In 1987, two fishermen were out fishing at Quoin Point (not far west of Cape Agulhas) when they found one of the most unusual shipwreck hoards ever found along the South African coast, thousands of large copper plates, issued and used as money more than 200 years before in Sweden. The Nicobar was en route to India with a large cargo of copper plate money as bullion but sank in 1783 at Quoin Point with the loss of all but 11 of the lives on board. This hoard is the single largest hoard of plate money ever discovered, and these pieces are eagerly sought after by collectors today.
Up for sale here is a copper 2 Daler plate minted in 1750. This coin was originally rectangular in shape, just like all the other plate money coins, but 2 centuries of corrosion under the sea has eaten away quite a bit of this coin, but 3 of the 4 corner stamps (with the date) and the centre stamp (bearing the denomination) are still clearly legible. The weight is 726 grams. Be one of the few people who can boast about owning such a uniquely individual coin with such an amazing story behind it!
From 1624, (Swedish) daler were issued in copper as well as silver. Because of the low value of copper, large plate money (plåtmynt) was issued. These were rectangular pieces of copper weighing in some cases several kilograms, with the largest one worth 10 daler and weighing almost 20 kilograms (44 lb)). They circulated until 1776. As silver became scarce, the silver daler rose in value relative to the copper daler, with the exchange rate between the two eventually being set at a ratio of three to one.
The cumbersome size and weight of plate money eventually prompted Sweden to become the first country in Europe to issue banknotes. These were issued by Stockholms Banco in 1661. The notes lost much of their value due to overproduction but succeeded in alleviating the immediate problem. They were issued until 1667. In 1681, the silver daler was debased, so that one riksdaler became equal to two silver dalers. A further debasement in 1712 resulted in one riksdaler equalling three silver daler. At the end of July 1768 the heavy plate money was abolished but reintroduced on 4 August out of need.
Source: https://en.wikipedia.org/wiki/Swedish_riksdaler
