The Cove of the Iceland spar is situated under the sheer cliffs of Mt Tindastoll north of the farm Reykir (north of the town Saudarkrokur).  It has been known for centuries for its Iceland spar, which is created in cavities of the tertiary basaltic strata of geothermal areas all over the country.

The brakers and other erosive forces loosen those crystals and then the sea polishes them.  The collection of half precious stones in the cove is forbidden unless a special permission is granted.  According to the legends the cliffs are the abode of an elf princess.