Iceland collect




500 Krónur 1968 – Iceland (Pick P-45)

Iceland’s highest denomination of the 1960s Central Bank series

The 500 Krónur 1968 banknote represents one of the most significant issues of Iceland’s modern paper money. Issued by the Central Bank of Iceland (Seðlabanki Íslands), it was the highest denomination introduced in the 1960s series and was intended for large financial transactions, institutional use, and long-term savings.

🏦 Historical Context

Following the establishment of the Central Bank of Iceland in 1961, the Bank gradually introduced a new generation of banknotes to replace older issues from earlier monetary authorities. As inflation and economic activity increased during the 1960s, the need arose for a higher-value note.

The 500 krónur denomination, first issued in 1968, fulfilled this role and marked an important step in Iceland’s evolving monetary system.

🎨 Design & Appearance

Obverse (Front)

  • Portrait of Jón Sigurðsson, leader of Iceland’s independence movement

  • Denomination text “Fimm hundruð krónur”

  • Issuer name Seðlabanki Íslands

  • Printed signatures of Central Bank officials

  • Ornate engraved patterns typical of high-value notes

  • Serial numbers printed in contrasting ink

The obverse design emphasizes authority, stability, and national identity, consistent with Icelandic Central Bank issues of the period.

Reverse (Back)

  • Elegant ornamental engraving

  • Prominent numeral 500

  • Symmetrical layout designed for clarity and security

The reverse maintains a restrained, formal appearance suited to a high-denomination banknote.

🖨️ Technical Details

  • Issuer: Seðlabanki Íslands (Central Bank of Iceland)

  • Year of Issue: 1968

  • Denomination: 500 Krónur

  • Pick Number: P-45

  • Printing Method: Intaglio engraving

  • Paper: Specialized banknote security paper

  • Circulation Purpose: High-value transactions and reserves

🔎 Collectability & Significance

The 500 Krónur 1968 (P-45) holds a strong position among Icelandic collectors due to:

  • Its status as the highest denomination of the 1960s series

  • Association with Iceland’s early Central Bank period

  • Lower circulation compared to smaller denominations

  • Increasing scarcity in uncirculated or high-grade condition

Well-preserved examples are particularly desirable and continue to gain attention in advanced collections.

500 Krónur 1968 – Iceland (Pick P-45)

Signatures guide for Icelandic currency of the period