Iceland collect




100 Krónur 1960 – Iceland (Pick P-40)

The highest denomination of the final Landsbanki Íslands issue

The 100 Krónur 1960 banknote represents the highest denomination issued by Landsbanki Íslands and marks the culmination of its long role as Iceland’s issuing authority. Released just one year before the establishment of the Central Bank of Iceland (Seðlabanki Íslands) in 1961, this note symbolizes the final chapter of a historic era in Icelandic monetary history.

At the time of issue, 100 krónur was a substantial amount, used primarily for high-value transactions, savings, and institutional purposes rather than everyday commerce.

🏦 Historical Context

By 1960, Iceland’s economy had matured significantly, driven by industrial growth, fisheries, and expanding international trade. The country recognized the need for a modern central banking institution, leading to the founding of the Central Bank of Iceland the following year.

The issuance of the 100 krónur note ensured adequate supply of high-value currency during this transitional period. It reflects the confidence placed in the króna and the stability of Iceland’s financial system on the eve of institutional reform.

🎨 Design & Appearance

Obverse (Front)

  • Engraved portrait of Jón Sigurðsson, Iceland’s most enduring national figure and symbol of independence.

  • Denomination “Hundrað Krónur” prominently displayed.

  • Issuer name Landsbanki Íslands clearly printed.

  • Printed signatures of authorized bank officials.

  • Intricate guilloche and fine-line engraving providing both security and elegance.

  • Serial numbers printed in contrasting colors.

The obverse design emphasizes authority and tradition, suitable for the highest denomination of the series.

Reverse (Back)

  • Formal ornamental engraving with symmetrical geometric patterns.

  • Large denomination numerals ensuring easy identification.

  • Balanced and dignified layout consistent with high-value European banknotes of the period.

🖨️ Technical Details

  • Issuer: Landsbanki Íslands

  • Year of Issue: 1960

  • Denomination: 100 Krónur

  • Pick Number: P-40

  • Printing Method: Intaglio engraving

  • Paper: High-quality banknote security paper

  • Purpose: High-value circulation and institutional use

🔎 Collectability & Significance

The 100 Krónur 1960 (P-40) is highly valued by collectors for its historical importance rather than absolute rarity. Its significance includes:

  • Being the final high-denomination issue of Landsbanki Íslands

  • Marking the transition to Central Bank–issued currency

  • Continuing the iconic portrait of Jón Sigurðsson

  • Lower survival rates in high grade due to banking use

Well-preserved examples with strong embossing and minimal handling are increasingly scarce and desirable.

100 Krónur 1960 – Iceland (Pick P-40)

Signatures guide for Icelandic currency of the period