Iceland 1996 krona
This specimen was struck for the republic of Iceland starting in 1989. The inflation of the 1960's and 1970's killed off the smaller denominations (one eyrir and five aurar in 1966, twenty-five aurar in 1967, ten aurar in 1974). In 1981, the krona was reformed and 100 old krona = 1 new krona. The new krona hovered between 70 ISK/dollar and 95/dollar until the crisis of 2008, precipitated by the collapse of several Icelandic banks. The exchange rate plunged to 180/dollar but is now about 139 ISK/dollar (June 2024). As a result, few Icelandic coins circulate. The one krona coin was converted to nickel plated steel in 1989 and struck in that form since. The most recent date in the SCWC is 2011. Few issues of the republic are catalogued at more than a few dollars.
Recorded mintage: 6,000,000.
Specification: 4 g, nickel plated steel, 21.5 mm diameter, plain edge.
Catalog reference: KM 27a.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
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