100 Krooni

Estonia's second post-Soviet banknote series, launched after the successful 1992 currency reform that pegged the kroon to the Deutsche Mark at 8:1, required a more sophisticated production run than the transitional issues printed domestically in Tallinn. De La Rue was brought in for the higher denominations. The 1994 100 Krooni is notable for being issued under the currency board arrangement that gave the Bank of Estonia very limited discretion over money supply — one of the strictest monetary regimes in post-communist Europe, and one that held until euro adoption in 2011.

The security thread on this series is embedded rather than windowed, a detail that distinguishes it from the later 2007 high-security revision of the same denomination.