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5 Kroner - Haakon VII Government in exile, exchangenotes

Issuer Norges Bank
Year 1942
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Printer Waterlow & Sons Limited, United Kingdom (1810-1961)
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Protection type Watermark
Protection description Portrait watermark of Norwegian diplomat and explorer Fridtjof Nansen
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Comments

Norges Bank's wartime government-in-exile operated from London after the German occupation of Norway in April 1940, and this 1942 note was produced by Waterlow & Sons as part of a series intended to back a post-liberation monetary settlement rather than circulate freely under occupation. The notes were held in reserve in Britain and issued primarily as exchange instruments — a parallel currency infrastructure maintained against the day of liberation.

Waterlow had deep experience printing currency for governments in exile; they produced notes for several occupied European states during the same period. The P#19A designation distinguishes this from related variants in the exile series.

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