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500 Krónur Icelandic banknotes anniversary, 92.5% silver

Issuer Central Bank of Iceland
Year 1986
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Technique Milled
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Obverse script Latin
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Reverse script Latin
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Additional information

Issued to mark the 75th anniversary of Iceland's central bank, the Landsbanki Íslands, this commemorative was struck in sterling silver at a moment when Iceland's monetary policy was under serious strain — the mid-1980s brought chronic inflation that regularly exceeded 40% annually, making a silver commemorative nominally worth 500 krónur something of a quiet irony.

The coin-for-banknote format — reproducing a paper denomination in struck silver — was an increasingly fashionable commemorative device in the 1980s, deployed by several Nordic central banks during the decade.

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