It occured to me that not every coin made is still available due to loss, damage, day to day commerce, change jars, pocket change, purses, sitting in a tray in the car, banks and cash drawers, not to mention coins held by coin collectors inside Iceland.

Via Yahoo, I sent the following message to 2,770 people who live in Iceland:

"Dear Mam/Sir, I am a collector of Icelandic coins, who lives in the United States, I am conducting this survey to get a picture on the availability of Icelands coinage of 1922 to 2001. You will in no way be contacted in the future for participating in this survey, nor shall I make any offer, nor accept any offer to buy/sell/trade coins from Iceland or any other nation.
I ask you to check your house hold, and tell me how many coins (only Iceland) you have available to you at this moment, please include, pocket change, change jars, purses, car trays, etc. If you are a coin collector, do not include your collection, if you are a buisness owner, do not include your till or safe change. If you are also a collector of Icelands coinage, please let me know, as I may have a second set of questions. Thank you for your participation."

744 responded, they claimed to have in thier posession 188,884 coins, so if you allow for thier being 282,370 people(2003 estimate) people in Iceland, the public holds 71,687,134 coins.

34 of those who responded also called themselves Icelandic Coin Collectors, and they claimed to hold 3,030 coins of the Kingdom(1922-1942), 17,556 coins of The Republic(1946-1980), and 2,117 coins of the Nation Of Iceland(1981-2001), for a total of 22,703 coins, it is estimated that there are 3,000 who collect coins, so the collectors appear to hold another 2,003,206 coins. So, based on this somewhat in accurate survey, which of course still does not include cash drawers, bank vaults, coin dealers, lost and destroyed coin, the people of Iceland hold 73,690,340 coins, that leaves 402,666,960items MAXIMUM for the other 59,997,000 coin collectors of the world, or less than 7 coins per collector.

In short, the coins of Iceland are a bit more rare than you may have originally thought, and believe me when I tell you, I have a lot more than 7 coins from Iceland.