 C.F. Siemsen. Reykjavik. 4 Skilling i Ware Token (1846). Brass. Sieg 6, KM Tn8. Rare. This token was also valid at Siemsen's store in the Faeroe Islands. Very Fine. (Est. $125-$175)
Although monetary convention allowed the usage of Danish, Norwegian and Swedish coins in Iceland, few coins found their way there. Icelandic merchants were thus forced to issue their own private money. Token issues began in the mid-19th Century. Some merchants, though, posted inflated token prices alongside legal coins. As a result, the production and usage of tokens in Iceland was prohibited in 1901.
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