Iceland collect




The 500 Krónur 2002 banknote was issued by the Central Bank of Iceland (Seðlabanki Íslands) as part of the modern króna banknote series in circulation at the beginning of the 21st century. By this time, Iceland’s currency system had largely stabilized, and banknote design focused on durability, security, and long-term usability.

🏦 Historical Context

In the early 2000s, Iceland continued refining its banknote series to meet modern standards while maintaining continuity with earlier designs. The 500 krónur denomination remained an important everyday value, widely used for routine purchases and cash transactions.

Although coins were increasingly used for smaller amounts, the 500 krónur note still played a practical role in daily circulation during this period.

🎨 Design & Appearance

Obverse (Front)

  • Portrait of a notable Icelandic historical figure

  • Issuer name Seðlabanki Íslands

  • Denomination text “Fimm hundruð krónur”

  • Printed signatures of Central Bank officials

  • Modern engraved patterns and security elements

  • Clear serial numbering

The obverse reflects the clean, refined visual language characteristic of Icelandic banknotes issued around the turn of the century.

Reverse (Back)

  • Decorative and symbolic composition

  • Prominent numeral 500

  • Balanced and uncluttered layout designed for easy recognition

The reverse complements the obverse with a functional and modern presentation.

🖨️ Technical Details

  • Issuer: Seðlabanki Íslands (Central Bank of Iceland)

  • Year of Issue: 2002

  • Denomination: 500 Krónur

  • Pick Number: P-58

  • Printing Method: Intaglio engraving

  • Paper: Modern secure banknote paper

  • Circulation Role: Everyday transactions

🔎 Collectability & Significance

The 500 Krónur 2002 (P-58) is of interest to collectors because it represents:

  • Icelandic banknote design in the early 21st century

  • A transitional period before later material and design innovations

  • A denomination that circulated widely, making high-grade examples less common

Well-preserved notes are increasingly sought after by collectors focusing on modern Icelandic issues.

500 Krónur 2002 – Iceland (Pick P-58)

Signatures guide for Icelandic currency of the period