Time Period: 1920-

Timeline

• The authority over the Svalbard archipelago (with Spitzbergen island) had for long time been contended between Norway and Russia. The 1920 Treaty of Sèvres attributed sovereignty over the islands to Norway but opened the exploitation of the natural riches to all states, which was used only by Russia. In 1931, the company "Arctic Coal (Russian: Arktikugol')" took over all Soviet coal mining interests on Svalbard. The mining flourished between 1947 and 1960 and has declined to insignificance since then.
  - around 1946: Issuance of metallic tokens denominated in Soviet Ruble by the Arktikugol' mining company to overcome the money shortage in the mining stations at Barentburg, Grumantbyen, Pyramiden
  - around 1957: Withdrawal of the metallic tokens and replacement by Arktikugol' paper money subsititutes
  - after 1961: No further tokens were issued after the Soviet currency reform of Janaur 1961 (possibly due to the declining mining activity).
• Issuance of collector coins in the name of Arktikugol':
  - around 1993: Issuance of tokens in Russian Ruble (1992). Since they carried the designation "Russian Federation" (violating Norway's sovereignty according to the Treeaty of Sèvres) their circulation was formally banned by the Norwegian authorities.
  - around 1998: Issuance of tokens in Russian Ruble (1998) without authorization by Arktikugol'.