Banknotes and Coins
User(s): Brutland and Norden, Arnautia
Pegged by: Ceretanian peceta
- 1/100: cents (centimu)
- Subunit: ¢
Coins: 1¢, 5¢, 10¢, 25¢, 50¢, £1
Banknotes: £1, £5, £10, £20, £50, £100, £200,
Inflation: 0% (Feb 2014)
Valuation: £1 = $1.48
Central Bank: Royal Nord-Brutlandese Bank
Banco Reala Nordèbrutelliense
Mint: Royal Nord-Brutlandese Mint
Zerco Reala Nordèbrutelliense
The Nord-Brutlandese livro (symbol £) is the currency of the United Kingdom of Brutland and Norden. It is divided into 100 centimu (cents). The livro was introduced in 1864, as part of the standardization of weights and measures in Brutland and Norden. The livro is a representative currency, as opposed to a fiat currency, fully backed by the kingdom's precious metal reserves. Currently, the Nord-brutlandese livro is equivalent to 30.21618 grains (2.5g) of silver, 0.612 grains (0.0397g) of gold, or 19.29 grains (1.25g) of platinum.
The many kingdoms in present-day Brutland and Norden issued their own currencies, such as the Dennlander livro, the Brute crono, and the Normarker dalero. All, with the exception of some circulating Brute crono, were made of gold and silver. Despite the turmoils of the islands and the fall of some kingdoms, their coins continued to circulate as each coin/currency has a known content of gold and/or silver.
However, the multitude of currencies and its varying precious metal content made trading harder. Compounding the problem was the practice of cutting or dividing the coins to pay for smaller purchases, as many of the coins are too valuable for small-time trade.
Consequently, in 1864, King Kyle the Fair ordered the standardization of the currency in Brutland and Norden as part of his drive to modernize the country. The livro was introduced, a corruption of the Nord-Brutlandese word for pound.
At first, the livro was also made of gold and silver alloyed with cheaper metals like copper and tin. Two standards were used: a gold livro and a silver livro. A one gold livro coin contained exactly 15.43236 grains (1g) of gold, while a silver livro contained 30.21618 grains (2.5g) of silver. The system was quickly abandoned in 1870, as the two different systems defeated the purpose of making currency easier for the Nord-Brutlandese. Moreover, the people clung to their practice of dividing the coins, despite issuing fractional livro coins.
The royal government began issuing representative currency, or paper money, in 1870. The Banco Reala Nordèbrutelliense (BRNMb; Royal Nord-Brutlandese Bank) was entrusted with the production and issuance of the new currency. The paper livro was equivalent to the silver livro, such that one paper livro was equivalent to 30.21618 grains (2.5g) of silver or 0.612 grains (0.0397g) of gold. An intense educational campaign was made for the people to accept the new paper currency. Theoretically, the paper livros were redeemable of their weight in gold or silver at the BRNMb, as such, the Nord-Brutlandese livro is considered a representative, rather than a fiat, currency.
In order to further the circulation and acceptance of the paper livro, the gold and silver coins were withdrawn from circulation. Some jurisdictions went so far as outlawing trading with the gold and silver coins. By 1885, the entire country was using paper livros and the gold and silver coins were hard to find. The gold and silver were stored at Colonella di Bruttii Royal Repository in Brutland.
The livro experienced only four major revaluations. In 1923, the Social Democrat government of Giovanni Leonardini devalued the livro to three-quarters of its value in an attempt to stave off a government default. The measure prompted mass demonstrations and riots in some cities. King Chester II himself warned to dismiss the government should it devalue the currency further. Leonardini's government was booted out in the 1924 elections, and the new Christian Democratic Prime Minister Carlo Franco Bacco managed to return the livro back to the standard by 1927.
The discovery of significant noble metal deposits prompted the government to add platinum to the standard. In 1968, the government of Jarn Spocchio passed a law declaring that the Nord-Brutlandese livro is equivalent to (thus theoretically redeemable with) 19.29 grains (1.25g) of platinum. The BRNMb had already stored a significant amount of platinum, and this enabled the government to issue more currency. This trimetallism, though arguably has a potential to be violently unstable, has served Brutland and Norden well - as paper livros will not be redeemed in precious metal by the BRNMb.
In 1976, the government of Prime Minister Christian Monelli proposed that other noble metals be added to the standard. In addition, while the trimetallic standard of Brutland and Norden had never been tested, it came close to being rocked when silver rapidly appreciated against gold in 1944, something that the government of then Prime Minister Pierro Nepa succeeded in handling to the nation's benefit. Then Treasury Minister Tyler Stubblefield and BRNMb Director Gianmatteo Biancaniello proposed introducing a gold standard: tying the Nord-Brutlandese livro primarily to gold. The livro will still be backed by silver, platinum, and other noble metals by pegging these metals to a particular amount in gold, which will be adjusted by the Royal Nord-Brutlandese Bank according to the prevailing market value of the metals, the supply and demand, and the perception of the metal. The plan was overwhelmingly approved by Nord-Brutlandese voters in a 1978 referendum. Consequently, palladium and ruthenium was added to the standard immediately, osmium and iridium in 1979, rhodium in 1980. The latest addition was rhenium, in 1997. As such, the livro is currently backed by gold, silver, platinum, palladium, ruthenium, rhodium, osmium, iridium, and rhenium, all of which are stored in the Colonella di Bruttii Royal Repository in Brutland.
Coins in Circulation
Since 1890, the coins of the Nord-Brutlandese livro included the 1-centimo, 5-centimo, 10-centimo, 25-centimo (quarter livro), 50-centimo (half livro), and 1-livro coins. The coins are made of base metals and do not contain any precious metal.
The design of the livro coins are unchanged since 1950. The denomination is on the obverse side while the coat-of-arms of Brutland and Norden is on the reverse.
grooved around the edge
Nord-Brutlandese coinage steel
Nord-Brutlandese coinage steel
The Royal Nord-Brutlandese Mint also produces commemorative coins; the Mint issues on an average 4-5 rare issues per year. Most commemorative coins have a face value of 25 livros (£25). Here are some examples of commemorative coins (click on the pictures for larger version)
Diameter: 50.8 mm
January 1, 2007
Accession of King Kyle II
Diameter: 50.8 mm
May 11, 2009
Millenium of Granthood of Voccanica
Diameter: 50.8 mm
September 2, 2011
250th Anniversary of the Union
The banknotes of the Nord-Brutlandese livro have a common design. The obverse features a portrait of the reigning monarch, the Nord-Brutlandese coat-of-arms and a silhouette of the country. Also written on the obverse is the name of the issuing authority (Royal Nord-Brutlandese Bank) and the words "the bearer is promised to sum of [bill denomination]" in Nord-Brutlandese. The banknote is signed by the reigning monarch and the chief cashier of the BRNb.
The reverse side typically features different landmarks of Brutland and Norden. Exceptions are Series I and II (King Kyle the Fair), which featured the Coat of Arms of Brutland and Norden; Series III (King Chester II), which featured historical figures; and Series VI (King Simon V), which featured the flora and fauna of Brutland and Norden.
The current circulating banknotes is the Series IX, released in 2010. The previous Series VIII and Series VII are being rapidly demonetized.
Palazzo Reala (Royal Palace)
Corteso Genera (General Court)
Tordòlucho di Stroppiana (Stroppiana Lighthouse)
Castello Vilònordense (Nordville Castle)
Castello di Montecrestese (Montecrestese Castle)
Castello Dennilliense (Dennlander Castle)
Castello Brutiense (Castle of the Brutes)
Blue, Yellow, and White
Castello Pannondriense (Pannondrian Castle)
The banknotes have features to help the blind and the visually impaired. The denomination on the upper left corner is in intaglio printing, and the hues of the bills alternate between "warm" and "cool" hues in adjacent denominations.
The Royal Nord-Brutlandese Bank redesigned the currency in 2010, representing a major overhaul of the banknotes of the livro. The Series IX banknotes were made of biaxially-oriented polyproplene, a special polymer developed by the Nord-Brutlandese company Baadsgaard & Lambert for use in banknotes. Polymer banknotes are more durable, more resistant to dirt and tear, harder to counterfeit, and are recyclable. The Series IX will be the first full set of polymer banknotes that was released in Brutland and Norden. The Royal Nord-Brutlandese bank had previously released a commemorative 2000-livro polymer banknote last September 2009, to commemorate the 250th anniversary of the marriage of King Adam III of Brutland and Queen Adrienne of Norden, the personal union that led to the creation of the United Kingdom of Brutland and Norden.
Anti-counterfeiting features were enhanced and more were added to the new set of banknotes, in order to deter potential counterfeiters. Many of the features that will be introduced were developed by the Nord-Brutlandese company Baadsgaard & Lambert. While there had been no large counterfeiting operations of the Nord-Brutlandese livro to date, the events in January 2009 proved that Brutland and Norden's currency was vulnerable to criminal elements. In addition, its high value and its position as a representative currency makes it particularly attractive. With Brutland and Norden opening up, foreign criminals might use this vulnerability to wreck Nord-Brutlandese currency and economy.
The additional security features included a transparent plastic window, holograms, microprinting, color-shifting, thermochromatic, and fluorescent inks, intaglio printing, and for higher denominations, RFIDs to track down the currencies and reveal counterfeits.