section_path: Prizes
section_name: Prizes
paragraph_text: Prizes
  
  A Literature Nobel Prize laureate receives a gold medal, a diploma bearing a citation, and a sum of money. The amount of money awarded depends on the income of the Nobel Foundation that year. The literature prize can be shared between two, but not three, laureates. If a prize is awarded jointly, the prize money is split equally between them.
  
  The prize money of the Nobel Prize has been fluctuating since its inauguration but as of 2012 it stood at kr 8,000,000 (about US$ 1,100,000), previously it was kr 10,000,000. This was not the first time the prize amount was decreased—beginning with a nominal value of kr 150,782 in 1901 (worth 8,123,951 in 2011 SKr) the nominal value has been as low as kr 121,333 (2,370,660 in 2011 SKr) in 1945—but it has been uphill or stable since then, peaking at an SKr-2011 value of 11,659,016 in 2001.
  
  The laureate is also invited to give a lecture during "Nobel Week" in Stockholm; the highlight is the prize-giving ceremony and banquet on 10 December. It is the second richest literary prize in the world.