1 kroon coin (1934) 1 kroon coin (1934) The 1 kroon coin was put in circulation from 1 August 1934 to 25 March 1941, during the first independence period of Estonia. The exact number of coins minted is not known, as part of the archives was destroyed in the war, but some data indicate that about 3,406,066 pieces were struck. Between 1935 and 1936, 1,586,000 1 kroon coins were minted. Designed by graphic artist Günther Reindorff, it depicts the image of a 13th-century Viking cargo ship. With the Estonian monetary reform in January 1928 the law was changed as the Riigikogu had an amendment
European Monetary System makers at least since the Second World War. Two primary factors account for this: The European Monetary System was no longer a functional arrangement in May 1998 as the member countries fixed their mutual exchange rates when participating in the euro. Its successor however, the ERM-II, was launched on 1 January 1999. In ERM-II the ECU basket was discarded and the new single currency euro has become an anchor for the other currencies participating in the ERM-II. Participation in the ERM-II is voluntary and the fluctuation bands remain the same as in the original ERM, i.e. +15 percent, once again