100 Kroner Heilmann type III

The Heilmann 100 Kroner series was issued across three type variants, this being the last — a design that ran directly through the German occupation of Denmark, which began in April 1940. The proliferation of signature combinations across 1940–1943 reflects genuine administrative turnover at the Nationalbank during a period when institutional continuity under occupation was neither automatic nor comfortable.

Gerhard Heilmann, better known internationally as an ornithologist and the author of the influential 1926 work on the origin of birds, produced these banknote designs as part of a broader commission from the Nationalbank. A scientist moonlighting as a currency artist — an unusual combination that Danish collectors tend to undervalue.