10 Øre The Norwegian Spitsbergen Syndicate

Det norske Spitsbergensyndikat operated coal mines at Advent Bay on Svalbard and issued this note — along with a small series of other denominations — as company scrip for use among its workforce at the settlement. The archipelago had no formal monetary system at the time; Norway would not exercise full sovereignty over Svalbard until the 1920 Treaty of Paris came into force in 1925, leaving mining companies to run their camps largely as self-contained economies.

Emil Moestue in Kristiania (the city was renamed Oslo in 1925) printed the series, and the watermark is the most substantive security feature for a note intended to circulate only within a single remote settlement. Redemption outside the camp was never the point.