100 Krooni

Estonia's second-period independence coinage in paper: the 1999 100 Krooni was produced by Bundesdruckerei in Berlin, a long-standing choice for Estonian banknote contracts since the krooni's reintroduction in 1992. The krooni itself was pegged to the Deutsche Mark at 8:1 — a fixed rate Estonia held with unusual discipline until euro adoption in 2011, meaning this note circulated within a currency board arrangement that left the central bank virtually no monetary policy discretion.

Pick 82 is the final major redesign of the 100 Krooni before the series was retired. Security provision is modest by later standards — watermark and thread only, no optically variable ink.