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5 Kronur 1919. Banknote issued by a branch of a bank in the Vestmannaeyjar Islands, Iceland

in Krause book Number: 10
Years of issue: 1919
Signatures: Sighvatur Bjarnason, Haraldur Viggó Björnsson
Serie: 1904 Issue
Specimen of: 1904
Material: Cotton fiber
Size (mm): 123 х 70
Printer: Giesecke und Devrient GmbH, Leipzig

* All pictures marked magnify are increased partially by magnifying glass, the remaining open in full size by clicking on the image.

** The word "Specimen" is present only on some of electronic pictures, in accordance with banknote images publication rules of appropriate banks.

5 Kronur 1919. Banknote issued by a branch of a bank in the Vestmannaeyjar Islands




Oblique lines.

For lack of space in the Comments I write here about the signatories on the banknote:

Sighvatur Kristján Bjarnason

Sighvatur Kristján Bjarnason (1859-1929).

He became the bank governor of Íslands banki and for a long time was a mayor in Reykjavík and president of the city council from 1916 to 1920.

September 1880 - Sighvatur Bjarnason, writer, gets a metered plot at Vesturgata Street for a residential building, 12 x 10 painted base. The building was to be 5 feet from the road. Construction of the house began in early 1881 and in May of the same year Sighvatur's license was granted to build a four-storey long storage shed at the western corner of the house. The first fire maintenance of the property was made October 25, 1881. It says that the house is built of masonry walls and brick. paved tables. The gates of the building are clad with the enaustic fork iron-clad. In the house there are five complete rooms of a secondary house. Under the house is a barn.

Sighvatur Kristján Bjarnason

Vesturgata 28. House was built in 1881. Sighvatur Bjarnason, later, built house on Amtmannstígur 2.

Sighvatur Kristján Bjarnason

His wife was Ágústa Sigfúsdóttir. In 1906, Sighvatur and Ágústa moved to Amtmannstígur 2, in Reykjavik, a very special house, built by Sighvatur from the parts of container ship. Then their son, Sigfús P. Sighvatsson, was only three years old. ( .icelan)

Haraldur Viggó Björnsson

Second man, whos signature is on my banknite is Haraldur Viggó Björnsson.

He was born on October 30, 1889 and died on March 14, 1946.

In the years 1910-1914, Viggó sang in the quartet "Foster Brothers" ("Fóstbræður") in Reykjavik, with his cousins.

Viggó was the CEO of Utvegsbanki Vestmannaeyjar and chairman of the Utvegsbarbafélag Vestmannaeyjar since its establishment in 1919.

This fact gives me reason to believe, that my banknote have been issued by this particular branch of the bank!


5 Kronur 1919. Banknote issued by a branch of a bank in the Vestmannaeyjar Islands

Christian IX

On left side is the portrait of His Majesty King of Demark Christian IX, made after the photo (1900) by Northrop, Henry Davenport (1836-1909).

Christian IX (8 April 1818 – 29 January 1906) was King of Denmark from 1863 until his death in 1906. From 1863 to 1864, he was concurrently Duke of Schleswig, Holstein and Lauenburg.

Growing up as a prince of Schleswig-Holstein-Sonderburg-Glücksburg, a junior branch of the House of Oldenburg which had ruled Denmark since 1448, Christian was originally not in the immediate line of succession to the Danish throne. However, in 1852, Christian was chosen as heir to the Danish monarchy in light of the expected extinction of the senior line of the House of Oldenburg. Upon the death of King Frederick VII of Denmark in 1863, Christian (who was both Frederick's uncle and cousin) acceded to the throne as the first Danish monarch of the House of Glücksburg.

The beginning of his reign was marked by the Danish defeat in the Second Schleswig War and the subsequent loss of the duchies of Schleswig, Holstein and Lauenburg which made the king immensely unpopular. The following years of his reign were dominated by political disputes as Denmark had only become a constitutional monarchy in 1849 and the balance of power between the sovereign and parliament was still in dispute. In spite of his initial unpopularity and the many years of political strife, where the king was in conflict with large parts of the population, his popularity recovered towards the end of his reign, and he became a national icon due to the length of his reign and the high standards of personal morality with which he was identified.

Christian married his second cousin, Princess Louise of Hesse-Kassel, in 1842. Their six children married into other royal families across Europe, earning him the sobriquet "the father-in-law of Europe". Among his descendants are Margrethe II of Denmark, Elizabeth II of the United Kingdom, Philippe of Belgium, Harald V of Norway, Felipe VI of Spain, Grand Duke Henri of Luxembourg, Constantine II of Greece, Queen Anne-Marie of Greece, Queen Sofia of Spain and Prince Philip, Duke of Edinburgh.

crown crown

On August 3, 2019, my wife and I again visited the Danish capital. This time, the Royal Treasury in Rosenborg Castle and the Museum (ibid.). I put the photo from there on the topic of banknotes.

Above the portrait of Christian IX - the crown of Christian V (from a banknote).

In my photo there are two crowns. The right one is the crown of Christian V (from a banknote).

She is a symbol of the absolute monarchy, she was crowned all the kings until 1840, when the absolute monarchy was abolished. However, this crown is still used in funeral rites after the death of the monarch. The last time this happened in 1972, after the death of King Frederick IX, the father of the current queen.


The crown was executed by goldsmiths by Paul Kurtz in 1670-71. The weight of the crown is slightly more than 2 kg. The crown is decorated with two grants and two sapphires. The largest sapphire probably belonged to Frederick I, it was presented to his father by the Duke of Milan in 1474. As a basis, the jeweler took the crown of Louis XIV, but replaced the images of lilies with leaves. ( .rus).


5 Kronur 1919. Banknote issued by a branch of a bank in the Vestmannaeyjar Islands

coat of arms

On left side is the White Icelandic Gyrfalcon (Falco islandicus) as the coat of arms.

By the decree of the King of Denmark of October 3, 1903, it was prescribed that the White Icelandic Gyrfalcon on a blue field was to be the coat of arms of Iceland. Many Icelanders have seen in this strong, hardy and noble bird a more suitable symbol for their country than cod. For centuries, Iceland has been known in the Scandinavian world for its poets and falcons. Even when the aristocracy in the neighboring countries ceased to understand and appreciate the Icelandic poets, the falcon continued to be considered a valuable gift for several more centuries. Falconry was the favorite amusement of the European and Asian aristocracies and has been known since ancient times. In the Scandinavian countries, this type of hunting has been known since pagan times, and distant Iceland was considered the birthplace of the best falcons.

In 1920, a special Royal flag of Iceland was adopted, which also depicted the Icelandic gyrfalcon. The king of Denmark used this flag during his visit to Iceland in 1921. At the same time, the Order of the Icelandic Falcon was established, which has since been the highest state award of Iceland.

The coat of arms existed until February 12, 1919.

coat of arms

The White Icelandic Gyrfalcon (Falco islandicus) - this is a large falcon, with a wingspan of 120 to 135 cm., the bird's body length is from 55 to 60 cm. Males weigh about 1 kg, while females exceed their size and reach 1.5-2 kg. in weight. The body of the bird is massive, the wings are sharp, long, the tail is also long.

The plumage of the gyrfalcons of the northern range is light, on the back from brownish-gray to almost white; tummy whitish with a dark pattern. Near the mouth is a dark stripe in the form of "whiskers". A falcon prong is visible on the upper mandible. Legs yellow. The southern subspecies is colored in darker, saturated brown tones.

The gyrfalcon flies very quickly, it does not soar in the air, and after a few strokes of its wings, it swiftly starts ahead. Sits gyrfalcon straight. ( .rus)


Engraver: "L. Levison Junior".

From Copenhagens city archive:

L. Levison Junr.

Private business / association

From To Official Names

Existed from 1850 till 1980.

11.6.1850 Lion Levison set up a retail of paper in Pilestræde 96 under the name L. Levison. When a paper shop with the same name already existed at the address, he soon after changed his name to L. Levison Junr.

Initially, the company sold Drewsen's papers and all kinds of commodities belonging to a paper shop wholesale and retail, but the company then developed into a company with its own printing, drawing room, liner, bookbinding, box factory and steel printing.

The company had Heimdal as a trademark and published the magazine Heimdal Posten, which was first published in May 1934.

The company merged in 1980 with Dansk Papir-Industri A/S under the name Meydan A/S.

Owners and Directors:

1850 Lion Levison founded the company

1881 Sons Isidor Levison and Adolf Levison joined the firm.

1884 Lion Levison resigned from the firm.

1893 Adolf became the sole proponent because of. Isidor's death

1916 The company was transformed into a limited company with Adolf as director

1918 Valdemar Mygind took over as CEO. He was a director for 27 years.

There were then changing directors.


1850-1852 Pilestreede 96

1852-1858 Pilestree 87

1858-1859 Kongens Nytorv 5

1859-1877 Gothersgade 34

1877-1886 Shopping Street 9

1886-1967 Koopmagergade 50

1963 Production moved to a newly erected building in Bagswaard

1967 Administration moved to Vestager 26-30 in Glostrup. The property Buymagergade 50 was sold to the University of Copenhagen. (Københavns Stadsarkiv .dan).

Translation of an article from the Icelandic newspaper, issued in 2002, on the 100th anniversary of the Bank of Iceland:

""Because we need money ..."

One hundred years ago, June 7, 1904, just over four months after the Icelanders were given home control, the first public limited company in Iceland was established - Íslandsbanki. Eggert Þór Bernhardsson son crept into the big story.

Early in 1899, Páll Torfason, a trader in Flateyri, came with the message from Copenhagen that some wealthy people in Denmark were interested in raising capital in a new bank in Iceland. The only banking institution in the country at that time was Landsbanki Íslands, in addition to which several savings banks worked. In the spring, the elderly MP, Benedikt Sveinsson, sailed to Hafnar to investigate the matter further and discuss with Alexander Warburg, the merchant and Ludvig Arntzen, the Supreme Court lawyer who was behind the bid. Benedikt clearly liked the idea because when Parliament convened that summer, he proposed a bill "authorizing the establishment of a corporation bank in Iceland". Benedict, however, died before its fate became apparent.

The bill included assumed that the bank would receive exclusive rights to a gold-denominated banknote in Iceland, but also that Landsbanki Íslands would be discontinued and its assets and liabilities taken over by the new bank. Many thought this was a tough choice. In fact, Benedikt Sveinsson has come to the attention of his own, as he was one of Iceland's leading leaders in the freedom struggle with Dani after Jón Sigurdsson's resignation. Guðjón Friðriksson, a historian, has argued that Benedict's son, Einar Benediktsson, a poet and entrepreneur, had a great influence there. Einar was constantly looking for new opportunities, but at that time they were also looking for solutions to their financial problems and there was considerable movement in their money and assets. A new bank has therefore been welcomed by Einar, but he was also of the opinion that money laundering was the main focus of Icelandic progress on cleaning. He wrote e.g. Article in his journal Schedule February 1, 1899 where he said that Icelanders would "get foreign thinking, foreign money, foreign enterprise into the country ..."

Hart was debated about the banking situation in parliament and the positions of politicians differed greatly depending on where they stood in politics. Most voters were recommended to the new "share bank", as he was called, but the home government turned many against him. Valtytingar had a majority in Althingi and it was agreed to receive the opinion of the Icelandic Ministry in Copenhagen on the bill. In the Danish Opinion, a number of amendments were presented, most of which are aimed at reducing the Bank's planned operations. Supporters of the "partial bank" wanted a lot to work for the bank to be established and therefore presented a new bill in parliament in 1901, taking into account the comments made.

In sharp discussions of banking, many heavy words fell. Thus, e.g. Home Minister Jónas Jónassen warrants Warburg and Arntzen to pursue this issue so vigorously only to see a game on the table to be able to earn enough money for the Icelanders, to think otherwise would be a simple distance. The Ottomans intended "to make the most of Iceland's wealthiest of the best possible and to use Iceland's basic basic skills to make such a Danish flight." However, the Valtýing commander, Valtýr Guðmundsson, thought it was a long way to prove that Icelanders were missing money and asked: "Is it not true that everything is wrong with us and the loss of money because we lack money? Has not been shown that employment and trade could flourish here if we did not need money? Why not take them when they get - we can hardly hope that they will rain over us from the clouds and that we get them for nothing at all. " Litigation was that 23 out of 36 MPs approved the bill. At the last minute, however, it was decided that Landsbanki Íslands continued operating, which greatly reduced the fears of those who had doubts about the right to allow the bank's establishment. The Act was then ratified by the King on June 7, 1902.

The new bank's share capital was at least ISK 2 million, which was a great deal of money. Although there was interest in the bank, it was difficult to raise capital. For the first half of the year Icelanders had priority rights to share purchases, but there was little funding available domestically. Only Icelanders raised 55 thousand ISK during these six months. At the same time, the Treasury did not make use of the legal authority to buy 2/5 shares, as its interest had diminished after it became clear that Landsbankinn was operating and therefore not as important to secure Icelanders as the most influence on the new bank's management. In addition, loans had to be borrowed for treasury stock purchases and it is uncertain whether this was obtained on acceptable terms. If the bank was to be established within the required time frame, ie. before October 1, 1903, had to rely largely on equity accumulation abroad. In the end, however, a limited company was formed about the bank because Privatbanken in Copenhagen, Centralbanken in Oslo and the financial company Rubin & Bing in Copenhagen submitted the share capital needed to comply with the law.

The first meeting of the Board of Directors of Íslandsbanki was held on March 22, 1904. The first Board of Directors was chaired by the new Minister of Iceland, Hannes Hafstein, three members of Parliament and three representatives of shareholders. Under the 1902 Act, the odd member of the Supervisory Board was supposed to be the Danish Minister of Iceland, who obviously was Danish, but with the Home Government replaced the national minister. In doing so, representatives of the Althingi and the Icelandic government had a majority in the Council, which was the supreme board of the bank outside shareholders' meetings. Fears that the Bank's operations would greatly increase the influence of foreign parties on the Icelandic economy proved to be small.

Three CEOs of Íslandsbanki were appointed. A young Danish banker, Emil Schou by name, was hired as chief banker, before working for Rubin and Bing. The Icelandic governors were the official Páll Briem and Sighvatur Bjarnason who had been a cashier at Landsbanki. The former was Valtýingur, but the latter was the home governor. Paul died a few weeks after the bank took office and after that the two governors until Hannes Hafstein sat in the governorship after the ministerial court in 1909. Until 1923 one of Íslandsbanki's governors was always Danish, after which all the governors were Icelandic.

Just two years after the confirmation of the Banking Act, on June 7, 1904, Íslandsbanki was first opened to the public for the first time in Ingólfshvoli in Hafnarstræti in Reykjavik. However, the headquarters were for a long time in the bank's elegant house at Lækjartorg, but moved there in the spring of 1906. In the beginning, there were only seven employees. On September 1, 1904, three branches were opened - in Akureyri, Ísafjörður and Seyðisfjörður. In total, the Bank's employees were fourteen, and the number of employees increased in the coming years.

The operation of the branches was one of the prerequisites for Íslandsbanki to obtain an operating license, because it was emphasized that he did not serve the Reykviks alone but benefited most people and became a lever for the settlements. Finally, it turned out that a powerful motorboat business was established in shopping places with a bank branch and its branches participated in it. In growing urban areas, credit was also needed for housing, commerce and industry, and it was important to have access to a credit institution such as Íslandsbanki. In the autumn of 1919 the Íslandsbanki branch in the Westman Islands was opened at the request of the Eyjamanna.

According to the law, the purpose of Íslandsbanki was to strengthen and facilitate Iceland's progress in commerce, fishing, agriculture and industry and to improve the country's monetary wealth in general. The share capital was raised to three million in 1907 but for such money it could have been bought for thirty dozen trawlers. The Bank specifically focused on loans for fisheries and trade, but also for industrial and residential buildings. He also played a major role in the transfer of money into the country and modern business practices in Iceland. Íslandsbanki was first and foremost a commercial and central bank and the large foreign venture capital that entered the country with the bank contributed to the industrial revolution that occurred in Iceland in the first decades of the XX century. ( .icelan)