Frequently asked questions
The banknote and coin changeover
Why has the Riksbank replaced its banknotes?
The new banknotes have new security features to make them harder to counterfeit. The older banknotes, which became invalid in 2016 and 2017, were designed around 30 years ago and needed to be modernised.
Why has the Riksbank replaced its coins?
Firstly, the new coins are much smaller and lighter, which means that the handling costs for coins will be lower. Secondly, the new coins are completely nickel-free. This eliminates the risk of nickel allergy, which is a problem for many people. Thirdly, there is less environmental impact as fewer transports are needed for the same value of coins.
The new coins are also much cheaper to produce, which means that the Riksbank, and thus the state, has lower costs.
By introducing a 2-krona coin, fewer coins will be needed as the 2-krona coin will replace two 1-krona coins in many payments.
Why did the Riksbank change banknotes and coins when so many people use other methods of payment?
Even if other methods of payments, such as card payments, are increasing the Riksbank assesses that cash will remain in use for a long time to come.
Security features on the banknotes
Why are the security strips in different places on the banknotes?
The sideways position of the security strip on the 100, 200, 500 and 1,000-krona banknotes may vary somewhat from one banknote to another. This variation arises naturally in the banknote printing process, and is thus not a printing error. The size of the banknotes can also vary by +/- 1 mm and this is also a natural variation that arises in the printing process. If one measures from the left-hand side of the banknote to the left edge of the security band on the banknotes, the measurements differ as follows:
|Denomination||Number of mm from left edge of note to left edge of security strip on note|
|100||22,25 mm - 41,25 mm|
|200||23,75 mm - 42,25 mm|
|500||23,75 mm - 42,25 mm|
|1000||23,75 mm - 42,25 mm|
Why is there occasional variation in colour?
Banknotes are produced in a printing process and deviations can therefore occur, even if they are unusual. There is just such a minor colour deviation on the reverse of some 1,000 krona banknotes, where the purple colour is slightly paler than normal. This affects neither the function of the banknote nor its security features – it is valid as a means of payment and can be used exactly as normal. To check whether the banknote is valid, you should tilt it. You will then see images that change colour and images that move and shift between motifs. Read more about the security features on the banknotes.
Can banknotes of the same denomination differ in size?
Yes, the size of the banknotes can vary by +/- 1 mm and this is also a natural variation that arises in the printing process.
Invalid banknotes and coins
What do I do with any 100 and 500-krona banknotes that became invalid after 30 June 2017?
You can deposit them into your bank account until 30 June 2018.
What should I do if I have other invalid banknotes?
The Riksbank can redeem the invalid banknotes for an administration fee of SEK 100. Read more about how to redeem invalid banknotes at the Riksbank.
What do I do with any coins that became invalid after 30 June 2017?
It is no longer possible to redeem the invalid coins at the banks or the Riksbank.
Other questions about banknotes and coins
Can shops refuse to accept cash?
The main rule is that cash is legal tender and therefore shall be accepted as payment. This rule can, however, be waived by shops, restaurants, etc. In principle, therefore, a shop can refuse cash entirely or refuse to accept coins or certain denominations (e.g. 1000-krona banknotes). From a consumer perspective, it is better for me to get this information in good time (for example in the form of a sign on the shop door) so that I can choose if I want to shop there or go somewhere else.
Can banks refuse to handle cash?
The freedom of contract principle means that the obligation to accept cash as a means of payment can be waived. This freedom of contract also applies to banks in relation to their customers. Such a contract may be written or verbal. It is therefore not necessarily a question of an actual written contract, as it is sufficient for the bank to simply inform customers that it does not accept cash.
The Riksbank has no mandate to decide over cash handling by the banks, but the banks have promised to help their customers with the banknote and coin changeover. Any change in the legislation regarding cash handling is a matter for the Riksdag (the Swedish parliament) and the Government.
What are Swedish banknotes made of?
The banknotes are made of raw cotton, which gives a rough and firm texture.
How much do the new banknotes and coins cost to manufacture?
The Riksbank does not manufacture any banknotes or coins itself. For us, a banknote costs between 40 and 75 öre depending on the denomination. The 1 and 2-krona coins cost 15–20 öre and the 5-krona costs about 50 öre.
How many banknotes and coins are in circulation?
Here you can find statistics on banknotes and coins.
What do I do if I find a counterfeit banknote or coin?
Payments may not be made using counterfeit banknotes and coins. To do so deliberately is a serious crime that is punishable by a prison sentence. It is also punishable to possess counterfeit banknotes or coins with the intention of distributing them. If you detect a counterfeit banknote or coin, refuse to accept the banknote or coin. If you already have, try to remember how you might have obtained it and report it to the police. More information on counterfeit banknotes and security features can be found under genuine or counterfeit.
What should I do with damaged banknotes?
If you have a damaged banknote, you can normally take it to a bank to replace it. If the bank will not replace the banknote, you can send it to the Riksbank. More information on what to do can be found under: redeeming damaged banknotes.
How much silver is there in old coins?
|Coin||Year of minting||Percentage of silver||Comment|
|1-krona||1875-1942||80||Coins minted in 1942 can contain 40 or 80 per cent silver.|
|1942-1968||40||Coins minted in 1968 can contain 40 per cent silver or no silver at all.|
What do banknotes weigh?
The paper on which the new banknotes are printed weighs as follows (+/- 5% deviation may occur): Weight of banknotes may also vary depending on the air humidity.
Is it illegal to destroy money?
No, it is not illegal. You can do what you like with your own money. Previously, it was illegal to destroy coins, for instance, by making holes in them.
I am a foreign citizen and I have some Swedish banknotes that has ceased to be legal tender. Where can I exchange them or redeem them?
As long as you are still in Sweden, you can go to Forex Bank and ask for a currency exchange. For the older 100 and 500-krona banknotes, you will be able to do this until 30 June 2018.
If you are a tourist and discover that you have invalid Swedish banknotes after you have left the country, you can send them to the Riksbank, who will redeem them. The Riksbank will deposit the appropriate amount of money in your bank account (even if it is a foreign bank account). However, the Riksbank charges a fee of SEK 100 for every redemption case, so there is no point in trying to redeem less than SEK 100. Information on how to redeem invalid banknotes can be found on Redeeming invalid banknotes. You can also contact us by telephone: +46 8 787 09 06. Telephone hours are weekdays, 08.00–12.00.
However, the Riksbank cannot redeem coins.