▁to ▁have ▁its ▁own ▁currency ▁and ▁mon et ary ▁policy . ▁ ▁Name ▁ ▁Like ▁the ▁Nord ic ▁curr encies ▁( such ▁as ▁the ▁Dan ish ▁kr one , ▁Swedish ▁k ron a ▁and ▁Norwegian ▁kr one ) ▁that ▁participated ▁in ▁the ▁historical ▁Sc and in av ian ▁Mon et ary ▁Union , ▁the ▁name ▁kr ón a ▁( mean ing ▁crown ) ▁comes ▁from ▁the ▁Latin ▁word ▁cor ona ▁(" c rown "). ▁ ▁The ▁name ▁" I cel and ic ▁crown " ▁is ▁sometimes ▁used , ▁for ▁example ▁in ▁the ▁financial ▁mark ets . ▁ ▁First ▁k ron a , ▁ 1 8 7 4 – 1 9 8 1 ▁The ▁Dan ish ▁kr one ▁was ▁introduced ▁to ▁I cel and ▁in ▁ 1 8 7 4 , ▁replacing ▁the ▁earlier ▁Dan ish ▁currency , ▁the ▁rig sd aler . ▁In ▁ 1 8 8 5 , ▁I cel and ▁began ▁issu ing ▁its ▁own ▁bank notes . ▁ ▁The ▁I cel and ic ▁k ron a ▁separated ▁from ▁the ▁Dan ish ▁kr one ▁after ▁the ▁dissol ution ▁of ▁the ▁Sc and in av ian ▁Mon et ary ▁Union ▁at ▁the ▁start ▁of ▁World ▁War ▁I ▁and ▁I cel and ic ▁so vere ig nt y ▁from ▁Den mark ▁in ▁ 1 9 1 8 . ▁The ▁first ▁co ins ▁were ▁issued ▁in ▁ 1 9 2 2 . ▁ ▁I cel and ▁was ▁forced ▁to ▁de value ▁the ▁I cel and ic ▁k ron a ▁in ▁ 1 9 2