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The kroon became the currency of Estonia on 1 January 1928 after having been a unit of account since 1924. It replaced the mark at a rate of 100 mark = 1 kroon. The kroon was subdivided into 100 senti. In 1924, the kroon was pegged to the Swedish krona at par, with a gold standard of 2480 kroon = 1 kilogram of pure gold. The standard received real coverage with the reserves backing the kroon.
Three lions within shield divide date.
Encircling the numeral is the full title of the Republic of Estonia (EESTI VABARIIK) and the coin's denomination.