1 Króna Non-magnetic

Iceland's króna denominations were overhauled in 1981 following a decade of punishing inflation — by that point the old 1 króna coin had effectively no purchasing power, and the entire coinage system was rationalised before a full monetary reform replaced the króna itself with the new króna at 100:1 in 1981. This copper-nickel issue therefore had an unusually short functional life, circulating into a period of continued inflation that rendered small denominations nearly redundant before the series was even discontinued.

The SIEG 27.1 designation distinguishes this non-magnetic type from a later steel-core variant, a distinction that trips up casual collectors more often than it should.