Iceland collect




5 Krónur 1933 – Iceland (Pick P-27)

A national banknote issued during Iceland’s early Depression-era economy

The 5 Krónur 1933 banknote marks the beginning of a new phase in Icelandic paper money, issued during the global economic downturn of the early 1930s. Released by Landsbanki Íslands, this note reflects Iceland’s continued commitment to a centralized national currency system despite challenging international conditions.

While maintaining continuity with earlier designs, the P-27 issue shows subtle adjustments suited to a more cautious economic environment.

🏦 Historical Background

By 1933, Iceland was feeling the effects of the Great Depression, particularly through reduced exports and tightened trade conditions. Despite these pressures, the Icelandic financial system remained relatively stable compared to many other countries.

Landsbanki Íslands, acting as the nation’s central monetary authority, continued issuing banknotes to ensure sufficient liquidity. The 5 krónur denomination remained essential for everyday transactions, leading to extensive circulation and frequent handling.

The 1933 issue replaced earlier notes that had become worn or outdated, reinforcing confidence in the national currency during uncertain times.

🎨 Design & Appearance

Obverse (Front)

  • A finely engraved portrait of Jón Sigurðsson, reinforcing Icelandic national identity.

  • The denomination “Fimm Krónur” prominently displayed in decorative script.

  • Intricate guilloche borders and line engraving serving both aesthetic and security purposes.

  • Official printed signatures of Landsbanki Íslands representatives.

  • Serial numbers printed in contrasting ink for clear identification.

Reverse (Back)

  • A symmetrical ornamental design emphasizing balance and authority.

  • Repeated numeral “5” for denomination clarity.

  • Dense fine-line background engraving typical of professional banknote production in the early 1930s.

The overall design remains conservative and dignified, reflecting stability rather than excess.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1933

  • Denomination: 5 Krónur

  • Pick Number: P-27

  • Printing Method: Intaglio engraving

  • Paper: Durable banknote paper designed for heavy circulation

  • Format: Medium format consistent with other Landsbanki low-denomination notes

🔎 Collectability & Importance

The 5 Krónur 1933 (P-27) is valued by collectors because:

  • It represents Depression-era Icelandic currency

  • It continues the Jón Sigurðsson portrait tradition

  • It circulated extensively, resulting in limited high-grade survivors

  • It bridges the late-1920s designs with later pre-Republic issues

Examples in Fine condition are common, but Very Fine and above are noticeably scarcer.

5 Krónur 1933 – Iceland (Pick P-27)

Signatures guide for Icelandic currency of the period