Iceland collect




10 Krónur 1925 – Iceland (Pick P-20)

A Transitional Issue Representing the End of Iceland’s Early Treasury Banknotes

🏦 Historical Background

The 10 Krónur 1925 note is part of the final generation of treasury-issued Icelandic currency before note production shifted toward more centralized and standardized banking authorities. Much like the 5 krónur issued the same year, this note reflects Iceland’s transitional economic environment: coin shortages were easing, but the Treasury still needed to issue paper money to maintain liquidity in everyday commerce.

The P-20 note is historically significant because it closes the chapter on early Icelandic treasury banknotes and marks the final step before higher-security and more artistically developed banknotes entered circulation under the Landsbanki system.

🎨 Design & Features

  • Denomination: 10 Krónur

  • Year of Issue: 1925

  • Pick Number: P-20

  • Issuer: Ríkissjóður Íslands (Treasury of Iceland)

  • Series Type: Late transitional treasury issue

Obverse (Front)

The 10 Krónur 1925 design is noticeably more elaborate than earlier low-denomination treasury notes:

  • Prominent central text “Tíu Krónur” (“Ten Kronur”).

  • Decorative frame formed of intricate guilloche patterns, reflecting an effort to modernize security and aesthetics.

  • Icelandic treasury text confirming the note’s validity and denomination.

  • Official signatures from treasury officers, which uniquely identify this issue.

  • Serial numbers printed in a bold contrasting color, applied in pairs at opposite corners.

Reverse (Back)

Like most treasury-issued notes of this period:

  • The reverse is simple, with minimal decoration or left completely blank.

  • Practicality took precedence over visual complexity, consistent with Iceland’s economic priorities of the time.

🖨️ Printing & Paper Characteristics

  • Printed on medium-thin paper without watermarking.

  • Designed for short- to medium-term circulation — not long-lasting, highly durable notes.

  • Single-color or two-color print depending on batch variations, typical for Icelandic treasury notes of the 1920s.

🔎 Collector Notes & Rarity

The 10 Krónur 1925 (P-20) is appreciated by collectors because:

  • It is the final 10 krónur note issued directly by the Treasury.

  • Survival rates are lower than later central-bank-issued notes due to heavy use and fragile paper quality.

  • Transitional notes like P-20 had modest print quantities compared with the massive printing runs of later decades.

  • High-grade examples are scarce, especially those free from folds and staining.

10 Krónur 1925 – Iceland (Pick P-20)

10 Krónur 1925 – Iceland (Pick P-20) 10 Krónur 1925 – Iceland (Pick P-20)

Signatures guide for Icelandic currency of the period