10 Krónur Íslands Banki, privat bank issue

Íslands Banki was a privately owned commercial bank that held note-issuing privileges in Iceland from 1904 until the state-owned Landsbanki Íslands absorbed those functions in the late 1920s. This 1920 issue came during a period of genuine monetary instability — post-WWI inflation had battered Scandinavian currencies broadly, and the króna was no exception. The bank's reliance on Giesecke & Devrient in Leipzig for production was not unusual for the region; G&D supplied numerous small European issuers who lacked domestic printing infrastructure.

P#16 is among the scarcer survivors of the private issue series, as redemption and destruction were thorough once Landsbanki consolidated control.