The Riksbank’s banknote history – Tumba Bruk museum
In June 2005 Tumba Bruk museum was opened in three newly-renovated buildings in the paper mill environment at Tumba. The Riksbank has run a banknote paper mill at Tumba since 1755. From the beginning of the 1970s the banknote printing works has also been located at Tumba. The museum was opened as part of the Riksbank’s celebrations of the mill’s 250th anniversary. Tumba Bruk museum displays the Riksbank’s banknote history and the history of the paper mill. The mill’s location in Botkyrka is also depicted. There are demonstrations of the manufacture of hand-made paper with watermarks in one of the buildings.
The museum is located in the delightful mill grounds, where staff accommodation, the paper mill and the printing works are still part of a living mill environment. Tumba Bruk has been operated by Crane & Co since 2001. This is an American company that has manufactured the paper for the US dollar bills since the late 19th century.
Tumba Bruk museum has, in addition, to a comprehensive exhibition on banknotes, conference premises that may be rented and a café, Kafé Bruksbaren. It is possible to arrange conferences with up to 50 participants at the museum.
The Riksbank was founded in 1668. An important part of the Riksbank’s history is the issuing and manufacture of banknotes. The Riksbank was established as a result of the first attempts to issue banknotes in Sweden. This attempt, which was also the first regular issue of banknotes in the history of the world, was made during the years prior to the founding of the Riksbank by Stockholm Banco, which was also known as the Palmstruch bank. However, Stockholm Banco went bankrupt as the bank had issued too many notes in relation to its reserves. The state was forced to intervene to solve the crisis, Sweden's first bank crisis.
One of the Riksdag’s (the Swedish parliament’s) first measures after the Riksbank was founded was to decide to ban any future issuing of banknotes. They did not wish to see a repeat of the problem with the issuing of banknotes. However, it became clear that there was a demand for banknotes in society. The Riksbank therefore began issuing notes again from the beginning of the 18th century, what were called “transport bills”. The issuing of banknotes has since continued for 300 years. As of 1903 the Riksbank has a monopoly on issuing banknotes in Sweden.
The Riksbank has issued a commemorative banknote to mark Tumba Bruk’s 250th anniversary.
Further information on Tumba Bruk museum can be found (in Swedish only) at the museum’s own website, see link below.
Tumba Bruk museum is part of the Royal Coin Cabinet – Sweden’s National Museum of Economy. The Riksbank has a close cooperation with the Royal Coin Cabinet and has financed Tumba Bruk museum. Further information on the Royal Coin Cabinet (in Swedish, French and English) can be found at the Royal Coin Cabinet's website, see link below.
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