1 Kroon

The 1934 kroon was struck during a pivotal year in Estonian politics: on March 12th of that year, Konstantin Päts executed a bloodless coup, dissolving parliament and ruling by decree. Coin production continued uninterrupted — the monetary system was one institution Päts had no interest in disrupting. Estonia's kroon had been pegged to the Swedish krona since its introduction in 1928, a deliberate policy choice that gave the young republic's currency credibility it could not otherwise have commanded on its own.