Iceland 1 Króna

Description

The króna is the official currency of Iceland since 1918 when the country separated the currency from the Danish krone.  The name króna is derived from the Latin word “crown” and the official currency symbol: kr. In 1921, the “Ríkissjóður Íslands” (The Treasury of Iceland) took over the currency production and introduced the first coins in denomination of 10 and 25 aurar, followed by 1 krona and 2 krónur and by 1, 2, and 5 aurar pieces in 1926. After a monetary reform carried out in 1981 due to the high inflation suffered by the currency, the króna was revalued. Coins were introduced in denominations of 5, 10, and 50 aurar (cents), and 1 and 5 krónur, followed by 10 krónur in 1984, 50 krónur in 1987, and 100 krónur in 1995. Since 2003, the Icelandic government stopped accepting coins in aurar denominations.

The 1 Icelandic króna coin front design features Bergrisi úr landvættamerki, who is a giant one of the four protector and guardian spirits (Landvættir) in Norse mythology and Germanic neopaganism, the name of the country on top and the issue date at the bottom. The reverse of the coin illustrates an Atlantic codfish and the denomination. The lettering of the coin is presented in the Icelandic language. This coin is part of the 1989 – 2011 series, its rim is fluted, and its color is silver.

Text: EIN KRÓNA, ÍSLAND 2003, 1 KR.