A recent reinterpretation of the runic inscription on the Forsa Ring offers a fresh perspective on the monetary system of the Viking Age, marking it as the oldest documented record of value in Scandinavia. The inscription sheds light on how the Vikings managed fines in a flexible and practical manner.
The inscription on the Forsa Ring (Forsaringen in Swedish), which dates back to the 9th or 10th century, has long been a subject of study. Traditionally, the phrase “uksa … auk aura tua” was believed to mean that fines had to be paid with both an ox and two ore of silver, suggesting a dual payment system. However, this interpretation has now been challenged.
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Rodney Edvinsson, a Professor of Economic History at Stockholm University who conducted the study, explains that the previous translation implied a cumbersome process where the guilty party would need to pay with two different types of goods, which would have been both impractical and time-consuming. His research is published in the journal Scandinavian Economic History Review.
Old ink drawing of the Forsa Ring with the runic inscription. Image credit: Lars Kennerstedt/the Swedish National Heritage Board
The Forsa Ring, an iron ring from Hälsingland, is thought to have been used as a door handle and is currently the oldest known preserved legal text in Scandinavia. The ring’s inscription describes fines for a specific offense, where payment was to be made in the form of oxen and silver. A key shift in understanding comes from reinterpreting the word “auk” from “and” to “also,” which alters the meaning. Here is how the inscription now reads in translation:
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One ox and [also/or] two öre of silver to the staff for the restoration of a sanctuary in a valid state for the first time; two oxen and [also/or] four öre of silver for the second time; but for the third time four oxen and eight öre of silver.
Under the new interpretation, fines could be paid either with an ox or with two ore of silver, where an ore was approximately 25 grams of silver.
This reinterpretation suggests a much more adaptable system, allowing fines to be paid in either oxen or silver. This flexibility meant that individuals could meet their financial obligations based on the resources they had available, whether livestock or precious metals. According to Edvinsson, this understanding aligns better with the way the system functioned in later regional laws and is crucial for our comprehension of both Scandinavian and European monetary history.
Edvinsson points out that the valuation of an ox at two ore, or 50 grams of silver, in 10th-century Sweden closely resembles valuations in other parts of Europe at the time, indicating significant integration and exchange between different economies.
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Edvinsson, known for developing a historical consumer price index extending back to the 13th century, emphasizes that this new interpretation provides valuable insights into price levels even earlier in history. He notes that the price of silver during the Viking Age was much lower than in the early 14th century and late 16th century but was comparable to the levels seen in the late 15th century and the 12th century, periods marked by a silver shortage.
The study underscores the importance of applying modern economic theories to historical sources, demonstrating how such interdisciplinary research can deepen our understanding of early economic systems.
What Did Things Cost During the Viking Age?
Based on the new interpretation, an ox during the Viking Age would have cost 2 öre of silver, roughly 50 grams, which equates to around 100,000 Swedish kronor today when adjusted for the value of an hour’s work. This suggests that the fine detailed on the Forsa Ring was quite substantial. One öre was likely equivalent to about nine Arabic dirhams, a currency that was widely circulated among the Vikings.
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For comparison, a thrall (slave) would have cost 12 öre of silver, or approximately 600,000 Swedish kronor today. The wergild, or fine paid to the family of a murdered free man to avoid blood revenge, was much higher, around 5 kilos of silver, which is about 10 million Swedish kronor today. This significant disparity in value between a thrall and a free man highlights the stark power dynamics in Viking Age society.
The article, “Applying a transaction cost perspective to decode viking Scandinavia’s earliest recorded value relation: insights from the forsa ring’s runic inscription,” by Rodney Edvinsson, is published in Scandinavian Economic History Review. Click here to read it.
Top Image: Copy of the Forsa Ring. Photo by Ulrika Eriksson/Svenska Kyrkan
A recent reinterpretation of the runic inscription on the Forsa Ring offers a fresh perspective on the monetary system of the Viking Age, marking it as the oldest documented record of value in Scandinavia. The inscription sheds light on how the Vikings managed fines in a flexible and practical manner.
The inscription on the Forsa Ring (Forsaringen in Swedish), which dates back to the 9th or 10th century, has long been a subject of study. Traditionally, the phrase “uksa … auk aura tua” was believed to mean that fines had to be paid with both an ox and two ore of silver, suggesting a dual payment system. However, this interpretation has now been challenged.
Rodney Edvinsson, a Professor of Economic History at Stockholm University who conducted the study, explains that the previous translation implied a cumbersome process where the guilty party would need to pay with two different types of goods, which would have been both impractical and time-consuming. His research is published in the journal Scandinavian Economic History Review.
The Forsa Ring, an iron ring from Hälsingland, is thought to have been used as a door handle and is currently the oldest known preserved legal text in Scandinavia. The ring’s inscription describes fines for a specific offense, where payment was to be made in the form of oxen and silver. A key shift in understanding comes from reinterpreting the word “auk” from “and” to “also,” which alters the meaning. Here is how the inscription now reads in translation:
One ox and [also/or] two öre of silver to the staff for the restoration of a sanctuary in a valid state for the first time; two oxen and [also/or] four öre of silver for the second time; but for the third time four oxen and eight öre of silver.
Under the new interpretation, fines could be paid either with an ox or with two ore of silver, where an ore was approximately 25 grams of silver.
This reinterpretation suggests a much more adaptable system, allowing fines to be paid in either oxen or silver. This flexibility meant that individuals could meet their financial obligations based on the resources they had available, whether livestock or precious metals. According to Edvinsson, this understanding aligns better with the way the system functioned in later regional laws and is crucial for our comprehension of both Scandinavian and European monetary history.
Edvinsson points out that the valuation of an ox at two ore, or 50 grams of silver, in 10th-century Sweden closely resembles valuations in other parts of Europe at the time, indicating significant integration and exchange between different economies.
Edvinsson, known for developing a historical consumer price index extending back to the 13th century, emphasizes that this new interpretation provides valuable insights into price levels even earlier in history. He notes that the price of silver during the Viking Age was much lower than in the early 14th century and late 16th century but was comparable to the levels seen in the late 15th century and the 12th century, periods marked by a silver shortage.
The study underscores the importance of applying modern economic theories to historical sources, demonstrating how such interdisciplinary research can deepen our understanding of early economic systems.
What Did Things Cost During the Viking Age?
Based on the new interpretation, an ox during the Viking Age would have cost 2 öre of silver, roughly 50 grams, which equates to around 100,000 Swedish kronor today when adjusted for the value of an hour’s work. This suggests that the fine detailed on the Forsa Ring was quite substantial. One öre was likely equivalent to about nine Arabic dirhams, a currency that was widely circulated among the Vikings.
For comparison, a thrall (slave) would have cost 12 öre of silver, or approximately 600,000 Swedish kronor today. The wergild, or fine paid to the family of a murdered free man to avoid blood revenge, was much higher, around 5 kilos of silver, which is about 10 million Swedish kronor today. This significant disparity in value between a thrall and a free man highlights the stark power dynamics in Viking Age society.
The article, “Applying a transaction cost perspective to decode viking Scandinavia’s earliest recorded value relation: insights from the forsa ring’s runic inscription,” by Rodney Edvinsson, is published in Scandinavian Economic History Review. Click here to read it.
Top Image: Copy of the Forsa Ring. Photo by Ulrika Eriksson/Svenska Kyrkan
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