Denmark Celebrates Friendly Cash
Jun 27, 2024
In celebration of cash as ‘a tangible symbol of a country’s identity’ Denmark’s Central Bank is inviting citizens to ‘leave their mark’ on the nation’s upcoming banknotes.
Danmarks Nationalbank launched a survey (now closed) to determine the most popular themes and motifs, ‘recognising the cultural and historical significance’ of money. The new banknote series will also incorporate cutting-edge security technologies ‘ensuring cash remains a safe and efficient means of payment’ and is slated for release 2028–29.
A banknote is both a means of payment and a piece of decorative art. A well-designed banknote must therefore combine security and technical considerations with aesthetics.
Nationalbank Governor Signe Krogstrup’s speech at the Frankfurt School of Finance and Management earlier this year reinforced the ongoing importance of cash, saying that while its usage has seen a decline, it remains a necessary payment option both for national resilience—echoing the thoughts of her Swedish counterparts—and that its anonymity and simplicity appeal to many people.
Some wish to use cash exactly because it is settled physically and does not require the use of digital devices. Some mention the wish for anonymity. Others find transactions in cash to be easier and simpler to keep account of.
For these reasons, Krogstrup expects cash use to persist ‘and for cash to be in demand for payments for quite some time.’ The new series will support this demand, and ensure Danish cash continues to be a friendly depiction of the nation’s culture, landmarks and people.