10 Kroner Portrait and Landscape. Type 2, small watermark

Waterlow & Sons held the Danish contract through the early postwar years, producing this series in London while Denmark rebuilt its domestic financial infrastructure. The "Type 2" designation distinguishes it from the earlier variant by a reduced watermark size — a revision introduced partway through the run, likely in response to counterfeiting concerns that were circulating through European central banking circles at the time, though the exact trigger is not publicly documented.

Ib Andersen was one of Denmark's foremost graphic artists of the period; his involvement was unusual for a note printer with Waterlow's volume output and house style preferences.