![]() As a basis for calculation of the velocity of coin circulation within medieval Norway the total value of coins is estimated at some 39,600 marks (13,200 marks burnt silver) in the 1280s, when coinage in Norway reached a peak in sophistication. velocity of circulation is brought into the equation. The assumption behind this calculation is that there was a one-to-one relationship between the number of coins issued and their value in circulation. Quantitative analysis suggests that the number of coins in circulation in medieval society must either have been enormous, to play any significant role, or their value was simply not great enough to be anything but insignificant. The eleventhcentury iconographical representations of St Olav in coinage are, by a margin, the earliest known representations of St Olav in the capacity of King and Saint. This article focuses on the coinage of Olav Haraldsson and the use of St Olav as symbol in eleventhcentury Danish coinage and in later medieval Norwe gian coinage. 1043, struck in the name of his son, Magnus the Good, King of Denmark 1042–47. This is also the case where Olav is portrayed as Saint in the issue from Hedeby in c. It is possible to identify several varieties in Olav’s Norwegian coinage as King in the 1010s and 1020s. In comparison with individual sculpture and altar frontals, images in coinages often survive in several different editions due to coins being produced in large numbers involving the use of different dies, often cut by different diecutters. ![]() This time it was in 1910 and on Norwegian gold coins, as a celebrated symbol for the new independent state of Norway. After the Reformation in 1537 four centuries passed until St Olav returned to the national Norwegian coinage. Nidaros used St Olav, the perpetual King of Norway, as the main symbol for their coinages in the 1520s and 1530s. 1043 he disappears from medieval coinage to resurface only when the archbishops in. The coinages related to St Olav were not, however, a permanent feature. Although rudimentary in style, these images predate any other known image of St Olav by more than hundred years. The oldest iconographical witnesses to Olav Haraldsson and St Olav are found in coinage from the 1010s, 1020s and 1040s. On the basis of the Norwegian experience, I discuss to what extent institutional design can guard against misinformation or misaligned incentives and to what extent the Norwegian petroleum fund design could be useful for underdeveloped but resource rich countries. ![]() These trends are compared with the trends in similar expenditures in Sweden and Denmark. Over the last 15 years expenditure on disability and sick leave has increased rapidly while expenditure on transportation infrastructure has stagnated. While the Norwegian savings policy has been successful from a macroeconomic perspective it has been less so from a microeconomic perspective. stipulates, and the guideline itself is compared to the Hicksian permanent income rule for wealth preservation. Actual savings of petroleum revenues are compared with what this guideline. The Norwegian parliament has endorsed a savings guideline aimed at preserving petroleum wealth. In recent years (2009–2011), this has amounted to about 25% of government revenues. The Norwegian government gets a substantial income from oil and gas extraction, both through taxes and partnerships with oil companies. Accounting for the remarkable and exceptional nature of the find, this article concludes that both the penny and its modern archaeological and numismatic context offer plausible evidence that this find is genuine. In assessing the evidence, this article considers the penny's appearance and its relationship to other Norwegian coin finds, both registered and unregistered, and within Norway and further afield. ![]() There is little doubt that the coin is a genuine Viking penny, struck during the reign of Olaf the Peaceful (the epithet is Kyrre in Norwegian, 1067-1093) what is more complex, however, is whether the discovery constitutes a genuine find or an elaborate hoax. To this end, this article considers the penny's numismatic and archaeological context, and engages with the debate from a Norwegian perspective. More recently, however, the veracity and validity of this find have been called into question. The discovery of a Norwegian Viking penny on 18 August 1957, at Naskeag Point, the prehistoric Native American settlement close to Blue Hill Bay, Brooklin, Hancock County, ME, USA (also known as the "Goddard site"), has long been regarded as material evidence for contact between the continents and cultures of North America and Europe during the Viking Age. ![]()
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