A recent interpretation of the runic inscription on the Forsa Ring, an iron ring from 9th or 10th century that is the oldest extant legal text in Scandinavia, has revealed new information on Viking Age monetary systems. The reinterpretation changes only one word, but that change reveals a more flexible and practical approach to the payment of fines. For centuries the Forsa Ring hung on the door of the parish church in Forsa in central Sweden’s province of Hälsingland, but it is pre-Christian so that was not its original location. It is 17 inches in diameter and had an iron spike that was likely used to mount it through a hole in the door. It is engraved around the edge with approximately 250 runes that record the fines incurred by the violation of a sanctuary. The runes read: uksa tuiskilan auk aura tuo staf at fursta laki uksa tuo auk aura fiura at aþru laki in at þriþia laki uksa fiura auk aura ata staf The previous translation of them: One ox and two ounces of silver (in fine) to the staff for the restoration of a sanctuary in a valid state for the first time; two oxen and four ounces of silver (in fine) for the second time; but for the third time four oxen and eight ounces of silver (in fine). Researchers from the Department of Economic History and International Relations at Stockholm University proffer a different interpretation of the word “auk” that alters the entire fine structure. “The Forsaringen inscription “uksa … auk aura tua” was previously interpreted to mean that fines had to be paid with both an ox and two ore of silver. This would imply that the guilty party had to pay with two different types of goods, which would have been both impractical and time-consuming,“ says Rodney Edvinsson, Professor of Economic History at Stockholm University, who conducted the study. […] By changing the translation of the word “auk” from the previous interpretation “and” to the new interpretation “also,” the meaning changes so that fines could be paid either with an ox or with two ore of silver. An ore was equivalent to about 25 grams of silver. “This indicates a much more flexible system, where both oxen and silver could be used as units of payment. If a person had easier access to oxen than to silver, they could pay their fines with an ox. Conversely, if someone had silver but no oxen, they could pay with two ore of silver,“ says Rodney Edvinsson. In addition to being more practical and making it easier for people to pay the fines, this interpretation is more congruent with later Scandinavian laws and the valuation of oxen in silver also comparable to their values in other countries in Europe. If the researchers are correct, this makes the Fora Ring runes Scandinavia’s earliest extant price record. “The price level during the Viking Age in silver was much lower than in the early 14th century and late 16th century, but approximately at the same level as in the late 15th century and the 12th century, when there was a silver shortage,“ says Rodney Edvinsson. The study highlights the importance of using modern economic theories to interpret historical sources. By combining economic theory with archaeological and historical findings, new opportunities for interdisciplinary research and a deeper understanding of early economic systems are opened up. The study has been published in the Scandinavian Economic History Review and can be read in its entirety here.

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