Tokens of Iceland
These specimens comprised lot 27906 in Heritage sale 3024 (Chicago, April 2013) which sold for $397.15. The catalog description[1] noted, "Token 1910 Lefolii Set & Eight Others, J.R.B. Lefolii of Eyrarbakka issued this trio of high-quality brass tokens denominated 100, 25 and 10 Ore around 1910. The backside of each has a wreath with the words GEGN VORUM in its center. We cannot recall previously having seen this mint-state set which was obtained from the famous Mel Came at the New York ANA convention in 1976 for $35. Another interesting piece is from a Bakery in Pingeyrar good for 1 Rugbraud; this well made brass, grading better than VF, has an arms as the full device on its reverse. The other seven pieces are apparently related. Most different is a brass which shows ICELAND BASE EXCHANGE plus Trade Value 5 Cents Base Exchange / Use in US Forbidden. The others, three of 10 Cents and three of 5 Cents, include a Keflavik piece for the Armed Forces E.M. Club while the others mention Rockville NCO and the company which produced them. Quality levels are superior for such issues, attributions are tentative and the lot is sold as is, NO Return. From The Dana Roberts Collection and Study Group."
American military tokens
The first group seem to be tokens intended for use by American servicemen in Iceland and would not have been valid off base. They are inscribed in English, use American units and were manufactured by an American company. As the address on one of the tokens is given as "Baltimore 2", we deduce that these were manufactured prior to the introduction of Zip Codes in the U.S. in the late fifties.
Icelandic tokens
The second group comprised tokens issued by Icelandic merchants for use by natives. They are denominated in Icelandic units (aurar and kronur). We presume that they are much scarcer.
Iceland (1846) 4 skilling token
This specimen was lot 957 in Steve Album Auction 52 (Santa Rosa, CA, May 2025), where it sold for $192. The catalog description[2] noted, "ICELAND: AE 4 skilling i vare token, ND (1846), KM-TN8, Sieg-6, token issued by C.F. Siemsen of Reykjavik, also valid at Siemsen's store in the Faeroe Islands, a bit spotty with quite a bit of original luster, XF. Although monetary convention allowed the usage of Danish, Norwegian and Swedish coins in Iceland, few coins found their way there. Icelandic merchants were thus forced to issue their own private money. Token issues began in the mid-19th century. Some merchants, though, posted inflated token prices alongside legal coins. As a result, the production and usage of tokens in Iceland was prohibited in 1901."
- [1]Bierrenbach, Cristiano, Warren Tucker and David Michaels, Heritage World and Ancient Coins Auction 3024, featuring the Kairos and Elizabeth McPhall Charters Collections, Dallas: Heritage Auction Galleries, 2013.
- [2]Album, Stephen, Joseph Lang, Paul Montz, Michael Barry and Dustin Wagner, Auction 52, featuring the Dr. Robert A. Rosenfeld Collection and the Almer H. Orr III Collection, Santa Rosa, CA: Stephen Album Rare Coins, Inc., 2025.