It is listed as being a commemorative, but the more I was thinking about it, the more sure I was that it was not. I remember that when it was first made, it was meant to be THE new design for many years to come - but unfortunately the king thought the picture of himself was quite unflattering since he looked too bald, and for year 2001 a new, hairier design was issued as a replacement. I remember reading about this in the newspapers at the time. Some Swedish sites and forums mention it as the "coin with the king without hair".
Now, it seems I was wrong about it - that it was just a rumour or me remembering it wrong, and that it actually is a commemorative. That's all I find when I Google it - but some sources claim there were actually 100 coins made in which the king does look more bald, and that those coins did enter circulation.