500 kronur 1961
About This Note
This 500 Króna note from 1961 features a portrait of Hannes Hafstein, a prominent Icelandic statesman, rendered in fine engraving on the obverse with decorative rosette patterns in green and pink. The reverse depicts a striking maritime scene of fishermen processing their catch aboard a vessel, reflecting Iceland's historical dependence on fishing industry. The note shows a horizontal center fold consistent with circulation handling, otherwise displaying sharp print quality and well-preserved detail typical of UNC-graded examples.
Common. The 500 Króna denomination from 1961 remains readily available in numismatic markets, and this Pick number represents a standard circulation note from Iceland's mid-20th-century currency series. No documented print run restrictions, recall notices, or supply shortages are known for this note. UNC-graded examples are desirable but not scarce, with consistent availability in the collector market.
Issued under Law No. 10 dated 29 March 1961 by Sedlabanki Íslands (Central Bank of Iceland), this note was produced during a period of post-World War II economic development and the establishment of Iceland's independent monetary authority. The reverse design celebrating fishermen and maritime labor underscores Iceland's economy during this era, which remained heavily dependent on fishing and fish processing industries. Hannes Hafstein, depicted on the obverse, was a significant figure in Icelandic political and cultural history, making his portraiture a matter of national importance.
The obverse features a left-facing profile portrait of Hannes Hafstein (1861-1941), Icelandic writer, politician, and Prime Minister, depicted in formal 19th-century dress with distinctive beard and white collar. The design employs ornamental geometric border patterns on the left margin with elaborate pink-toned rosette decorations on the right side, creating a classical banknote aesthetic. The reverse showcases a detailed maritime labor scene depicting multiple fishermen engaged in fish processing aboard a fishing vessel, with visible nets, buckets, equipment, and processing work; the seascape background includes waves and seabirds, emphasizing Iceland's maritime heritage. Both sides employ fine line engraving throughout to create texture and security through complexity.
FRONT SIDE: '500' (denomination numeral); 'SEDLABANKI ÍSLANDS' (Central Bank of Iceland); 'FIMMHUNDRUD KRÓNA' (Five Hundred Krona); 'HANNES HAFSTEIN' (portrait subject name); 'SAMKVAEMT LOGUM NR. 10, 29 MARZ 1961' (In accordance with Law No. 10, 29 March 1961); 'F3514032' (serial number). BACK SIDE: '500' (denomination numerals in lower corners).
Intaglio (recess) engraving, the standard security printing method for banknotes of this era. The fine line work, intricate rosette patterns, ornamental borders, and the depth of detail visible in both the portrait and maritime scene are characteristic of high-quality engraved banknote production. This note was likely produced by a specialized security printer, though specific printer attribution for this Pick number would require access to Central Bank of Iceland archival records.
Pick 45(2) designation indicates this is the second type/variety of the 1961 500 Króna note. Varieties may be distinguished by signature combinations, subtle design modifications, or printing facility changes. The observed serial number prefix 'F' and serial number 'F3514032' should be noted for variety documentation. Collectors should cross-reference signature varieties and printing sequences against the Pick catalog's detailed varieties section for this denomination, as Icelandic notes from this period sometimes exist with multiple signature combinations representing different issuing periods within the same nominal date.
