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1 Króna Skillamynt type I; double circles as bottom print; serial number in the top left
| Issuer | Ríkissjóður Íslands (State Treasury of Iceland) |
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| Year | 1921 |
| Type | Standard circulation banknote |
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| Obverse description | Blue letterpress on white paper with an all-over guilloche underprint of double circles. The denomination numeral "1" appears in a circle at top centre, flanked by matching numerals at left and right; the large inscription "KRÓNA" runs across the centre field above two lines of legal authority text and two manuscript signatures. |
|---|---|
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| Reverse description | Blue letterpress on white paper with a geometric lattice guilloche underprint. A central vignette presents the Icelandic coat of arms (1919 version) surmounted by a royal crown and flanked by foliate scrollwork, with denomination numerals "1" in circular cartouches at left and right. |
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| Comments |
Iceland's State Treasury began issuing small-denomination skillamynt ("change money") notes partly because coinage was in chronic short supply — the island had no mint of its own, and importing metal coin from Denmark was slow and expensive. Gutenberg in Reykjavík handled the printing domestically, which was unusual for Icelandic paper money of the period; most earlier issues went to Copenhagen or London presses.
The Type I designation within this series relates to the placement of the serial number and the double-circle device used in the underprint — later printings shifted both, creating enough variation to distinguish distinct catalogue types despite identical face values and dates.