50 Kroner - Haakon VII Government in exile, war notes

Norges Bank's wartime notes were produced in London under the authority of the Norwegian government-in-exile after the German occupation severed normal banking operations. Waterlow & Sons handled the printing — a natural choice given their long relationship with Allied governments requiring emergency currency work during the war years. This series, authorized from London, was intended for use following liberation rather than for active wartime transactions.

The P#21B designation distinguishes a signature variety within the 1944 issue. Notes from this production run were shipped to Norway after May 1945 and entered circulation during the immediate post-liberation period alongside older pre-occupation issues.