Iceland collect




10 Krónur 1948 – Iceland (Pick P-33)

A key banknote of Iceland’s early Republic era

The 10 Krónur 1948 banknote is one of the first higher-denomination notes issued after Iceland became a republic in 1944. Issued by Landsbanki Íslands, it reflects both continuity and renewal in Iceland’s monetary system during the early years of full independence.

As a mid-range denomination, the 10 krónur note played an important role in everyday commerce, bridging the gap between small change and higher-value transactions in post-war Iceland.

🏦 Historical Context

Following the proclamation of the Republic of Iceland in 1944, the country retained its existing financial infrastructure while gradually modernizing its institutions. Landsbanki Íslands continued to serve as the issuing authority for banknotes until the establishment of the Central Bank of Iceland in 1961.

The 1948 series was introduced to replace older pre-Republic issues and to provide durable, secure currency suited to the economic realities of the late 1940s. Inflation and increased commercial activity made the 10 krónur denomination especially useful in daily life.

🎨 Design & Appearance

Obverse (Front)

  • Engraved portrait of Jón Sigurðsson, leader of Iceland’s independence movement and a central figure in national symbolism.

  • Denomination “Tíu Krónur” prominently displayed.

  • Issuer name Landsbanki Íslands clearly printed.

  • Printed signatures of authorized bank officials.

  • Ornamental guilloche patterns used as both decoration and security.

  • Serial numbers printed in contrasting colors.

The obverse design emphasizes tradition, authority, and national identity while maintaining visual continuity with earlier Icelandic notes.

Reverse (Back)

  • Balanced ornamental layout with geometric engraving.

  • Large denomination numerals for quick recognition.

  • Clean and symmetrical design typical of mid-20th-century European banknotes.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1948

  • Denomination: 10 Krónur

  • Pick Number: P-33

  • Printing Method: Intaglio engraving

  • Paper: Banknote-grade security paper

  • Purpose: General circulation

🔎 Collectability & Significance

The 10 Krónur 1948 (P-33) is valued by collectors for several reasons:

  • Part of the first Republic-era currency series

  • Continues the iconic use of Jón Sigurðsson’s portrait

  • Widely circulated, making high-grade examples increasingly scarce

  • Represents Iceland’s economic recovery and stabilization after World War II

While common in lower grades, well-preserved notes with sharp engraving and minimal folds are highly desirable.

10 Krónur 1948 – Iceland (Pick P-33)

Signatures guide for Icelandic currency of the period