The kroon was the official currency of Estonia from 1928 to 1940 and from 1992 to 2011. The official currency symbol: kr. The kroon was pegged to the Swedish krona at par in 1924. The Bank of Estonia exchanged kroon for foreign currencies to ensure the kroon’s reputation. These actions helped restore confidence in the domestic banking and monetary system, assisting in the country’s economic recovery and improving the Estonian state’s worldwide reputation.
The first kroon was introduced in 1928, replacing the mark. Then, the Eesti Pank (Bank of Estonia) introduced coins in denominations of 25 senti pieces, followed by 1 sent in 1929, 2 krooni in 1930, 5 senti and 10 senti in 1931, 1 kroon in 1933, 2 senti and 1 kroon in 1934, 20 senti in 1935, 50 senti in 1936. The last pre-WWII Estonian coin, the new 1 sent (date 1939), was produced on July 25, 1940, four days after forming the Estonian SSR.
The second kroon was reintroduced in 1992, replacing the Soviet ruble. After that, coins were issued in denominations of 5, 10, 20 and 50 senti and 1 kroon, followed by a new 20 senti coin in 1997 and 1 kroon in 1998. However, the 1 kroon coins issued in 1992, 1993, and 1995 were demonetized in 1998 due to their weight and composition being too similar to German one-mark coins, and new 1 kroon coins were produced.
The euro replaced the krone as the national currency of Estonia on January 1, 2011. The krone circulated together with the euro until January 15, 2011; after this date, it lost its status as legal tender. The Eesti Pank banknotes and coins of crowns for euros indefinitely.
The 1 Estonian kroon coin front presents the denomination, followed by the country’s name. The reverse of the coin features the three lions of the National Coat of Arms, which divide the issue date. This coin is part of the 1998 – 2006 series, its rim is fluted and plain, and its color is gold.