Iceland collect




1000 Krónur 1960 – Iceland (Pick P-41)

The highest denomination ever issued by Landsbanki Íslands

The 1000 Krónur 1960 banknote represents the highest denomination ever issued by Landsbanki Íslands and one of the most significant banknotes in Icelandic monetary history. Issued just one year before the establishment of the Central Bank of Iceland in 1961, this note marks the absolute conclusion of Landsbanki Íslands’ role as the nation’s issuing authority.

At the time, 1000 krónur was an exceptionally large sum, intended almost exclusively for institutional use, banking reserves, and major financial transactions, rather than everyday circulation.

🏦 Historical Context

By 1960, Iceland’s economy had grown substantially, with increased capital flows, expanding trade, and rising monetary values. To meet the needs of large-scale transactions, Landsbanki Íslands introduced the 1000 krónur denomination as part of its final issue.

This banknote was released during a decisive moment in Icelandic financial history. Plans were already in place to establish a dedicated central bank, and the issuance of such a high denomination reflects the maturity and confidence of Iceland’s monetary system on the eve of modernization.

🎨 Design & Appearance

Obverse (Front)

  • Engraved portrait of Jón Sigurðsson, the foremost figure of Iceland’s independence movement and a lasting symbol of national identity.

  • Denomination “Þúsund Krónur” prominently displayed.

  • Issuer name Landsbanki Íslands clearly printed.

  • Printed signatures of authorized bank officials.

  • Highly detailed guilloche and fine-line engraving used for advanced security and visual authority.

  • Dual serial numbers printed in contrasting colors.

The design conveys prestige, authority, and stability, fitting for the largest denomination of the Landsbanki era.

Reverse (Back)

  • Elaborate ornamental engraving with a formal, symmetrical layout.

  • Large denomination numerals emphasizing the exceptional value of the note.

  • Dense line work characteristic of high-denomination European banknotes of the mid-20th century.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1960

  • Denomination: 1000 Krónur

  • Pick Number: P-41

  • Printing Method: Intaglio engraving

  • Paper: High-grade banknote security paper

  • Purpose: Institutional use and high-value transactions

🔎 Collectability & Significance

The 1000 Krónur 1960 (P-41) is one of the most prestigious and sought-after Icelandic banknotes, valued for:

  • Being the highest denomination ever issued by Landsbanki Íslands

  • Representing the final banknote of the pre–Central Bank era

  • Extremely limited circulation among the general public

  • Strong symbolic association with Iceland’s financial maturity

Due to its restricted use and early withdrawal, surviving examples—especially in high grade—are scarce and highly prized by collectors.

1000 Krónur 1960 – Iceland (Pick P-41)

Signatures guide for Icelandic currency of the period