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The currency of the island state of Iceland is the Icelandic krona. Currently, there is no official currency unit in Iceland. Minting of coins in kroons began in 1925. Initially, all coins featured the monogram of King Christian X. In 1944, Iceland was proclaimed a republic, and in 1946, minting of coins without royal symbols began. On January 1, 1981, the Icelandic krona was denominated 100 to 1 and new coins were issued. Coins of the 1981 sample in eyre were made of brass, in crowns - from a copper-nickel alloy. Icelandic coins have been minted by the Royal Danish Mint, the Royal Mint of Great Britain and the private mint in Birmingham.