First put into circulation in 1981. In October 2005, the Central Bank of Iceland put an upgraded design of the 500 kr. note into circulation.
Size: 70 x 145 mm. Predominant colour: red on multicoloured underprint.
Obverse: Jón Sigurdsson, (1811-1879), leader of Iceland's movement for independence. The border is modelled on the 500 kr. Landsbanki Íslands banknote of 1944 and the main pattern from a tapestry owned by Jón Sigurdsson. Reverse: Jón Sigurdsson at his writing desk, with tapestry and other articles from the National Museum's collection of his belongings; on the right side is Reykjavík Grammar School, where parliament met in Jón Sigurdsson's day.
Blind recognition feature: a single vertical intaglio-printed line on the obverse.
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Security features
Micro-engraved lettering tint (melt)
The number 500 is printed horizontally with red shadowing at the top left of the obverse and at the top right on the reverse. When magnified, the shadowing of the numbers forms a continuous pattern of the abbreviation SÍ.
Blind recognition feature
One vertical line is intaglio-printed on the obverse to assist the visually handicapped in recognising this note.
Blink
A fluorescent green print enclosing the number 500 is visible towards the top of the middle when the note is exposed to ultraviolet light.
Microtext
Microtext on the lectern on the obverse, when magnified, forms a continuous line with the words SEÐLABANKI ÍSLANDS.
Extra small print
On the right half of the obverse, by the upper and lower margins, is extra small print forming a continuous line with the words SEÐLABANKI ÍSLANDS.
Intaglio printing
On both sides of the note there is intaglio printing which can be detected by touch.
Type of paper
The paper is made of raw cotton with a different feel from that of normal paper.
Cornerstone
A reinforced cornerstone watermark enhances the note’s durability and security.
Security thread
The note has a multicoloured metallic thread embedded in the paper, 1.2 mm wide and windowed on the obverse. When held up to the light it appears as a continuous line. The cleartext inscription reads 500KR.
Watermark
The watermark is a portrait of Jón Sigurðsson, leader of Iceland’s independence movement. It is clearly visible on both sides of the note when held up to the light.
Red serial number on the obverse
The unique serial number of the note is printed in red on the obverse, but appears yellow under ultraviolet light.