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Tuesday 21 March 2017

464) Norges Bank (Central Bank of Norway): Introduction of the VIII Series of innovative/pixelated Banknotes with the theme “The Sea” in a phased manner from May 2017 to Q4 2020 and gradual withdrawal of the presently circulating Banknotes (VII Series):



464) Norges Bank (Central Bank of Norway): Introduction of the VIII Series of innovative/pixelated Banknotes with the theme “The Sea” in a phased manner from May 2017 to Q4 2020 and gradual withdrawal of the presently circulating Banknotes (VII Series):


Reasons for introduction of the new Banknotes:

Norges Bank (Central Bank of Norway) has prided itself in the genuineness and worth of its circulating Banknotes and keeping the incidence of counterfeiting minimal in Norway.

 Nevertheless, with advances in technology, counterfeiters have gained access to better methods for imitating genuine banknotes. As such, Central Banks constantly strive to develop more advanced security features so as to “raise the bar for potential counterfeiters”.

The new currency being introduced in Norway aims to do just that.

The theme of the new Series of Banknotes – “The Sea”:

Norway, has a long maritime history and at 83,000 km, the longest coastline in Europe. The seas within Norway’s maritime borders are seven times larger than the country’s land territory. The topography is varied with fjords that cut deep into the mainland and an outer coast that varies between exposed stretches of open sea and the more sheltered waters of the archipelago.

Norway’s long, gnarled coastline has shaped the identity of Norwegians individually and as a nation. The use of marine resources combined with the use of the sea as a transport artery has been crucial to the development of Norwegian economy and society.

It is therefore no coincidence that the country was named after this coastal waterway – Norvegy – Norwegen – Norway – (meaning the “Northward route”.

As such the theme of the new Series features “The Sea” reflecting its importance to Norway. Maritime icons are the spearheads of the new designs and concepts.

The combination of the retrospective, iconic Front motif and the Back’s modern, abstract cubic pattern is completely a novel concept in international Banknote design.

The competition with the theme “The Sea” for the designs of the new Banknotes:

In spring 2014, Norges Bank held a competition for the designs of motifs to be used on the new Banknote Series.

The aim of the competition was to get a wide selection of thoroughly prepared ideas/input and arrive at the best possible artistic basis for the designs of the new Banknote series and for communicating the theme “The Sea”.

Eight entries were selected by a group of experts (comprising five professional external experts and a member from the Norges Bank) to take part in the final round. The final selection of motifs was made independently by Norges Bank.

The Front of the Banknotes bears an easily recognisable motif:

Each denomination features an easily recognisable primary motif on the Front which communicate central characteristics of Norwegian maritime history. The motifs are based on proposals submitted by Metric Design and Terje Tonnessen.

On each of the Front sides of the various denominations, the designers have placed a signal flag from the maritime alphabet. The flags represent the letters N, O, R, G and E and therefore spell “NORGE” or “NOREG” (not in order by denomination).

The Back of the Banknotes bear pixelated motifs:

The pixelated Back of each Banknote contrasts with the iconic Front faces. The motifs are “merely suggested” in the cubic pattern, while the organic pattern is an abstract depiction of the sea and wind.  The patterns depict the coast, the horizon and the motif.

The cubic and organic patterns developed from Snohatta’s proposal are designed to follow the Beaufort scale {a scale of wind speed based on a visual estimation of the wind’s effects, ranging from force 0 (less than 1 knot or 1 kmph, (calm) to force 12 (64 knots or 118 kmph and above (hurricane)} and are thus an expression of wind speed. This affects the waves in the sea.

On the lowest denomination Banknote the wind speed is light and there are short cubic forms and long, gentle waves in the organic pattern. On the highest denomination Banknote, the wind is strong and creates elongated rectangular forms and short waves.

Interestingly, both the Front and Back motifs are closely associated with the sub-themes of each denomination.

Norges Bank’s Designers – Arild Yttri and Morten Johansen – have designed the new Banknotes after translating the design proposals submitted by Metric Design and Terje Tonnessen and Snohetta Design into banking requirements like security features etc.

Languages used – The Bank’s official name will be written in Norway’s two official languages – Bokmal and Nynorsk – i.e. Norges Bank and Noregs Bank.

Increasing Dimensions for rise in denominations: All the Banknotes will be printed on cotton paper and will be of 70 mm height but the width will increase with each denomination by 7.0 mm.

After two decades: The presently circulating Series was introduced around 20 years ago and enhancement of security features has necessitated the introduction of the new Series of Banknotes.

Norway to become a cashless society: Nevertheless introduction of the new Banknotes was a necessity for the undernoted reasons:

Although, Norway is on course for becoming a cashless society shortly, with innovative digital solutions having been introduced in a big way and “cash” (currency) in circulation has been drastically reduced, nevertheless, for many Norwegians, cash still remains very much a part of daily life.

In addition, “cash” also has acquired some features over the years, which are absent in all other means of payment:

As a thumb-rule, as long as, users have a choice for deciding the mode of payment, Banknotes will continue to be used as a means of exchange.

The differences between Cash and other modes of holding/transacting money:

Cash in the form of Banknotes and coins is a claim on the Central Bank. Money in the Bank, i.e. deposit money, is a claim on the Bank.

If payment is made in cash, the value of the Banknotes and coins is guaranteed by the Norges Bank.

When the value of the monetary transaction is paid in cash, the amount is immediately and personally transferred to the payees, whereas in a digital or like transaction, intermediaries participation comes in, attracting a “transaction fee” for using the Payments Gateways etc. The settlement of funds can also take some time, before it is passed into the payee’s account.

It is easy to make payments by electronically transferring deposit money from one bank account to another. However in unbanked or under-banked locations or persons not having a bank account, cash is the only means of exchange.

Even if one has a Bank account, situations may arise when making payments from one bank account to another develops a snag – because the electronic system has failed or the payment card or mobile phone does not work or because of other circumstances with the bank or the payee. In such cases, cash becomes the last resort to fall back upon, as a means of exchange.

The proposed release dates for the new Banknotes:

The new Banknote Series are proposed to be released into circulation in three phases on the following release dates, provided technical difficulties in the printing/engraving processes are not encountered:

The first two denominations – 100 Krone and 200 Krone Banknotes – will be put into circulation on 30.05.2017.

Two other denominations – 50 Krone and 500 Krone Banknotes – will be released in the third quarter of 2018 (Q3 2018).

The new 1,000 Krone Banknotes will be released into circulation in the last quarter of 2019 (Q4 2019).

The exact dates of withdrawal of the existing Banknotes will be notified in the Norwegian Legal Gazette (Norsk Lovtidend) and in Norway’s leading newspapers, well in advance in terms of guidelines/authority exercised by Norges Bank under Section 15 of the Bank Act.

The proposed dates when the presently circulating Banknotes will cease to be legal tender:

On 30.05.2018, the old 100 Krone and 200 Krone Banknotes will cease to be legal tender.

In the third quarter of 2019, the presently circulating 50 Krone and 500 Krone Banknotes will cease to be legal tender.

In the fourth quarter of 2020, the presently circulating 1,000 Krone Banknotes will cease to be legal tender.

Detailed description of Series VIII Banknotes (2017 onwards in a phased manner) having the theme “The Sea”:

The theme of the 50 Krone Banknote proposed to be released in (Q3 2018) is “The Sea That Binds Us Together”:
 The Front of a Specimen Banknote of 50 Kroner to be released by Norges Bank in Q3 2018
 An earlier prototype of a 50 Kroner Banknote released by Norges Bank in 2014 shows the Signal Flag  incorporated by the designer -  the letter "R"

On the Front of the 50 Krone  or "Femti" Kroner Banknote the primary motif is based on Utvaer Lighthouse in Solund Municipality, (in Sogn og Fjordane), Norway’s western most point. It was built in 1900.

Design patterns in brief:

Motif: Utvaer Lighthouse in Sogn og Fjordane, Norway’s western most point. Signal flag: incorporated by the designer is the letter “R”.

Description:

Sea-marks like the Utvaer Lighthouse have a long history in Norway. The first concrete example of a Norwegian sea-mark is from the “Saga Age”, when in 869 AD, Floke Vilgerdson built a cairn in Sveio Municipality that later became known as Ryvarden.

As early as 1770, Utvaer was a pilot station. The pilotage service was passed down several generations, according to the long tradition along the entire coast.

Many Lighthouses were built along the Norwegian coast, especially in the second half of the 1880s. They are highly visible and cherished landmarks.

As a traffic and transportation artery, the sea has been crucial for the Norwegian economy and society. Shipping lanes remain an important part of the transportation network binding the country together and a fine-meshed net of Lighthouses and sea-marks cover the entire Norwegian coast.
 On the Back of the Specimen Banknote of 50 Kroner, the name of the Bank is spelt in Nynorsk – "Noregs Bank"

On the Back of the 50 Krone or "Femti" Kroner Banknote, in the pattern of this face, one can vaguely see a beacon from a lighthouse. The wind is light and symbolised by the short cubic formations and gentle waves in the Organic pattern. One can also see the Constellation Ursa Major and a Nautical Chart showing classification of lighthouses on this face.

Design patterns in brief:

The Pixel Motif on the horizon: Lighthouse on the horizon. Cubic pattern: 1.6 metres per second (m/s). Organic pattern: Light Breeze, gentle waves.

Description:

A Lighthouse is a sea-mark that emits light as a navigational aid at sea. Lighthouses emit light from a system of lamps and lenses and are a part of an advanced network of sea-marks on the coast. All lighthouses along the Norwegian coast are automated – present day, but almost all of the classic lighthouses remain operational as navigational structures/aids.

Along the entire Norwegian coast there is a fine-meshed network of over 21,000 lighthouses and sea-marks. Along with safe harbours and other maritime infrastructure, they have facilitated and secured navigation along an exposed coastline and have been crucial for the development of communication, trade and culture.

Interestingly, waves and wind are not always as calm as shown on this Banknote. In squally weather, these solid way-points act as beacons to mariners to guide a safe course.

The dimensions/size of this Banknote are: 70 mm x 126 mm

The theme of the 100 Krone Banknote proposed to be released on 30.05.2017 is “The Sea That Takes Us Out Into The World”:
The Front of a Specimen Banknote of 100 Kroner to be released by Norges Bank on 30.05.2017
 An earlier prototype of a 100 Kroner Banknote released by Norges Bank in 2014 shows the Signal Flag  incorporated by the designer -  the letter "O"

On the Front of the 100 Krone or "Hundre" Kroner Banknote the primary motif is the Gokstad ship, which is Norway’s largest preserved Viking ship. The ship was built around 900 AD and was found in a burial mound in 1880. In the background one can see a Norwegian bow design, X-BOW, belonging to Ulstein Design & Solutions AS.

 These different vessel designs together suggest that the ability and desire to find new and better ways of movement have always been essential for coastal Norway and the country’s business sector.

Design patterns in brief:

Motif: The Gokstad ship from the 900s, with the Norwegian-designed X-Bow hull developed by Ulstein Design & Solutions As in the background. Signal flag: incorporated by the designer is the letter “O”.

Description:

In the Viking Age, in vessels like the Gokstad ship, one could sail along the entire coast and abroad for trade, piracy, battle or colonisation. Today, the Viking ship gives Norwegians an opportunity to travel in completely different ways. They can sail into the past and live vicariously in the world of their ancestors.

Norwegians have a long and glorious history of surviving along the coast and out at sea to fish, trade and transport goods – from Saga Age merchants to present day international shipping companies.
 On the Back of the Specimen Banknote of 100 Kroner, the name of the Bank is spelt in Nynorsk – "Noregs Bank"

On the Back of the 100 Krone Banknote, in the pattern of this face, one can vaguely see a cargo ship on the horizon. The wind is light and symbolised by the short cubic formations and gentle waves in the Organic pattern. One can also see a globe and parts of the constellation Orion on this face.

Design patterns in brief:

The Pixel motif on the horizon: Cargo ship; Cubic pattern: 3.4 metres per second (m/s); Organic pattern: Gentle breeze (symbolised by cubic formations that are slightly longer than those of the 50 Krone Banknote), Crests begin to break.

Description:

Shipping lanes were long crucial for Norway, not only for those who lived along the coast. Through inland waterways, goods from the entire country were transported to the coast, and from there, to other parts of the country and abroad. Goods purchased/bartered abroad came back to Norway through the reverse channels.

Present day – shipping and maritime industries are also important drivers of the Norwegian economy. Interestingly most of the imported goods are still transported by boat.

The dimensions/size of this Banknote are: 70 mm x 133 mm

The theme of the 200 Krone Banknote proposed to be released on 30.05.2017 is “The Sea That Feeds Us”:
 The Front of a Specimen Banknote of 200 Kroner to be released by Norges Bank on 30.05.2017

 An earlier prototype of a 200 Kroner Banknote released by Norges Bank in 2014 shows the Signal Flag  incorporated by the designer -  the letter "N"
On the Front of the 200 Krone or "To Hundre" Kroner Banknote the primary motif is a cod. Herring and mesh from a fishing net can be seen in the background. For centuries, fishing has been a key source of income and important part of the culture along the Norwegian coastline.

Design patterns in brief:

Motif: Cod and Herring. The background drawing shows the mesh from a fishing net. Signal Flag: incorporated by the designer is the Letter “N”.

Description:

It was the search for rich fishing waters which brought the very first settlers to the Norwegian coast around 11,000 years ago.

As early as the Middle Ages, what started as fishing for personal consumption and regional trade became a substantial export industry. Norwegian dried cod was an important contributor to European tables. Herring, roe and cod-liver oil were supplemental. Teeming marine life was crucial for the sustenance and viability of local communities and settlements.

No other species of fish has been praised and turned into legend as much as cod and herring. They are seen on Norwegian literature, sculpture, Municipality Coats of Arms etc. and now on the new 200 Krone Banknote. 

 On the Back of the Specimen Banknote of 200 Kroner, the name of the Bank is spelt in Nynorsk – "Noregs Bank"
On the Back of the 200 Krone or "To Hundre" Kroner Banknote, in the pattern of this face, is vaguely seen a fishing boat on the horizon. There is a fresh breeze, and the cubic formations are longer than on the 100 Krone Banknotes. The lines from a fishing net and a sea-mark can also be seen.

The pixel motif on the horizon: Fishing Boat; Cubic pattern: 8 metres per second (m/s); Organic pattern: Fresh Breeze. Wave heights are of one metre or more.

Description:

The sea and its resources have always characterised Norwegian history and culture. Norwegians have a close relationship to fishing, aquaculture and sea-food and consumes one of the highest per capita amounts of fish.

Access to fish and resources from the sea, besides food consumption has also provided a basis for trade and industry. Over the centuries, great progress has been made from the first sealer and fishing boats to the industrial trawlers and aquaculture facilities employed present day.

The dimensions/size of this Banknote are: 70 mm x 147 mm

The theme of the 500 Krone Banknote proposed to be released in Q3 2018 is “The Sea That Gives Us Prosperity”:

 The Front of a Specimen Banknote of 500 Kroner to be released by Norges Bank in Q3 2018

 An earlier prototype of a 500 Kroner Banknote released by Norges Bank in 2014 shows the Signal Flag  incorporated by the designer -  the letter "G"
On the Front of the 500 Krone or "Fem Hundre" Kroner Banknote the primary motif is a the rescue vessel RS “Stavanger”, designed by Norway’s most famous ship-builder – Colin Archer in his shipyard in Larvik and launched in 1901.

Design patterns in brief:

Motif: Colin Archer’s Boat Design; (Anders Beer Wiles, Photographer, Linn Krogh Hansen, Photographer). Signal flag: incorporated by the designer is the letter “G”

Description:

Stavanger after an active service of 37 years for Redningsselskapet (Norwegian Society for Sea Rescue) is now being preserved as a museum ship. Presently, Redningsselskapet’s operations are run from tens of stations spread across the entire country. More than 40 rescue vessels are working round the clock along the entire coast of Norway.

The sea holds vast natural resources, but is also characterised by powerful forces. Storms and wrecks are a fact of life for those who seek to harvest the riches of the sea. The availability of help to save sailors in distress calls at sea gives them greater confidence to carry on their work with renewed enthusiasm.
 On the Back of the Specimen Banknote of 500 Kroner, the name of the Bank is spelt in Nynorsk – "Noregs Bank"

On the Back of the 500 Krone or "Fem Hundre" Kroner Banknote, in the pattern of this face, an oil platform is seen vaguely on the horizon. There are high winds and the cubic formations are longer than on the 200 Krone Banknote. One can also see the North Sea gas pipeline and a fossil.

Design patterns in brief:

The pixel motif on the horizon; Oil platform; Cubic pattern: 13.9 m/s; Organic pattern: High wind. Sea heaves up, white foam from breaking waves.

Description:

Shipping, fisheries and other activities associated with the sea have long been the basis of economic growth and prosperity in Norway. During the past five decades, oil and gas activity has become one of the pillars of the Norwegian economy.

The activities have positive spill-over effects both internationally and locally. Technological innovations have followed, providing small local communities with more tools to exploit natural sea resources more efficiently and derive greater economic benefits.

The dimensions/size of this Banknote are: 70 mm x 147 mm

The theme of the 1000 Krone Banknote proposed to be released in Q4 2019 is “The Sea That Carries Us Forward”:
 The Front of a Specimen Banknote of 1000 Kroner to be released by Norges Bank in Q4 2019
An earlier prototype of a 1000 Kroner Banknote released by Norges Bank in 2014 shows the Signal Flag  incorporated by the designer -  the letter "E"
On the Front of the 1,000 Krone or "Tusen" Kroner Banknote the primary motif is a wave in the open sea, which hints at the sea being a counter-force that hones and acts as a driving force that carries Norwegians forward.

Design patterns in brief:

Motif: Wave in the sea; Signal flag: incorporated by the designer is the letter “E”

Description:

The sea has been the basis of Norway’s wealth for several centuries, and for the country’s contact with the rest of the world and for its optimism for the future. New industries and technologies have provided the coast and the activities at sea with ever newer content.

Today, climate changes and loss of bio-diversity pose challenges that must be resolved. Further commitments to maritime and marine research in the coming decades will be an important step towards ensuring sustainable development. With new knowledge and new solutions, the sea will continue to be a force that carries Norwegians (mankind) forward.

  On the Back of the Specimen Banknote of 1000 Kroner, the name of the Bank is spelt in Nynorsk – "Noregs Bank"
On the Back of the 1,000 Krone or "Tusen" Kroner Banknote, in the pattern of this face, the sea appears vaguely on the horizon. There is a strong gale and the cubic formations are longer than on the 500 Krone Banknote. The waves pile up in the organic pattern. Two depictions of a water molecule in both liquid and solid states also appear on this face.

Design patterns in brief:

The pixel motif on the horizon; Cubic pattern: 20.8 metres per second (m/s); Organic pattern: Strong gale, high waves. Dense foam is blown along the wind direction.

Description:

Norway is a small country, but a major maritime and coastal nation and an abundance of natural resources, combined with initiative, knowledge and hard work, which has made the country prosperous.

Norway has always been and in future too will be closely tied to the sea – for transportation and contact, for food and nutrients, for energy production, recreation and as a source of inspiration. The sea provides the country with challenges, positive experiences and a horizon to look out towards the infinite and to aspire for the unknown.

The dimensions/size of this Banknote are: 70 mm x 154 mm.

Presently Circulating Banknotes (Series VII – 1994 to 2020) which will be gradually withdrawn from circulation in a phased time-frame:

A spread of the presently circulating Banknote denominations in packets containing one hundred pieces each
        The Front of a presently circulating  50 Kroner Banknote

On the Front, of the 50 Krone or Kroner  or “Femti” Kroner Banknote (introduced under this Series in 1997) is depicted Peter Christen Asbjornsen (1812 – 1885) writer and collector of Norwegian folktales.

        The Back of a presently circulating  50 Kroner Banknote
On the Back of the 50 Krone or FemtiKroner Banknote are seen water lilies in tarn, inspired by the folktale “Summer night in Krogskoven”.

In the third quarter of 2019, the presently circulating 50 Kroner Banknotes will cease to be legal tender on a date to be notified by Norges Bank later through wide publicity.

        The Front of a presently circulating  100 Kroner Banknote
On the Front of the 100 Krone or Kroner Banknote or “Hundre” Kroner (introduced under this Series in 1995) is depicted Kirsten Flagstad (1895-1962), Opera singer. She was a highly regarded Wagnerian soprano and ranks among the greatest singers of the 20th century. Many opera critics called hers “the voice of the century”.

          The Back of a presently circulating  100 Kroner Banknote
On the Back of the 100 Krone or Kroner Banknote is seen the Main Hall of Folketeatret, formerly the venue of the Norwegian National Opera.

On 30.05.2018, the old 100 Krone Banknotes will cease to be legal tender.

On the Front of the 200 Krone or Kroner Banknote or “To Hundre” Kroner (introduced under this Series in 1994) is depicted Kristian Birkeland (1867-1917), scientist, magnetism researcher, inventor and co-founder of Norsk Hydro. To the left of his portrait is a stylised pattern of the Aurora Borealis and a very large snowflake. His experiment which consisted of a small, magnetised sphere representing the Earth suspended in an evacuated box is shown on the left. When subjected to an electron beam a glow of light would appear around the magnetic poles of the terella, simulating the aurora.

On the Back of the 200 Krone or Kroner Banknote is seen a map of the North Polar Regions, including Scandinavia to the right and Northern Canada to the left. A ring encircling the magnetic dip pole (located near resolute, Canada) symbolises the location of Auroral phenomena including the satellite-determined stastical location of Birkeland currents. Birkeland’s original depiction of field-aligned currents published in 1908 is shown in the lower right corner.

On 30.05.2018, the old 200 Krone Banknotes will cease to be legal tender.

On the Front of the 500 Krone or Kroner Banknote or “Fem Hundre” Kroner (introduced under this Series in 1999) is depicted Sigrid Undset (1882-1949), author, Nobel laureate in literature in 1928. Her best known work is “Kristin Lavransdatter” a trilogy about life in Scandinavia in the Middle Ages, portrayed through the experiences of a woman in her lifetime. Its three volumes were published between 1920 and 1922.

On the Back of the 500 Krone or Kroner Banknote is seen a wreath symbolising Volume I of Sigrid’s popular trilogy “Kristin Lavransdatter”, “The Wreath”.

In the third quarter of 2019, the presently circulating/old 500 Krone Banknotes will cease to be legal tender on a date to be notified by Norges Bank later through wide publicity.

On the Front of the 1,000 Krone or Kroner Banknote or “Tusen” Kroner (introduced under this Series in 2001) is depicted Edvard Munch (1863-1944), painter and print-maker. His intensely evocative treatment of psychological themes in the manner of 19th century Symbolism, which greatly influenced German Expressionism in the early 20th century. One of his most well-known works is “The scream” painted in 1893. The Munch Museum in Toyen, which opened in 1963, exhibits a collection of some 1,100 paintings, 4,500 drawings and 18,000 prints, which is the biggest collection of his works in the world.

On the Back of the 1,000 Krone or Kroner Banknote is seen an excerpt from Munch’s wall painting “The Sun”.

In the fourth quarter of 2020, the presently circulating 1,000 Krone Banknotes will cease to be legal tender on a date to be notified by Norges Bank later through wide publicity.
 A collage of earlier Banknotes and coins of the Norwegian Krone






(The presently circulating 100 Kroner and 200 Kroner Banknotes shown in this post are from the collection of Jayant Biswas. I had these Banknote images for almost four years now but with more than 100 Banknote images to write upon this post on Norwegian Banknotes was kept on the backburner. It was only when my cousin Rashmee Roshanlall sent me a link to the VIII Series of pixelated/innovative Banknotes that will start circulating in phases from May 2017 onwards, that I was galvanised into writing this piece.)


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