Árbók Hins íslenzka fornleifafélags - 01.01.1962, Qupperneq 122

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ÁRBÓK FORNLEIFAFÉLAGSINS
SUMMARY
The Althing Coins of Iceland.
A committee formed by the Icelandic Parliament (the Althing) and
charged with the task of preparing the 1000 years’ anniversary of the
Althing in 1930 recommended among other things that a series of com-
memorative coins should be issued in celebration of the event (The Ice-
landic term „minnispeningur" is correctly translated „commemorative coin“,
even though these „minnispeningar“ should be classified as „medals“ and
not as ,,coins“). A law passed by the Althing on May 4th and signed by the
King on June 14th 1929 authorized the government to liave such coins
minted. It also provided that by a royal resolution these commemorative
coins could be given validity as legal tender, the value being 10 krónur,
5 krónur and 2 krónur respectively.
The Althing coins were minted by the Síichsische Staatsmiinze in Dresden,
10.000 silver coins at the value of 10 krónur, 10.000 at the value of 5 krónur
and 20.000 bronze coins at the value of 2 krónur. The coins could be bought
in a case either each one separately or all three together.
By issuing these coins the Althing celebration committee wanted to give
visitors and others an opportunity to buy tasteful souvenirs but they also
hoped for some profit from the sale of the coins. On the other hand they
anticipated the possibility of a small sale; hence the provision of the law
stating that the coins could be turned into legal tender by royal resolu-
tion. But it did not prove necessary to resort to this and the provision was
never carried into effect. The coins were sold at the Althing celebration,
in post-offices and to some extent abroad, but they sold slowly and could
be bought at nominal value (10, 5 and 2 krónur) for several years after-
wards. As they never became legal tender they should, as stated above, be
classified as medals, not as coins, though the price, 10, 5 and 2 krónur, is
engraved on the edge.
Description of the Althing coins.
1. Commemorative coin of silver, price 10 krónur.
Obverse: „The King of Thule" by the sculptor Einar Jónsson, the initials
of the artist E. J. — The scene seems to be intended to symbolize the
North.
Reverse: The design is based on the coat-of-arms of the kingdom of Ice-
land. On either side of the shield the four legendary guardian spirits of
the country, known from Snorri, at the top a crown, a Viking ship below;
— B. B., the initials of the artist, Baldvin Björnsson.
On the edge: 10 KRÓNUR.
Weight 35 gr, diameter 45 mm.