Iceland collect




50 Krónur 1948 – Iceland (Pick P-34)

The highest denomination of Iceland’s first Republic-era series

The 50 Krónur 1948 banknote was the highest denomination issued in Iceland’s first complete banknote series after the founding of the Republic in 1944. Issued by Landsbanki Íslands, this note was intended for higher-value transactions and institutional use, reflecting the growing scale of Iceland’s post-war economy.

As Iceland transitioned from wartime conditions into economic recovery, the 50 krónur note became an important part of both commercial activity and banking operations.

🏦 Historical Context

Although Iceland became a republic in 1944, Landsbanki Íslands remained responsible for issuing banknotes until the Central Bank of Iceland was established in 1961. The 1948 series was introduced to modernize the currency while maintaining continuity with earlier designs familiar to the public.

The 50 krónur denomination filled a critical role at a time when prices and wages were rising, reducing the need for large quantities of lower-value notes in everyday and commercial transactions.

🎨 Design & Appearance

Obverse (Front)

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

  • Denomination “Fimmtíu Krónur” prominently displayed.

  • Issuer name Landsbanki Íslands clearly printed.

  • Printed signatures of authorized bank officials.

  • Fine guilloche and line engraving serving both decorative and security purposes.

  • Serial numbers printed in contrasting colors.

The design conveys authority and stability appropriate for the highest denomination of the series.

Reverse (Back)

  • Elaborate ornamental engraving with symmetrical geometric elements.

  • Large denomination numerals for clear identification.

  • A formal and balanced layout typical of high-value European banknotes of the period.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1948

  • Denomination: 50 Krónur

  • Pick Number: P-34

  • Printing Method: Intaglio engraving

  • Paper: Banknote-grade security paper

  • Purpose: High-value circulation and institutional use

🔎 Collectability & Significance

The 50 Krónur 1948 (P-34) is a highly regarded note among collectors due to:

  • Its status as the largest denomination of the 1948 Republic series

  • Strong symbolic use of Jón Sigurðsson

  • Lower survival rates compared to smaller denominations

  • Its role in Iceland’s early post-independence financial system

Examples in high grade are particularly desirable, as larger denominations often saw heavier handling in banking environments.

50 Krónur 1948 – Iceland (Pick P-34)

Signatures guide for Icelandic currency of the period