Iceland collect




10 Krónur 1933 – Iceland (Pick P-28)

A mid-denomination national banknote issued during Iceland’s Depression-era stability

The 10 Krónur 1933 banknote was issued by Landsbanki Íslands at a time when Iceland, like much of the world, was navigating the economic pressures of the Great Depression. Despite global instability, Iceland maintained a relatively stable monetary system, and this note reflects a cautious yet confident continuation of the country’s centralized currency issuance.

As a widely used denomination, the P-28 note played a central role in daily commerce throughout the 1930s.

🏦 Historical Background

By 1933, Landsbanki Íslands functioned as Iceland’s primary monetary authority, overseeing currency issuance and financial stability. Although export markets weakened during the Depression, Iceland avoided the worst effects experienced elsewhere, allowing its currency to remain trusted and functional.

The 10 krónur denomination bridged the gap between everyday transactions and higher-value commercial payments. As older notes wore out, new issues such as the 1933 series were released to keep circulation fresh and reliable.

🎨 Design & Appearance

Obverse (Front)

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

  • The denomination “Tíu Krónur” clearly displayed in decorative lettering.

  • Elegant guilloche borders and fine-line engraving serving both aesthetic and security purposes.

  • Official printed signatures of Landsbanki Íslands authorities.

  • Serial numbers printed in contrasting ink for clarity.

Reverse (Back)

  • A balanced, symmetrical ornamental design emphasizing order and stability.

  • Repeated numeral “10” for immediate denomination recognition.

  • Dense fine-line background engraving typical of professional early-1930s banknote printing.

The design mirrors the conservative, dignified tone adopted by many national banks during economic uncertainty.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1933

  • Denomination: 10 Krónur

  • Pick Number: P-28

  • Printing Method: Intaglio engraving

  • Paper: Durable banknote paper designed for extended circulation

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

🔎 Collectability & Importance

The 10 Krónur 1933 (P-28) is valued for several reasons:

  • It represents Depression-era Icelandic monetary resilience

  • It continues the Jón Sigurðsson portrait tradition

  • It circulated heavily, reducing the number of high-grade survivors

  • It forms a key link between late-1920s and later pre-Republic issues

While circulated examples are readily available, Very Fine and better specimens are increasingly difficult to obtain.

10 Krónur 1933 – Iceland (Pick P-28)

Signatures guide for Icelandic currency of the period