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10 Kroner 1st version: No zigzag in watermark

Issuer Danmarks Nationalbank
Year 1891-1903
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Currency Krone (1873-date)
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Reverse description The upper half of the note presents three arched windows within a guilloche border, separated by a central horizontal bar bearing the denomination in text. The lower half displays ten one-krone coins arranged in a row, with the denomination value repeated in letterpress along both vertical side margins of the note.
Reverse lettering TI KRONER. 10 KRONER
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Comments

Danmarks Nationalbank issued this note under the Nationalbank Act of 1936 — wait, the relevant legislation here is the 1818 charter and subsequent reforms. The P#2 series was Denmark's first attempt at a standardized small-denomination national note following the transition away from Rigsbank and Rigsbanktegn paper. The absence of a zigzag pattern in the watermark is a recognized die variety distinguishing earliest impressions from later production runs of the same type; collectors have used this feature to sequence the series since the watermark was modified mid-run without a formal issue date change.

Nilaus Fristrup's involvement as designer is notable — he was primarily a painter, not a professional bank-note artist, which was unusual for the period.