Iceland collect




10 Krónur 1966 – Iceland (Pick P-42)

The first 10 krónur banknote issued by the Central Bank of Iceland

The 10 Krónur 1966 banknote marks a new era in Icelandic monetary history as one of the first banknotes issued by the Central Bank of Iceland (Seðlabanki Íslands) following its establishment in 1961. This issue represents the transition from the historic Landsbanki Íslands system to a modern, independent central banking framework.

The 10 krónur denomination remained essential for daily transactions, wages, and retail commerce, making this note widely circulated throughout Icelandic society.

🏦 Historical Context

After the creation of the Central Bank of Iceland in 1961, responsibility for issuing banknotes officially transferred from Landsbanki Íslands to the new institution. The 1966 series was introduced to assert this change and modernize the nation’s currency while preserving public trust.

This period marked Iceland’s full entry into modern monetary governance, allowing for independent monetary policy and greater economic stability during a time of expanding domestic and international trade.

🎨 Design & Appearance

Obverse (Front)

  • Portrait of Jón Sigurðsson, continuing his long-standing role as Iceland’s primary national symbol.

  • Denomination “Tíu Krónur” prominently displayed.

  • Issuer name Seðlabanki Íslands clearly printed, distinguishing it from earlier Landsbanki issues.

  • Printed signatures of Central Bank officials.

  • Intricate guilloche patterns and fine-line engraving used for security.

  • Serial numbers printed in contrasting colors.

The design maintains visual continuity with earlier notes while clearly signaling the new issuing authority.

Reverse (Back)

  • Ornamental geometric engraving arranged in a balanced layout.

  • Large denomination numerals for quick identification.

  • Clean and functional design suitable for heavy circulation.

🖨️ Technical Details

  • Issuer: Seðlabanki Íslands (Central Bank of Iceland)

  • Year of Issue: 1966

  • Denomination: 10 Krónur

  • Pick Number: P-42

  • Printing Method: Intaglio engraving

  • Paper: Banknote-grade security paper

  • Purpose: General circulation

🔎 Collectability & Significance

The 10 Krónur 1966 (P-42) is valued by collectors primarily for its historical importance. Its significance includes:

  • One of the earliest Central Bank–issued Icelandic banknotes

  • Continuation of Jón Sigurðsson’s image under a new monetary authority

  • Representation of Iceland’s full transition to modern central banking

  • Widespread circulation, making high-grade examples increasingly scarce

Crisp notes with strong embossing and minimal wear are especially sought after.

10 Krónur 1966 – Iceland (Pick P-42)

Signatures guide for Icelandic currency of the period