Iceland collect




10 Krónur 1960 – Iceland (Pick P-38)

A transitional banknote at the dawn of Iceland’s Central Bank era

The 10 Krónur 1960 banknote represents a key transitional issue in Icelandic monetary history. Issued by Landsbanki Íslands, it was among the last banknotes released before the establishment of the Central Bank of Iceland (Seðlabanki Íslands) in 1961.

This note reflects the final phase of Landsbanki Íslands’ role as issuing authority, bridging the traditional banknote designs of the Republic era with the modern central banking system that followed.

🏦 Historical Context

By 1960, Iceland had undergone substantial economic development, with growing wages, expanding trade, and increasing financial activity. These changes prompted the creation of a separate central bank to modernize monetary policy and currency issuance.

The 10 krónur denomination was widely used in daily transactions and wage payments. Issuing this note in 1960 ensured currency continuity while institutional reforms were underway.

🎨 Design & Appearance

Obverse (Front)

  • Engraved portrait of Jón Sigurðsson, Iceland’s foremost independence leader and enduring national symbol.

  • Denomination “Tíu Krónur” prominently displayed.

  • Issuer name Landsbanki Íslands clearly printed.

  • Printed signatures of authorized bank officials.

  • Intricate guilloche and fine-line engraving used for both security and decoration.

  • Serial numbers printed in contrasting colors.

The obverse design maintains visual continuity with earlier Republic-era notes, emphasizing stability during transition.

Reverse (Back)

  • Ornamental geometric engraving arranged in a balanced, symmetrical layout.

  • Large denomination numerals for quick recognition.

  • Clean, functional design suited to frequent circulation.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1960

  • Denomination: 10 Krónur

  • Pick Number: P-38

  • Printing Method: Intaglio engraving

  • Paper: Banknote-grade security paper

  • Purpose: General circulation

🔎 Collectability & Significance

The 10 Krónur 1960 (P-38) is notable for its historical timing rather than scarcity. Collectors value this note because it:

  • Represents the end of Landsbanki Íslands’ issuing role

  • Precedes the introduction of Central Bank–issued notes

  • Continues the long-standing use of Jón Sigurðsson’s portrait

  • Was widely circulated, making high-grade examples harder to find

Crisp notes with strong embossing and minimal folds are especially desirable.

10 Krónur 1960 – Iceland (Pick P-38)

Signatures guide for Icelandic currency of the period