1 Króna Skillemønt type III

Iceland's occupation by British forces in May 1940 severed normal commercial printing ties with continental Europe, forcing the State Treasury to produce emergency small-denomination notes domestically. Gutenberg Trykkeri, a Reykjavik commercial printer with no particular tradition in security printing, took on the work — which accounts for the relatively modest execution of this series compared to earlier Icelandic issues.

Jakob Möller served as Minister of Finance throughout the war years, and his signature appears across the full run of this type. The note filled a genuine gap: metal coinage had largely disappeared from circulation, hoarded or melted, and small change was a practical problem.