The Arctic
Banknotes and coins from the Arctic: Greenland notes from 1803 to 1953, the Greenland coins of 1926, a wartime specimen and Icelandic notes from 1928 to 2001. Every item is examined, described and guaranteed genuine by Denarius.
About The Arctic
Money from Greenland and Iceland
The Arctic category brings together money from two North Atlantic societies with close ties to Denmark and Norway. Greenland and Iceland were both part of the Danish realm, and for long periods they used Danish money or money issued under Danish authority. Yet both developed their own banknotes and coins, and these are among the most sought-after objects in Nordic numismatics. The category is divided into Greenland and Iceland.
Greenland: notes for the trading posts
Trade in Greenland was for a long time a Danish state monopoly run by the Royal Greenland Trade Department (Den Kongelige Grønlandske Handel, KGH). Money in the colony was closely tied to this trade, and many Greenland notes state that they are valid at the trading posts. The first printed notes appeared in 1803, and the category includes a 12 skilling of 1803 made for the colony of Julianehaab (today Qaqortoq) and a 6 skilling of 1804 in exceptional condition. Both are rare survivors of the earliest paper money in Greenland.
From the 1870s notes were denominated in øre and kroner. Here you will find a 25 øre of 1875, a 25 øre of 1905 and a 50 øre of 1911, two of them remainders, meaning notes that were printed but never issued. A 10 kroner specimen of 1953 represents the post-war notes, when KGH resumed note issue.
Greenland coins and wartime money
Greenland’s first coins were issued in 1926: a 25 øre in cupronickel and a 50 øre in aluminium-bronze, matching the corresponding Danish coins in size. The category has examples of both, including a 25 øre graded MS 66 by NGC.
During the Second World War, Greenland was cut off from occupied Denmark, and the local administration issued its own money. Among these issues were small notes in skilling for use by American military personnel stationed there. The 20 skilling specimen of 1942 in this category belongs to that series and is a scarce reminder of Greenland’s role in the war.
Iceland: from Landsbanki to the Central Bank
Iceland used the Danish krone from 1874 and began issuing its own notes in 1885. After the country gained sovereignty in 1918, the Icelandic króna developed separately from the Danish krone. The category includes a 10 krónur specimen of 1928, the year Landsbanki Íslands took over the issue of the larger notes, and notes of 100 and 1000 krónur issued under the Central Bank laws of 1961 and 2001.
What do collectors look for in Arctic money?
Most Greenland notes were printed in small numbers and used hard, so notes in good condition are scarce. Specimens and remainders, which never circulated, are often the best way to own a type in high grade. For older notes, collectors look at paper quality, signatures, serial numbers and any repairs, all of which are stated in the descriptions. Many types are catalogued in the Standard Catalog of World Paper Money (Pick numbers) and in Scandinavian specialist catalogues. For other notes, see Banknotes.
Frequently asked questions
Did Greenland have its own money?
Yes. Greenland had its own banknotes from 1803, issued under Danish authority and tied to the state trading monopoly, and its own coins from 1926. Today the Danish krone is used in Greenland.
What is a specimen banknote?
A specimen is a sample note made to show banks and authorities what a new note looks like. It is usually marked or perforated SPECIMEN and never circulated, so specimens are often found in very fine condition.
What is a remainder?
A remainder is a note that was printed but never issued, often without a signature or serial number. Remainders let collectors acquire scarce types in good condition.
Are the items genuine?
Yes. Every item is researched and described as accurately as possible, and Denarius guarantees that everything sold is genuine and as described.
What is the protocol number?
Every item gets its own number when it is catalogued. The number is shown on the product page, so you always know exactly which example it is.
Do you ship internationally?
Yes. We ship worldwide. Shipping method and price are shown at checkout before you pay.