The origin of the coinage of the Scandinavian states: Norway, Denmark and Sweden, is clearly English and due to the Danish conquest of England. The Runic alphabet is employed, though not by any means exclusively, on many of the early coins of Denmark and Norway. The Nor wegian series begins with Hakon Jarl (989-96), who copies the pennies of Aethelred II. In the second half of the nth century begins a coinage of small, thin pennies, which develop into brac teates. Magnus IV. (1263-8o) restores the coinage, more or less imitating the English sterlings of the time. Norway and Denmark were united under Eric of Pomerania in 1396. The money of Denmark begins with pennies of Sweyn (985-1014) which are copied from the coinage of Aethelred II.; the coins of Canute the Great (1014-1035) and Hardicanute (1036-42) are mainly Eng lish in character. With Magnus (1042-47) other influences, especially Byzantine, appear, and the latter is very strong under Sweyn Aestrithson (1047-76). Bracteates come in in the second half of the 12th century. The coinage is very difficult of classifica tion until the time of Eric of Pomerania (1396). There are im portant episcopal coinages at Roskilde and Lund in the 12th and 13th centuries. Sweden has very few early coins, beginning with imitations of Olaf SkOtkonug
of English pennies and show ing the usual bracteate coinage. The money was restored by Albert of Mecklenburg (1363-87). The thaler is introduced by Sten Sture the younger (1512-2o). The money of Gustavus Adolphus is historically interesting. Under Charles XII. there is highly
curious money of necessity. The daler is struck as a small copper coin, sometimes plated. The types include the Roman divinities. At the same time and later there was a large issue of enormous plates of copper, stamped with their full value in silver money as a countermark.
The earliest Russian coinage begins with the princes of Kiev as early as the end of the loth century; it shows strong Byzantine influence. The grand princes from the early 15th cen tury struck curious little silver pieces. The coinage was modern ized by Peter the Great, who introduced a regular gold coinage. The large silver and copper coins of his successors are very plenti ful. Nicholas I. (1825-55) introduced a platinum coinage of about two-fifths the value of gold.
The Christian coinages of the northern Balkan States are of great morphological interest. They are chiefly silver grossi, showing a mixture of Byzantine and Venetian influences. The Bulgarians had a regular silver coinage from Asien I. (1186-96) to John Sismana (i371-95). The Serbian coinage lasts from Vladislas I. (1234-40) to the middle of the 15th century. There is also a coinage of the Bans of Bosnia (late 13th to 15th century). The modern coinages of the Balkan States are of the 19th century only. The independent city of Ragusa is remarkable for the bold style of its early copper (13th cerktury, inspired by Roman models of the 4th century) and the richness and variety of its later issues.