As part of the transition to the krone coin Denmark acceded to the Scandinavian Currency Union convention. This currency union was the most extensive seen at the time. All Scandinavian countries introduced the gold standard and the same unit of account (the krone), as well as common circulation of the principal coins, i.e. gold coins with a value of 10 and 20 kroner, and the small coins. The Scandinavian Currency Union lasted up to World War I.