500 kronur 1961
About This Note
This is an outstanding example of Iceland's 500 Kronur note from 1961, graded in uncirculated condition with pristine preservation. The note features a striking portrait of Hannes Hafstein on the obverse rendered in green and teal tones, complemented by elegant pink/red ornamental designs, while the reverse depicts a meticulously engraved scene of Icelandic fishermen at work aboard a fishing vessel. The sharp detail throughout, absence of any wear or handling marks, and crisp presentation make this an exemplary specimen of mid-20th century Icelandic currency design.
Common. This is a standard circulating note from a major Central Bank issue with substantial print runs typical of 500 Kronur denominations from the 1961 series. There are no historical records indicating limited production, recall, or scarcity. While uncirculated examples command modest premiums over circulated specimens (typical for older banknotes in fine condition), the note itself remains readily available in the collector market. UNC specimens generally trade in the $15-35 range, consistent with common-grade historical banknotes.
Issued on March 29, 1961, by Sedlabanki Islands (the Central Bank of Iceland), this note commemorates Hannes Hafstein, a prominent Icelandic statesman and cultural figure of the late 19th and early 20th centuries. The reverse design's emphasis on fishermen and maritime labor reflects Iceland's profound economic dependence on fishing and seafaring during this period, when the nation's identity and prosperity were intimately tied to its ocean resources. This note was issued during Iceland's post-independence consolidation period, reflecting national pride in both historical leadership and contemporary economic foundations.
The obverse features a formal portrait of Hannes Hafstein (1861-1913), Icelandic statesman and cultural icon, depicted as a bearded gentleman in 19th-century formal attire facing left in profile. The portrait occupies the left portion in green/teal intaglio engraving. The right side displays ornate decorative security patterns including a prominent circular emblem or seal in pink/red tones, with intricate rosette designs and geometric flourishes typical of period currency design. The reverse presents a detailed narrative scene of Icelandic maritime labor: multiple fishermen engaged in fish processing aboard a working fishing vessel, rendered with fine detail showing the boat's interior, equipment, containers, and the ocean seascape beyond, emphasizing the nation's fishing heritage.
Front side: '500' (denomination); 'SEDLABANKI ISLANDS' (Central Bank of Iceland); 'FIMM HUNDRUD KRONUR' (Five Hundred Kronur); 'F3759849' (serial number); 'SAMKVAEMT LOGUM NR. 10. 28. MARZ 1961' (In accordance with Law No. 10, 28 March 1961); 'HANNES HAFSTEIN' (portrait identification/signature). Back side: '500' (denomination markers, positioned at left and right margins).
Intaglio engraving (recess printing), the standard security printing method for high-value banknotes of this era. The fine line work, detailed portraiture, complex ornamental patterns, and the precision of the fishing scene all demonstrate traditional intaglio craftsmanship. The microprint patterns and security details were likely produced by a specialized security printer; Sedlabanki Islands typically employed European security printers for this series, though the specific printer is not definitively identified in available catalog references.
Pick P-45(7) designation indicates this is part of the standard 1961 issue series. The noted serial number prefix 'F' may indicate a specific printing batch or series. No major overprints, color variations, or printing varieties are evident in the visual analysis. The date reference 'L. 29.03.1961' on the catalog indicates the legal authorization date. Collectors should note that minor variations in serial number prefixes and signatures of bank officials may exist across the print run, though these do not constitute catalogued varieties in the Pick system.
