1 Króna Skillemønt type III; blue colour

Iceland's wartime occupation by British forces in May 1940 severed routine contact with Denmark and created immediate pressure on the domestic money supply. The Ríkissjóður responded by printing small denomination notes locally at Gutenberg Trykkeri rather than waiting on foreign printers — a practical decision that distinguishes this series from the pre-war Icelandic issues produced abroad. Gutenberg was a commercial press, not a security printer, and the notes reflect that origin in their relatively modest production values.

Jakob Möller's signature as Finance Minister places the earliest examples firmly in the wartime administrative period. The type III designation differentiates this from earlier colour variants within the same basic design lineage.