10 Kroner The Norwegian Spitsbergen Syndicate

Det norske Spitsbergensyndikat was a coal mining company operating at Advent Bay on Svalbard, and like several such Arctic concessions in the early twentieth century, it issued its own scrip for use within the settlement. Norwegian sovereignty over Svalbard was not formally established until the 1920 Paris Treaty took effect, leaving the archipelago in a legal grey zone where company-issued currency was a practical necessity rather than an unusual arrangement.

Emil Moestue in Christiania printed the note, a firm better known for commercial jobbing work than security printing — the watermark is the most substantive deterrent against forgery in an otherwise modest production.