Iceland collect




1 Króna 1921 – Iceland (Pick P-17b)

One of Iceland’s Early Postwar Currency Issues

🏦 Historical Context

After the economic disruptions of the early 1920s — including coin shortages and instability from the breakup of earlier banking structures — the Icelandic authorities issued a series of small-denomination banknotes to facilitate everyday commerce. The 1 Króna 1921 note (Pick P-17b) was part of this stabilization effort, replacing the need for scarce small-value coinage and enabling smoother trade and transactions across the country.

The issuer is the state treasury authority (Ríkissjóður Íslands). The note belongs to a transitional series of early-1920s currency issues, bridging older private-bank notes and later standardized public-bank currency.

🎨 Design & Production Details

  • Denomination: 1 Króna

  • Year: 1921 (note issued late 1921, although catalog references sometimes mark related issue dates)

  • Pick catalog number: P-17b

  • Issuing authority: State treasury (Ríkissjóður Íslands)

  • Printing and format: Small-denomination banknote, designed for practical use in everyday transactions

Features

  • The obverse displays the denomination “1 Króna” prominently, with simple but neat guilloche-style engraving and borders giving it an official, recognizable currency look.

  • The note carries serial numbers in the upper-left corner (typical for P-17b variety), sometimes preceded by “No” or similar mark — this layout helps distinguish P-17b from earlier or provisional 1-króna issues.

  • The design emphasizes functionality over ornamentation, appropriate for a low-value note intended for wide distribution and frequent use.

  • The paper is modest but standard for early 20th-century Icelandic notes — durable enough for circulation but expected to show wear over time.

🔎 Rarity & Collector Significance

The 1 Króna 1921 (P-17b) is considered rather scarce, especially in preserved condition, for several reasons:

  • Many notes saw heavy circulation due to the practical necessity of small-denomination currency.

  • Small-denomination banknotes are more prone to damage, wear, and loss over decades.

  • The 1921 series represents a short-lived transitional currency phase — successive monetary reforms and currency changes caused many of these notes to be redeemed and withdrawn.

Collectors value the 1921 1-króna note for:

  • Its historical role as an early postwar stabilization currency.

  • Its representation of Iceland’s evolving monetary system — from private and provisional issues toward a unified, public currency framework.

  • Its relative scarcity among small-denomination notes, particularly for specimens in good shape with legible serials.

1 Króna 1921 – Iceland (Pick P-17b)

1 Króna 1921 – Iceland (Pick P-17b) 1 Króna 1921 – Iceland (Pick P-17b)

Signatures guide for Icelandic currency of the period