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50 Kroner 2nd version: Zigzag in watermark

Issuer Nationalbanken i Kjøbenhavn
Year 1904-1907
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In circulation to 31 January 1920
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Obverse description Purple letterpress print on white paper. The right vignette presents a crown at the top, five circular guilloche fields arranged below, and three heraldic lions at the base — the latter derived from the lions of the throne room at Rosenborg Castle. The left vignette shows a crown surmounting an allegorical female figure bearing the lesser coat of arms of Denmark.
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Protection type Watermark
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Comments

The 2nd version designation here refers specifically to the modified watermark — a zigzag pattern replacing the earlier plain watermark used when the series first appeared. Nationalbanken i Kjøbenhavn introduced such incremental security changes quietly, without formally retiring circulating stock, meaning both versions coexisted in Danish commerce for some years without most users noticing or caring about the distinction.

Pick 8 is scarce in any form. The 1904–1907 window was short, and Danish banknote survival rates from this period are poor — many notes were withdrawn and pulped as a matter of routine monetary hygiene long before collector interest in early Nationalbanken material developed.