Rare Olaf the Holy coin found in Norway's largest Viking hoard
A rare silver coin minted for King Olaf the Holy has been identified within the Mørstad Hoard, Norway's largest-ever Viking treasure.
A massive Viking Age silver hoard discovered near Rena in April now contains between 5,500 and 6,000 coins, making it the largest ever found in Norway. Within this vast collection, researchers have identified a rare silver coin bearing the name and portrait of King Olaf the Holy, a key figure in Norway's Christianization.
A Royal Coin in the Hoard
Initially mistaken for an Anglo-Saxon penny, the coin was identified by museum researcher Anne Skogsfjord. She recognized the Norse inscription ONLAF R+ NORMANORV, confirming it was minted under King Olaf Haraldsson, who ruled from 1015 to 1028. Historian Svein Gullbekk describes the coin as featuring the king's portrait and a cross, with another cross on the reverse side. Fewer than 20 coins from Olaf's reign are known to exist, making this a national treasure.
Olaf's Religious Branding
The coin was struck between about 1024 and 1028, near the end of the Viking Age. It circulated for 20 to 25 years before being buried. Both sides bear numerous small cut marks, evidence it was tested for its silver content in everyday trade. Svein Gullbekk states the coin represents a large-scale Christianization effort and was a tool to legitimize the new faith. He describes it as a form of branding for King Olaf, who proclaimed Christianity the sole legal religion around 1024. Olaf learned of the faith during Viking raids in England and France and was baptized in Rouen around 1013.
Scholar Insight
University of Oslo coin expert Svein Gullbekk suggests King Olaf himself likely decided the coins' designs and may have been present at the mint. "It is a Christianisation coin on a grand scale," Gullbekk said. He adds there is a real possibility this exact coin was once held in the king's own hand. Researcher Anne Skogsfjord recalls the moment of discovery. "Could this really be a coin of Olaf Haraldsson that I was holding? And it was! It was a very special moment."
Olaf faced resistance, with much of Norway remaining faithful to the Norse gods during his rule. He was made a saint shortly after his death in 1030 and is recognized as one of Norway's first Christian kings and the first to issue coins in his own name. The Mørstad coin serves as a physical link between his royal decrees and the silver that passed through the hands of his subjects.
