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500 Krónur Icelandic banknotes anniversary, 50% silver
| Issuer | Central Bank of Iceland |
|---|---|
| Year | 1986 |
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| Value | 500 Krónur |
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| Obverse description | A traditional Icelandic sailing fishing vessel under full sail is depicted in the central field, rendered in detailed relief with crew members visible aboard and stylized waves below the hull. The denomination legend '500 FIMM HUNDRUÐ KRÓNUR' curves along the upper periphery, while 'ÍSLAND' appears in the lower field. The design is enclosed by a fine beaded border. |
|---|---|
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| Reverse description | A seated allegorical female figure personifying Iceland occupies the central field, holding a sword in one hand and a shield in the other, evoking the traditional Icelandic guardian spirit (landvættur). The commemorative legend '· ÍSLENSK SEÐLAÚTGÁFA Í 100 ÁR ·' curves around the upper periphery, with the dual dates '1886 1986' flanking the lower field to mark the centenary of Icelandic banknote issuance. The design is enclosed by a beaded border. |
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| Additional information |
Issued to mark the 1100th anniversary of the settlement of Iceland, this coin commemorates the traditional date of 874 AD when Ingólfr Arnarson established the first permanent Norse settlement at Reykjavík. The anniversary itself drove a wave of Icelandic commemorative issues through the mid-1980s. At 50% silver, this sits at the lower end of the commemorative alloy range — a budgetary concession common to smaller issuing nations during the period, when silver prices remained volatile following the Hunt Brothers collapse of 1980.