Iceland collect




10 Krónur 1929 – Iceland (Pick P-24)

A National Bank issue from Iceland’s transition to full monetary sovereignty

The 10 Krónur 1929 banknote was issued by Landsbanki Íslands (The National Bank of Iceland), not Íslandsbanki. By this time, Landsbanki had assumed the exclusive right to issue Icelandic banknotes, marking a decisive shift away from private bank issuance and toward a centralized national currency system.

This note belongs to a key transitional period in Icelandic monetary history, just before the global economic crisis of the early 1930s and only a few years before the establishment of the Central Bank of Iceland.

🏦 Historical Background

In 1927, the authority to issue banknotes in Iceland was transferred to Landsbanki Íslands, which acted as the country’s central monetary institution until the founding of Seðlabanki Íslands in 1961. As a result, all major denominations issued after this point—including the 10 Krónur 1929—were state-controlled national issues, not private bank notes.

The 1929 series was printed during a period of relative economic stability in Iceland. These notes were intended to modernize circulation and replace older designs, while also reflecting Iceland’s growing independence in financial administration during the final decades of the Danish monarchy.

🎨 Design & Appearance

Obverse (Front)

  • Prominent portrait of Jón Sigurðsson, leader of Iceland’s independence movement and one of the most important figures in Icelandic history.

  • The denomination “Tíu Krónur” clearly displayed in decorative lettering.

  • Finely engraved guilloche borders providing both visual elegance and anti-counterfeiting protection.

  • Official printed signatures of Landsbanki Íslands officials.

  • Serial numbers printed in strong contrasting ink.

Reverse (Back)

  • Symmetrical ornamental engraving with national stylistic elements.

  • Large numeral “10” repeated for clarity and security.

  • Dense fine-line patterns characteristic of late 1920s professional banknote printing.

The overall design reflects a mature, confident national currency rather than an emergency or provisional issue.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1929

  • Denomination: 10 Krónur

  • Pick Number: P-24

  • Printing Style: High-quality intaglio engraving

  • Paper: Professional banknote paper, stronger than earlier treasury issues

  • Format: Medium-large format consistent with other Landsbanki notes of the period

🔎 Collectability & Importance

The 10 Krónur 1929 (P-24) is highly valued by collectors because it:

  • Represents national banknote issuance, not private banking

  • Features Jón Sigurðsson, reinforcing Icelandic identity

  • Comes from a short-lived pre-Depression printing period

  • Had limited long-term survival due to circulation and later currency reforms

High-grade examples are particularly scarce, as most notes were used extensively during the economic turbulence of the 1930s.

10 Krónur 1929 – Iceland (Pick P-24)

Signatures guide for Icelandic currency of the period