Iceland collect




100 Krónur 1948 – Iceland (Pick P-35)

The first 100 krónur banknote of the Republic of Iceland

The 100 Krónur 1948 banknote represents a major milestone in Icelandic monetary history as the first 100 krónur denomination issued after the establishment of the Republic of Iceland in 1944. Issued by Landsbanki Íslands, this note reflected the increasing scale of financial transactions in post-war Iceland and the growing maturity of the national economy.

At the time, 100 krónur was a very high value, primarily used for banking, business transactions, and savings rather than daily purchases.

🏦 Historical Context

In the years following independence, Iceland experienced economic expansion driven by fisheries, trade, and post-war reconstruction. Although the country was now a sovereign republic, Landsbanki Íslands continued to serve as the issuing authority for banknotes until the Central Bank of Iceland was founded in 1961.

The introduction of the 100 krónur note in 1948 addressed the need for higher denominations as prices, wages, and commercial volumes increased. This issue marked a clear step away from the pre-Republic monetary structure while maintaining design continuity for public confidence.

🎨 Design & Appearance

Obverse (Front)

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

  • Denomination “Hundrað Krónur” prominently displayed.

  • Issuer name Landsbanki Íslands clearly printed.

  • Printed signatures of authorized bank officials.

  • Intricate guilloche and fine-line engraving serving as both decoration and anti-counterfeiting features.

  • Dual serial numbers printed in contrasting colors.

The design communicates authority, stability, and national identity appropriate for a high-value note.

Reverse (Back)

  • Elaborate ornamental engraving with symmetrical geometric patterns.

  • Large denomination numerals emphasizing the value of the note.

  • Formal, balanced composition typical of high-denomination European banknotes of the era.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1948

  • Denomination: 100 Krónur

  • Pick Number: P-35

  • Printing Method: Intaglio engraving

  • Paper: High-quality banknote security paper

  • Purpose: High-value circulation and institutional use

🔎 Collectability & Significance

The 100 Krónur 1948 (P-35) is a highly desirable note among collectors due to:

  • Being the first Republic-era 100 krónur issue

  • Its association with Iceland’s post-independence economic development

  • Limited everyday circulation compared to lower denominations

  • Lower survival rates, especially in high grade

Well-preserved examples with strong embossing, clean paper, and intact margins are particularly scarce and valued.

100 Krónur 1948 – Iceland (Pick P-35)

Signatures guide for Icelandic currency of the period