20 Kroner Denmark Frederik VIII Gold Coin | 1908 - 1912

20 Kroner Denmark Frederik VIII (1908-1912) — Danish 20-kroner coin of the Scandinavian Monetary Union (SMU) standard with the portrait of King Frederik VIII struck at the Royal Danish Mint Copenhagen

The 20 Kroner Denmark Frederik VIII gold coin is a classic Danish 20-kroner coin in the Scandinavian Monetary Union (SMU) standard, struck at the Royal Danish Mint Copenhagen (Den Kongelige Mønt) between 1908 and 1912 — the period of the short 6-year reign of King Frederik VIII (1906-1912), with a gross mass of 8.9606 g, a pure-gold mass of 8.0645 g, a 0.900 fineness (Crown-Gold-style alloy), a 23.0 mm diameter and a face value of 20 Danish kroner (DKK) as historic legal tender of the Kingdom of Denmark. The obverse features the portrait of Frederik VIII (bearded, right profile) with the inscription FREDERIK VIII DANMARKS KONGE and the year of striking, the reverse the royal coat of arms of Denmark (3 lions in a blue field with 9 hearts) with a crown, 20 KRONER, year. The designer of the pattern is Heinrich Goldschmidt. SMU 20-kroner standard: 8.9606 g gross, 8.0645 g pure gold = equivalent to 25 French LMU francs (gold parity 1 krone = 0.40322 g of gold). Royal Danish Mint Copenhagen mintmark: heart ♥ — introduced 1842. The coin is VAT-exempt in the EU as a legal-tender coin with 0.900 fineness struck after 1800, with a typical market premium of 6-12% over spot.

Technical specification

Why 20 Kroner Frederik VIII deserves a place in your portfolio

• Scandinavian Monetary Union (SMU) standard — alternative currency union parallel to the LMU: 20 Kroner Frederik VIII is a classic Danish 20-kroner coin of the Scandinavian Monetary Union standard — an alternative currency union to the LMU encompassing Denmark, Sweden and Norway (1873-1914). The SMU was a monometallic gold union (in contrast to the bimetallic LMU 15.5:1) — 1 krone = 0.40322 g of pure gold. SMU 20-kroner standard: 8.9606 g gross, 8.0645 g pure gold = equivalent to 25 French LMU francs. The SMU was a modern solution (gold standard from the beginning, without the problems of the bimetallic LMU) — functioned for 41 years (1873-1914) until the outbreak of World War I.
• Short 6-year reign of Frederik VIII (1906-1912) — limited series: Frederik VIII (1843-1912) reigned in Denmark for only 6 years (1906-1912) — relatively late ascension to the throne (63 years old), died suddenly in Hamburg on 14.05.1912 (returning from holiday). The short reign means a limited number of 20-kroner coins (1908-1912 = 5 years of active issue), a higher numismatic premium than mass-struck series (e.g. 20 kroner Christian X 1913-1931, 19 years of reign). The Danish 20 Kroner Frederik VIII is a practical and collectable SMU 20-kroner coin with a short production window.
• Royal Danish Mint Copenhagen — signature ♥ (heart) as mintmark: 20 Kroner Frederik VIII was struck at the Royal Danish Mint Copenhagen (Den Kongelige Mønt, founded 1739, today Royal Danish Mint), with a characteristic mintmark in the form of a heart ♥ (introduced 1842 — a unique mintmark among European mints). The mint produces Danish coins to this day — it is the only official mint of the Kingdom of Denmark.
• Royal coat of arms of Denmark — 3 lions in a blue field with 9 hearts: the reverse of the 20 Kroner Frederik VIII features the royal coat of arms of Denmark — 3 lions standing one above the other in a blue field (heraldically, the blue is not visible on the coins, indicated by relief), with 9 hearts distributed between the lions and around them. The coat of arms derives from the 12th century (King Knut V Magnusson, c. 1146-1157) and is one of the oldest state coats of arms in Europe in continuous use. The 3 lions represent royal power, the 9 hearts — Danish counties or historic provinces (various heraldic interpretations).
• Market premium 6-12% over spot — higher than LMU 20F, but accessible: 20 Kroner Frederik VIII has a typical premium of 6-12% over spot — higher than classic LMU 20F coins (Vreneli 2-5%, Marianne and Rooster 3-6%) due to lower SMU vs LMU recognisability on the European secondary market (LMU is significantly more popular — deep French, Italian, Swiss market). The premium reflects the unique position of the SMU as an alternative Scandinavian currency union. For an investor building a portfolio of European monetary unions (LMU + SMU), the Danish 20-kroner coin is a representative element of the SMU.

History of 20 Kroner Frederik VIII (1908-1912) — Danish SMU 20-kroner coin of a short reign

The Scandinavian Monetary Union (SMU, Skandinaviska Myntunionen) was established by the treaty of 18 December 1872 between Denmark and Sweden — it entered into force on 1 January 1873. Norway joined the union on 16 October 1875, completing the three Scandinavian states. The SMU was a monometallic gold union — in contrast to the bimetallic LMU (Latin Monetary Union, 1865), which had a silver-gold ratio of 15.5:1. SMU standard: 1 krone = 0.40322 g of pure gold, 0.900 fineness. The krone replaced earlier national currencies: in Denmark — the rigsdaler (Danish thaler), in Sweden — the riksdaler riksmynt, in Norway — the speciedaler.

The format of the SMU 20 kroner (the highest gold denomination) was calculated as the equivalent of 25 French LMU francs — 20 kroner × 0.40322 g = 8.0645 g of pure gold ≈ 25 × 0.290 g = 7.25 g of LMU franc equivalent. Despite a slight value discrepancy, the SMU 20 kroner was considered the equivalent of 25-30 LMU francs in trade contexts. Full interchangeability in Scandinavian circulation between Denmark, Sweden and Norway — 20 Danish kroner = 20 Swedish kroner = 20 Norwegian kroner.

Frederik VIII (1843-1912) — son of Christian IX "Europe's Father-in-Law" (so called because he married off his daughters to monarchs of almost all European countries: Alexandra of Denmark became the wife of Edward VII of Great Britain, Dagmar of Denmark — Empress Maria Feodorovna, wife of Alexander III of Russia, William of Denmark — George I King of Greece). Frederik VIII ascended the throne on 29 January 1906 after his father's death — he was already 62 years old at the time, making him one of the oldest monarchs to ascend the throne in European history. His reign was short — only 6 years, until his sudden death on 14 May 1912 in Hamburg (he was returning from a holiday in Nice and Cannes).

20 Kroner Frederik VIII was struck in 5 years (1908, 1909, 1910, 1911, 1912) — the first issues began 2 years after the ascension to the throne, the last issue ended in the year of the king's death. The total mintage of the 5-year production was relatively low (several hundred thousand pieces, significantly less than 20 kroner Christian X 1913-1931 — 19 years of reign, several million pieces) — which makes the 20 Kroner Frederik VIII series a limited-mintage series. Frederik VIII's successor was his son Christian X (1870-1947), who reigned for 35 years (1912-1947) — through the First and Second World Wars — and is known for personal resistance to the German occupation of Denmark (1940-1945, he rode horseback through Copenhagen daily during the German occupation, a symbol of Danish resistance).

The Scandinavian Monetary Union dissolved after the outbreak of World War I in 1914 — the suspension of the convertibility of gold into paper currency by all 3 member states (Denmark, Sweden, Norway) made it impossible to maintain the common gold standard. The formal decision on the dissolution of the union was made in 1924 (Norway left the union first), and Denmark and Sweden continued bilateral convertibility until 1924. Despite the formal dissolution of the SMU, the krone remained the name of the currency in Denmark, Sweden and Norway to this day (DKK, SEK, NOK) — originally with 1:1 parity between the 3 countries, today with independent exchange rates. All 3 Scandinavian countries have remained outside the Eurozone (Denmark has had an opt-out since 1992, Sweden — referendum 2003 rejected the euro, Norway — has never joined the EU).

Obverse — portrait of Frederik VIII by Heinrich Goldschmidt

The obverse of the 20 Kroner Frederik VIII coin features the portrait of King Frederik VIII — King of Denmark (reign 1906-1912) — in right profile, with characteristic beard (typical European male style of the second half of the 19th century) and hair combed back. Frederik VIII is depicted without a crown — bareheaded, as a constitutional monarch (Denmark had a constitution from 1849, constitutional monarchy). Around the portrait runs the inscription FREDERIK VIII DANMARKS KONGE (Frederik VIII King of Denmark) in a semicircle from the top, and under the portrait the year of striking (e.g. 1909, 1911, 1912). The mint signature ♥ (heart) is discreetly placed next to the date.

The obverse designer is Heinrich Goldschmidt — Danish medallist and engraver of the Royal Danish Mint Copenhagen (Den Kongelige Mønt) of the second half of the 19th and early 20th centuries. Goldschmidt also designed the earlier series of 20 Kroner Christian IX (1873-1900) — Frederik VIII's father — maintaining a consistent portrait style of Danish monarchs. Goldschmidt's style featured classical Danish portrait realism — faithful reproduction of the king's facial features (beard, shape of the nose, eyes) without idealisation or allegory — typical for Scandinavian monarchical numismatics.

Frederik VIII (1843-1912) was the son of King Christian IX (reign 1863-1906), who was known as "Europe's Father-in-Law" — Christian IX married his children to the monarchies of almost all European countries: daughter Alexandra of Denmark became the wife of Edward VII of Great Britain (mother of King George V), daughter Dagmar of Denmark became the wife of Tsar Alexander III of Russia (mother of Tsar Nicholas II, the last tsar), son William of Denmark became King of Greece as George I (founder of the Greek dynasty), grandson Christian X (son of Frederik VIII) became King of Denmark in 1912, and another grandson Haakon VII became King of Norway in 1905 (after the referendum of Norwegian independence from Sweden).

The short reign of Frederik VIII (1906-1912) — only 6 years — was a period of political stabilisation of Denmark and continuation of the father's policy. Frederik VIII died suddenly on 14 May 1912 in Hamburg, returning from a recreational holiday in Nice and Cannes. The circumstances of his death were tragic — the king went on a lone evening walk in front of the hotel, collapsed and was found by passersby; no one recognised him, so he was initially taken to the hospital morgue as unknown. Only the next day did the royal family identify the body. The successor was his son Christian X (reign 1912-1947).

Reverse — royal coat of arms of Denmark (3 lions with 9 hearts) with crown

The reverse of the 20 Kroner Frederik VIII coin features the royal coat of arms of Denmark (Det danske rigsvåben) in the central composition — 3 lions standing one above the other in a blue field (heraldically the blue is not visible on the coins, indicated by relief), with 9 hearts distributed between the lions and around them. Above the coat of arms is the royal crown, and the surroundings form a laurel wreath or plant motifs. Around the coat of arms runs the face value 20 KRONER and the year of striking. The mintmark ♥ (heart, Royal Danish Mint Copenhagen) is discreetly placed next to the date.

The royal coat of arms of Denmark (Det danske rigsvåben) derives from the 12th century — the first seals with the coat of arms of the 3 lions come from the time of King Knut V Magnusson (reign c. 1146-1157, King of Schleswig) and are one of the oldest state coats of arms in Europe in continuous use. The 3 lions represent royal power and dignity (the lion is a classical heraldic royal symbol, used by most European monarchies — English, Scottish, Czech, Polish etc.). The number 3 may symbolise the 3 historic Danish kingdoms (Jutland, Danish Islands and Scania — before the loss of Scania to Sweden in 1658 by the Treaty of Roskilde).

The 9 hearts distributed between the lions have various heraldic interpretations: according to one theory they represent 9 Danish counties (or historic provinces); according to another — they are decorative coat-of-arms elements (individual helms, "seeblätter" — symmetric plant motifs). The most popular modern interpretation: the hearts are stylised leaves or stars, decorating the heraldic background. The number 9 has been constant since the 13th century, although the original seals had a variable number of decorative elements. The modern Danish state coat of arms (small, used by institutions) has 3 lions without hearts, and the large royal coat of arms (Royal Arms) has 3 lions with 9 hearts and a crown — in the same form as on the 20 Kroner Frederik VIII.

The royal crown above the coat of arms on the 20 Kroner Frederik VIII is the crown of Danish monarchs — the formal crown of Christian V (from 1671), although on the coins represented in simplified heraldic form. The crown was used during the coronation of Danish kings until 1849 (when the constitution was introduced, last coronation of Frederik VII), later it had a ceremonial function. The modern Royal Danish Mint Copenhagen (Royal Danish Mint, since 1975 — Den Kongelige Mønt) strikes Danish circulating coins to this day, with the ♥ mintmark continued as the traditional hallmark of the Danish mint.

What to look out for when buying

Check the vintage of the 20 Kroner Frederik VIII coin — the issue was conducted for only 5 years (1908, 1909, 1910, 1911, 1912) with varying annual mintages. All 5 vintages are available in secondary trade, but the year 1912 (the year of the king's death) may have additional collector value due to the end of the series. The most commonly encountered are the years 1909-1911 (middle of the reign, highest mintages). The collector value of specific vintages in UNC grades can be +30-80% over mixed years.

The market premium on 20 Kroner Frederik VIII typically holds in the range of 6-12% over spot — higher than classic LMU 20F coins (Vreneli 2-5%, Marianne and Rooster 3-6%) due to lower SMU vs LMU recognisability on the European secondary market. The SMU is popular mainly in Scandinavian countries (Denmark, Sweden, Norway), while the LMU is popular throughout continental Europe (France, Belgium, Switzerland, Italy). For an investor building a complete portfolio of 19th/20th-century European monetary unions (LMU + SMU), the higher premium is acceptable at the cost of geographic diversification.

Check the mint of striking — all 20 Kroner Frederik VIII coins are struck exclusively at the Royal Danish Mint Copenhagen (Den Kongelige Mønt, mintmark ♥ heart — introduced 1842). The absence of the ♥ mintmark or another mintmark most likely indicates a counterfeit (the Royal Danish Mint Copenhagen was the only mint of the Kingdom of Denmark in this period). The ♥ mintmark is unique in European mint heraldry — it immediately identifies the Royal Danish Mint as the manufacturer.

Check the condition of the coin and authenticity — 20 Kroner Frederik VIII in the 0.900 alloy is harder than pure 999.9 gold, but after 110-115 years since striking retains typical circulation traces: light wear, fine scratches, natural surface patina. For an investment strategy, VF (Very Fine) and EF (Extremely Fine) grades are acceptable — sufficient to confirm authenticity and gold content. AU (About Uncirculated) and UNC (Uncirculated) grades are sought after by collectors and have a higher premium. Each coin is delivered in an individual protective capsule to preserve the surface.

Why GoldInvest24

• Full cross-section of coins of European monetary unions of the 19th/20th centuries: in our catalogue you will find all 5 coins of package 108 — 20F Marianne and Rooster (France), 20F Cérès Second Republic (France), 10F Marianne and Rooster (France), 20 Lire Umberto I (Italy), 20 Kroner Frederik VIII (Denmark) — which allows building an LMU + SMU portfolio as a direct reference to 19th-century European monetary integration before the Eurozone.
• Danish SMU 20-kroner for a Scandinavian portfolio: 20 Kroner Frederik VIII offer in mixed-years format (5 vintages 1908-1912) with a 6-12% premium over spot — the classic Danish SMU 20-kroner coin, indispensable for building a portfolio of Scandinavian SMU gold coins (Denmark + Sweden + Norway). For collectors of short historic series, specific vintages in AU/UNC grades are also available.
• PL / DE / EN language versions: full technical descriptions and specifications in three languages for convenient service of the Polish, German and international markets — particularly valuable for Danish historic coins with numismatic terminology in three languages (Danish Frederik VIII, German Friedrich VIII., English Frederik VIII).
• Current precious-metals quotes: spot data for comparing offer prices with current market valuation — check the current precious-metals prices before purchase to assess the effective premium on Danish SMU coins.
• Full precious-metal categories in one shop: access to gold investment coins, bars, silver, platinum and palladium — all from a single customer account, with full PL/DE/EN support.

Comparison of 5 coins in package 108 — Marianne and Rooster, Cérès II Rep., 10F Marianne, Umberto I, Frederik VIII

See the entire gold investment coins category available at GoldInvest24.

FAQ — common questions about 20 Kroner Denmark Frederik VIII

What is the 20 Kroner Denmark Frederik VIII?

20 Kroner Denmark Frederik VIII is a Danish 20-kroner coin of the Scandinavian Monetary Union (SMU) standard, struck at the Royal Danish Mint Copenhagen between 1908 and 1912 with a gross mass of 8.9606 g, a pure-gold mass of 8.0645 g, a 0.900 fineness and a 23.0 mm diameter. The obverse features the portrait of Frederik VIII (bearded, right profile) with the inscription FREDERIK VIII DANMARKS KONGE, the reverse the royal coat of arms of Denmark (3 lions in a blue field with 9 hearts) with a crown, 20 KRONER, year. The designer of the pattern is Heinrich Goldschmidt. Royal Danish Mint mintmark: ♥ (heart). Short 6-year reign of Frederik VIII (1906-1912).

What is the technical specification of 20 Kroner Frederik VIII?

Gross mass 8.9606 g (gold + copper), pure-gold mass 8.0645 g (= equivalent to 25 French LMU francs), 0.900 fineness (Au 90% + Cu 10%, Crown-Gold-style alloy), 23.0 mm diameter, approx. 1.5 mm thickness, face value 20 Danish kroner. Mint: Royal Danish Mint Copenhagen (mintmark ♥ heart). Obverse: Frederik VIII (bearded), FREDERIK VIII DANMARKS KONGE — Heinrich Goldschmidt. Reverse: royal coat of arms of Denmark (3 lions with 9 hearts) with crown, 20 KRONER, year.

What is the history of 20 Kroner Frederik VIII?

SMU established 18.12.1872 between Denmark and Sweden, Norway joined 16.10.1875. Monometallic gold standard (1 krone = 0.40322 g of gold). 20 kroner SMU = 8.0645 g of gold = equivalent to 25 French LMU francs. Frederik VIII (1843-1912) — son of Christian IX "Europe's Father-in-Law", reign 1906-1912 (short 6 years). Died suddenly on 14.05.1912 in Hamburg. Successor: Christian X (1912-1947). 20 Kroner Frederik VIII struck 1908-1912 (5 years) at the Royal Danish Mint Copenhagen. SMU dissolved after WWI 1914-1924.

How does 20 Kroner Frederik VIII differ from the other coins in package 108?

20 Kroner Frederik VIII (DK, 1908-1912) — Danish SMU 20-kroner coin (NOT LMU), 8.0645 g gold, Copenhagen mint (♥), Danish coat of arms with 3 lions and 9 hearts, premium 6-12%. 20F Marianne and Rooster (FR, 1899-1914) — French LMU 20F, 5.80645 g gold. 20F Cérès Second Republic (FR, 1848-1851) — pre-LMU, short issue. 10F Marianne and Rooster (FR, 1899-1914) — small LMU fraction. 20 Lire Umberto I (IT, 1879-1897) — Italian LMU 20F, Rome Mint. The other 4 coins are LMU (France + Italy), the 20 Kroner is the only SMU (Denmark).

For whom is 20 Kroner Frederik VIII a practical choice?

For investors building a portfolio of 19th/20th-century European monetary unions (LMU + SMU) — the Danish 20 Kroner Frederik VIII represents the Scandinavian Monetary Union as an alternative to the LMU. For collectors of short historic series (5-year production 1908-1912). For those interested in 19th/20th-century Scandinavian history (SMU, Oldenburg-Glücksburg dynasty, Christian IX "Europe's Father-in-Law"). For building a Scandinavian gold portfolio (Denmark + Sweden + Norway).

What is the LBMA, VAT, CGT and IRA status of 20 Kroner Frederik VIII?

LBMA Good Delivery — NOT directly (historic coin, not a current bullion issue; the Royal Danish Mint Copenhagen has had the status historically, but current LBMA refers to ongoing production). VAT in the EU — EXEMPT (historic legal-tender coin, 0.900 fineness = minimum, struck after 1800, market price ≤180% of gold value — meets EU Directive 2006/112/EC Art. 344 and the Polish VAT Act Art. 122). CGT-free in the UK — NO (CGT-free status applies only to British legal tender). IRA-eligible in the USA — NO (the IRS admits only American coins and selected modern bullion).

How do I buy 20 Kroner Denmark Frederik VIII at GoldInvest24?

Place an order in our shop with access to the gold investment coins category, the full range of coins of European monetary unions of the 19th/20th centuries (LMU + SMU) — including 20 Kroner Frederik VIII (Denmark, SMU) alongside 20F Marianne and Rooster (France, LMU), 20F Cérès Second Republic (France), 10F Marianne and Rooster (France) and 20 Lire Umberto I (Italy, LMU). Check the current gold quotes to compare the premium against the current spot price. Technical descriptions and specifications are available in PL / DE / EN language versions.