bank, 22 million copies of the old 100 and 200-krone banknotes have already been removed from circulation and replaced with new ones. Nevertheless, more than half of all 100-krone banknotes and one-third of the 200-krone banknotes are still in public use- corresponding to 11.7 and 10.3 million banknotes respectively.
Exchanging Old Bills
Until the end of May 2018, you may spend the old kroner in stores or deposit them into a Norwegian bank account. After May, some stores and banks may still accept the old bills, but only Norges Bank is obligated to exchange them. If you can’t make it to a Norwegian bank in the next two weeks, this does not mean that you are out of luck. The notes will retain their value and Norges Bank will swap old notes for at least 10 years. The exchange process will become more cumbersome after the May deadline, requiring paperwork and an explanation for tardiness.
New 50 and 500-krone notes will be launched in October. One year later, the old banknotes will be invalid. The new 1,000 krone bill will come out in the 4th quarter of 2019. And one year later, the old banknotes will expire.
Modern Look, Historical Significance
Of the new series of banknote designs, the 100- and 200-krone bills were the first denomination to be released. This is the first time in history that Norwegian notes have not incorporated portraits of people into the design. Each of the new denominations highlights a different aspect of the sea’s importance for Norway in terms of industry, history and culture. A puffin watermark appears in the top right corner on all denominations. The reason for replacing the old banknotes was the need for updating security features to help prevent fraud.
The orange 100-krone note has an image of the Gokstad ship, Norway’s largest preserved Viking ship, as the main motif. The graphic on the back shows a cargo ship on the horizon, and the theme is “the sea that brings us out into the world.”
The blue 200-krone note features a codfish on the front. On the back: a fishing boat on the horizon. The theme of the note is “the sea that gives us food.”
View all of the new banknote designs at Norges Bank.