Editing Icelandic króna (section)

=={{anchor|ISK}}Second krona, 1981–present==
In 1981, the Icelandic krona was [[redenomination|revalued]], due to high inflation, with 100 old krona (ISJ) being worth 1 new krona (ISK) and a new 500 krona banknote was first put into circulation in 1981. The 1000 krona was put into circulation in 1984 and the 5000 krona in 1986. The 2000 krona banknote was put into circulation in 1995 but never became very popular. The 10,000 krona banknote was put into circulation in 2013.

Coins of less than one krona have not circulated for many years. In September 2002, [[Davíð Oddsson]], the Icelandic [[Prime Minister of Iceland|Prime Minister]] at the time, signed two regulations decreeing that all monetary amounts on invoices and financial claims should be stated and paid in whole krona only and that coins with a value of less than one krona should be withdrawn from circulation. In 2007, the eyrir formally ceased to exist as a subunit of the Icelandic króna.

===Coins===
In 1981, coins were introduced in denominations of 5, 10 and 50 aurar ''(cents)'', 1 krona and 5 krona. These were followed by 10 krona pieces in 1984, 50 krona in 1987 and 100 krona in 1995. Since 2003, Icelandic banks no longer accept any coins denominated in aurar ''(cents)''.<ref name="aurar">{{cite web|url=http://www.cb.is/publications/news/news/2003/08/15/Withdrawal-of-coin-denominated-in-aurar/|title=Withdrawal of coin denominated in aurar|date=15 August 2003|website=cb.is|publisher=[[Central Bank of Iceland]]|access-date=1 July 2020}}</ref>

{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
! colspan=11 | Second series (1981–1995)<ref name=cbic>{{Cite web|url=https://www.cb.is/financial-stability/oversight-of-financial-market-infrastructures/banknotes-and-coin/valid-coins-in-circulation/|title=Valid coins in circulation|publisher=[[Central Bank of Iceland]]|access-date=30 June 2020}}</ref><ref name=cbicw>{{Cite web|url=https://www.sedlabanki.is/uploads/files/opinbergjald220..pdf|title=Opinber gjaldmiðill á Íslandi: Útgáfa og auðkenni íslenskra seðla og myntar|publisher=[[Central Bank of Iceland]]|page=65|language=is|access-date=1 July 2020}}</ref>
|-
! rowspan=2 | Image
! rowspan=2 | Value
! colspan=4 | Technical parameters
! colspan=3 | Description
! rowspan=2 | Issued<br/>from
! rowspan=2 | Lapse
|-
! Diameter<br/>(mm)
! Mass<br/>(g)
! colspan=2 | Composition
! Edge
! Obverse
! Reverse
|-
| align=center | {{r|cbicw}}
| 5&nbsp;a
| align=center | 15.00
| align=center | 1.50
| style="background-color:#e0954f;"|
| rowspan=3 | [[Bronze]]:<br />{{small|Cu: 97%<br/>Zn: 2.5%<br/>Sn: 0.5%}}
| rowspan=4 | Smooth
| [[Landvættir|Bird]]
| [[Common skate]]<br/>(''Raja batis'')
| rowspan=3 | 1981
| rowspan=4 | 1 October 2004<ref name="aurar"/>
|-
| align=center | {{r|cbicw}}
| 10&nbsp;a
| align=center | 17.00
| align=center | 2.00
| style="background-color:#e0954f;"|
| [[Landvættir|Bull]]
| [[Squid]]<br/>([[Cephalopoda]])
|-
| rowspan=2 align=center | {{r|cbicw}}
| rowspan=2 | 50&nbsp;a
| rowspan=2 align=center | 19.50
| align=center | 3.00
| rowspan=2 style="background-color:#e0954f;"|
| rowspan=2 | [[Landvættir|Dragon]]
| rowspan=2 | [[Pandalus borealis|Shrimp]]<br/>(''Pandalus borealis'')
|-
| align=center | 2.65
| [[Copper]]-plated [[steel]]
| 1986
|-
| rowspan=2 align=center | {{r|cbic}}
| rowspan=2 | 1&nbsp;kr.
| rowspan=2 align=center | 21.50
| align=center | 4.50
| rowspan=2 style="background-color:#dcdcdc;"|
| [[Cupronickel]]:<br />{{small|Cu: 75%, Ni: 25%}}
| rowspan=7 | Reeded
| rowspan=2 | [[Landvættir|Mountain giant]]
| rowspan=2 | [[Atlantic cod]]<br/>(''Gadus morhua'')
| 1981–1987
| rowspan=8 | ''Current''
|-
| align=center | 4.00
| [[Nickel]]-plated [[steel]]
| 1989
|-
| rowspan=2 align=center | {{r|cbic}}
| rowspan=2 | 5&nbsp;kr.
| rowspan=2 align=center | 24.50
| align=center | 6.50
| rowspan=2 style="background-color:#dcdcdc;"|
| [[Cupronickel]]:<br />{{small|Cu: 75%, Ni: 25%}}
| rowspan=6 | [[Landvættir|Land wights]]
| rowspan=2 | Two [[common dolphin]]s<br/>(''Delphinus delphis'')
| 1981–1992
|-
| align=center | 5.60
| [[Nickel]]-plated [[steel]]
| 1996
|-
| rowspan=2 align=center | {{r|cbic}}
| rowspan=2 | 10&nbsp;kr.
| rowspan=2 align=center | 27.50
| align=center | 8.00
| rowspan=2 style="background-color:#dcdcdc;"|
| [[Cupronickel]]:<br />{{small|Cu: 75%, Ni: 25%}}
| rowspan=2 | Four [[capelin]]<br/>(''Mallotus villosus'')
| 1984–1994
|-
| align=center | 6.90
| [[Nickel]]-plated [[steel]]
| 1996
|-
| align=center | {{r|cbic}}
| 50&nbsp;kr.
| align=center | 23.00
| align=center | 8.25
| style="background-color:#ffe550;"|
| rowspan=2 | [[Nickel brass]]:<br />{{small|Cu: 70%;<br/>Zn: 24.5%;<br/>Ni: 5.5%}}
| [[Carcinus maenas|Shore crab]]<br/>(''Carcinus maenas'')
| 1987
|-
| align=center | {{r|cbic}}
| 100&nbsp;kr.
| align=center | 25.50
| align=center | 8.50
| style="background-color:#ffe550;"|
| Interrupted<br/>reeding
| [[Cyclopterus lumpus|Lumpfish]]<br/>(''Cyclopterus lumpus'')
| 1995
|-
|colspan="11"|{{Standard coin table notice|BrE=Y}}
|}

===Banknotes===
Icelandic banknotes are printed with the dates from which the legal basis of the currency derives. In 1981, notes were issued in denominations of 10, 50, 100 and 500 krona based on the law of 29 March 1961. 1000 krona notes were introduced in 1984, followed by 5000 krona notes in 1986 with the same law.

100, 500, and 1000 krona notes were reissued in 1994 under the law of 5 May 1986. In the following year, a new denomination of 2000 krona was issued for the first time. The 2000 krona note is subtly different from the other notes. For example, the underprint pattern extends all the way upward and downward, while the other denominations had white margins on every side. The number ''2000'' is printed in multi color for 3 of the 4 occurrences. And the numeral ''2000'' on the lower left corner of reverse is vertical. The "shadow" of the numeral is printed with SÍ in [[microprint]].

The 22 May 2001 series, saw substantial changes. The underprint and microprint features of the 2000 krona note were extended to other  denominations. The 1000 and 5000 krona notes also received metallic foils next to the portrait.

In 2013, a new 10000 krona banknote was introduced. The face of natural scientist and poet [[Jónas Hallgrímsson]] appears on the bill, as well as the [[Eurasian golden plover]].<ref>Örlygur Hnefill Örlygsson. [http://www.goiceland.is/2013/09/the-golden-plover-on-new-10000-isk-banknote/ "The Golden Plover on new 10000 ISK banknote"] {{Webarchive|url=https://web.archive.org/web/20160729202203/http://www.goiceland.is/2013/09/the-golden-plover-on-new-10000-isk-banknote/|date=2016-07-29}}. [[goIceland]]. 26 September 2013.</ref> Notes of 100 krona or less are no longer in circulation, as they have been withdrawn by the central bank.

{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
! colspan=11 | ''Cultural scholars'' series<ref name=cbicb>[http://www.sedlabanki.is/?PageID=272 "Valid notes in Iceland"] {{webarchive|url=https://web.archive.org/web/20060624141257/http://www.sedlabanki.is/?pageid=272 |date=2006-06-24 }}. ''Central Bank of Iceland''.</ref>{{r|cbicw}}<br/>{{small|Designers: Kristín Þorkelsdóttir and Stephen Fairbairn}}
|-
! rowspan=2 | Image
! rowspan=2 | Value
! rowspan=2 | Dimensions<br/>(mm)
! rowspan=2 colspan=2 | Main<br/>colour
! colspan=2 | Description
! rowspan=2 | Law
! rowspan=2 | Issued<br/>from
! rowspan=2 | Withdrawn
|-
! Obverse
! Reverse
|-
| align=center | {{r|cbicb}}
| 10 kr.
| align=center | 130 × 70
| style="background:#80A0C0;"|
| Dark blue
| [[Arngrímur Jónsson]]
| Old Icelandic household {{small|([[Auguste Mayer]])}};<br/>Household implements
| rowspan=2 | 1961
| rowspan=4 | 1981
| rowspan=3 | 2007
|-
| align=center | {{r|cbicb}}
| 50 kr.
| align=center | 135 × 70
| style="background:#C0A080;"|
| Brown
| [[Guðbrandur Þorláksson]]
| Printmakers from 16th century;<br/>Book knot from a bible
|-
| align=center | {{r|cbicb}}
| 100 kr.
| align=center | 140 × 70
| style="background:#80C080;"|
| Green
| [[Árni Magnússon]]
| Monastic scribe;<br/>Door ornament (Svarfaðardalur)
| 1961<br/>1986
|-
| align=center | {{r|cbicb}}
| rowspan=2 | 500 kr.
| rowspan=2 align=center | 145 × 70
| rowspan=2 style="background:#FF8080;"|
| rowspan=2 | Red
| rowspan=2 | [[Jón Sigurðsson]]
| rowspan=2 | Jón at his writing desk;<br/>[[Menntaskólinn í Reykjavík]]
| 1961<br/>1986<br/>2001
| rowspan=9 | ''Current''
|-
| align=center | <ref name=cbib>{{cite web |url=https://cb.is/payments/banknotes-and-coin/valid-banknotes-in-circulation/ |title=Valid banknotes in circulation |website=cb.is| publisher=Central Bank of Iceland|access-date=10 April 2025}}</ref>
| 2001
| 2005
|-
| align=center | {{r|cbicb}}
| rowspan=2 | 1000 kr.
| rowspan=2 align=center | 150 × 70
| rowspan=2 style="background:#C080FF;"|
| rowspan=2 | Purple
| rowspan=2 | [[Brynjólfur Sveinsson]]
| rowspan=2 | Brynjólfskirkja church, [[Skálholt]];<br/>''Madonna'' on a golden ring
| 1961<br/>1986<br/>2001
| 1984
|-
| align=center | {{r|cbic}}
| 2001
| 2004
|-
| align=center | {{r|cbic}}
| 2000 kr.
| align=center | 150 × 70
| style="background:#C0A080;"|
| Brown
| [[Jóhannes Kjarval]]
| ''Yearning for Flight'' and<br/>''Woman and Flowers'' by Kjarval
| 1986
| 1995
|-
| align=center | {{r|cbicb}}
| rowspan=2 | 5000 kr.
| rowspan=2 align=center | 155 × 70
| rowspan=2 style="background:#80B0B0;"|
| rowspan=2 | Blue<br/>green
| rowspan=2 | [[Ragnheiður Jónsdóttir]]
| rowspan=2 | Ragnheiður instructing in embroidery;<br/>Initials in embroidery pattern
| 1961
| 1986
|-
| align=center | {{r|cbic}}
| 2001
| 2003
|-
| rowspan=2 align=center | {{r|cbic}}
| rowspan=2 | 10000 kr.
| rowspan=2 align=center | 162 × 70
| rowspan=2 style="background:#80C0FF;"|
| rowspan=2 | Blue
| rowspan=2 | [[Jónas Hallgrímsson]]
| rowspan=2 | [[European golden plover|Plover]]; ''[[Skjaldbreiður]]'' {{small|(drawing)}};<br/>''Fjallið Skjaldbreiður'' {{small|(poem)}} by Jónas
| 2001
| rowspan=2 | 2013
|-
| 2019
|-
|}