500 Aurar P. J. Thorsteinsson and Co. ND

Reverse

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

Script: Latin

Lettering: GEGN VÖRUM

Translation: Against goods

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.