Kingdom of Denmark, Christian I, Hvid

Toward the end of the 14th century, Queen Margaret I introduced a coinage reform to Denmark, which was geared to the coinage system of the North German neighbors. The queen had hvids minted, coins of 4 pennings, corresponding the witten of the northern German cities. They bore the lamb of God with a flag and on the reverse a crest. Margaret's issues were negligible and carried out in the name of the underaged King Erik VII. Nevertheless she set the cornerstones for the development of the Danish currency in the 15th century. The hvid became the major coin in Denmark in the course of the 1440s, when it was minted in large quantities. Additionally in 1444, a large silver coin was issued for the first time: the so-called skilling (shilling) equaling 12 pennings. These two coins, the hvid and the skilling, determined Danish coinage for the whole of the 15th century.

ca. 1480 n. Chr.