Iceland collect




5 Krónur 1925 – Iceland (Pick P-19)

A Transitional Treasury Issue Marking the End of Iceland’s Early Low-Denomination Paper Money

🏦 Historical Background

The 5 Krónur 1925 banknote represents one of the last treasury-issued Icelandic notes produced during a period of national economic transition. By the mid-1920s, Iceland was gradually stabilizing its currency system and preparing to move toward more standardized note designs issued by formal banking institutions.

However, shortages of coinage and the lingering effects of earlier financial disruptions still required the government to release paper substitutes for small denominations. The P-19 note is part of this transitional phase, following earlier emergency-style issues but printed with clearer structure and improved design elements that hinted at the modern era that would follow.

🎨 Design & Features

  • Denomination: 5 Krónur

  • Year: 1925

  • Pick Number: P-19

  • Issuing Authority: Ríkissjóður Íslands (Treasury of Iceland)

  • Series Role: Transitional treasury issue before newer banknote standards

Obverse (Front)

The 5 Krónur 1925 note features a more developed layout than the simple 1 króna notes of the early 1920s:

  • Central inscription “Fimm Krónur” (“Five Kronur”) in a bold, decorative typeface.

  • Traditional guilloche-style borders framing the note, offering early security against counterfeiting.

  • Icelandic treasury text confirming the value and legal status of the note.

  • Official signatures from treasury authorities, which identify the note as the 1925 variant.

  • A pair of serial numbers printed in contrasting color to the main design.

Reverse (Back)

  • As was typical for Iceland’s treasury-issued small and mid-value notes, the reverse is simple, containing minimalist ornamentation or left entirely unprinted depending on the print batch.

  • Emphasis remained on practicality over artistic elaboration.

🖨️ Printing & Technical Details

  • Printed on medium-thin paper stock — sturdier than the 1 króna issues but still simpler than later Landsbanki designs.

  • No watermark or advanced security features due to economic limitations at the time.

  • The note’s size and color scheme make it distinctive among early Icelandic treasury issues.

🔎 Collector Notes & Rarity

The 5 Krónur 1925 (P-19) is a desirable early Icelandic note for several reasons:

  • It represents the final stage of treasury-issued 5 krónur notes before banking institutions assumed production responsibilities.

  • It had widespread circulation and a relatively low survival rate, especially in high-grade condition.

  • Transitional-era notes often have low print quantities compared with full bank-issued series that followed.

5 Krónur 1925 – Iceland (Pick P-19)

5 Krónur 1925 – Iceland (Pick P-19) 5 Krónur 1925 – Iceland (Pick P-19)

Signatures guide for Icelandic currency of the period