1 Króna Skillemønt type II; single circles as bottom print; red serial number on circles

Iceland's State Treasury handled note issuance directly — there was no central bank until the Seðlabanki was established in 1961, making the Ríkissjóður series unusual by European standards of the period. The Gutenberg press in Reykjavík printed this domestically, which was not a given for small Nordic economies at the time; neighbouring countries routinely contracted Scandinavian or British security printers for their lower denominations.

The red serial number on circles distinguishes this as the second major type within the series — a detail that matters for attribution, since the two types circulated concurrently and are easily conflated in less precise cataloguing.