© aauctions.is
© aauctions.is
50 Aurar P. J. Thorsteinsson and Co. ND
1897 year| Brass | 4.65 g | 27.00 mm |
| Location | Iceland |
|---|---|
| Issuing entity | P. J. Thorsteinsson |
| Type | Trade tokens › Business tokens |
| Year | 1897 |
| Value | 50 Aurar (0.50 DKK) |
| Currency | Krone (1874-1918) |
| Composition | Brass |
| Weight | 4.65 g |
| Diameter | 27.00 mm |
| Shape | Round |
| Technique | Milled |
| Demonetized | Yes |
| Updated | 2024-11-13 |
| Numista | N#79641 |
|---|---|
| Rarity index | 97% |
Reverse
Face value.
Script: Latin
Lettering: 50
Edge
Plain
Comment
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.P. J. Thorsteinsson Co. was a rich merchant company from 1879-1914 based in Bíldudalur. The comany was named after it's founder Pétur J. Thorsteinsson (1854-1929). His company made a lot of money (19345kr in 1913) from selling supplies to Icelanders. P. J. Thorleiksson Co. was purchased on the 1. february 1914 by Milljónarfélagið for 525.467kr, however, Pétur was a key figure in this company aswell.
