The Museum remained an independent institution from its inception in 1884 until 1916 when Alþingi – the Icelandic Parliament – decided to make it a department in the National Heritage Museum (Þjóðminjasafn Íslands).
Museet forblev en uafhængig institution fra sin indvielse i 1884 til 1916, da Altinget – Islands Parlament – besluttede at omdanne det til en afdeling under Islands Nationalmuseum (Þjóðminjasafn Íslands).