The second Estonian kroon currency was introduced in 1992, after Estonia gained independence from the USSR. The kroon was subdivided into 100 cents (senti; singular sent). The one kroon coin was a popular circulating denomination; there was also a banknote with the same value, but the banknote was only issued in 1992 and was rarely used, as opposed to the coin.
Coins of this first type of 1 kroon were made of copper-nickel; however, due to their similarity to the German one mark, it was decided to replace them with a Nordic gold type.
Coins issued in 1993 circulated for only five years and were demonetised on 1 June 1998.
||Mint Mark||No mint mark
||Total Mintage||10,260,000 (10.3 million), Rarity: C (Common)
The obverse depicts the Coat of Arms of Estonia, consisting of three lions passant gardant (walking to left, facing the observer) on a shield. The date 1993 is divided by the shield.
There is a tiny inverted letter M above the right (upper) front paw of the lower lion.
At centre, the numeral value 1, below that the denomination KROON. Around above, · EESTI VABARIIK · (Republic of Estonia).
There is controversy about the tiny letter M on the obverse. It is not a mint mark; it was originally present on coins minted by Juveel, but Juveel never had a mint mark for coins (it has markings on its other production); also, the letter is present on coins made later at other mints. The general opinion seems to be that the letter M is a privy mark of Rein Mikli, who was director of Juveel at the time the original dies were made.