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500 Krónur Icelandic banknotes anniversary, 92.5% silver
| Issuer | Central Bank of Iceland |
|---|---|
| Year | 1986 |
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| Composition | Log in to see details |
| Weight | 20.00 g |
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| Obverse description | A traditional Icelandic sailing vessel depicted in profile, shown underway on stylized waves with two masts carrying full sails and a small crew visible amidships. The vessel is rendered in fine detail with rigging lines clearly delineated against the polished field. The denomination legend '500 FIMM HUNDRUÐ KRÓNUR' arcs along the upper periphery, while 'ÍSLAND' is inscribed along the lower rim beneath the waves. |
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| Mintage | 1986 - Proof - 5,000 |
| 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.