500 Aurar P. J. Thorsteinsson & Co.

500 Aurar (P. J. Thorsteinsson & Co.) - obverse500 Aurar (P. J. Thorsteinsson & Co.) - reverse

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Features

Issuer Iceland
Ruling authority P. J. Thorsteinsson (1880-1901)
Type Token
Year 1901
Value 500 Aurar (5 DKK)
Currency Krone (1874-1918)
Composition Aluminium
Weight 1.10 g
Diameter 24 mm
Shape Round
Technique Milled
Demonetized 1901
Number N# 79605
Numista type number (https://en.numista.com/help/what-is-the-n-number-visible-in-the-catalogue-33.html)
References KM# Tn22
Tracy L. Schmidt (editor); 2019. Standard Catalog of World Coins / 2001-Date (14th edition). Krause Publications, Stevens Point, Wisconsin, United States.
And 5 more volumes.

Obverse

Face value at the center, surrounded by the merchant name.

Script: Latin

Lettering:
P. J. THORSTEINSSON & Co * * *
500

Reverse

Inscriptions and symbols at the center, surrounded by vegetable wreath knotted by bottom.

Script: Latin

Lettering: GEGN VÖRUM

Translation: Against goods

Comments

Under the Scandinavian Monetary Convention of 1873, the currencies of Denmark, Norway and Sweden could move to Iceland. But very few of these coins have actually made the way to the island, which missed of liquidity. Consequently, the Icelandic merchants made strike tokens to fill this gap. A law of 1901 banned them, the traders while profiting to increase the prices.

See also

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Date VG F VF XF AU UNC
ND (1901) 

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