Definitions

Austrian schilling

Austrian schilling

The Schilling was the currency of Austria between 1924 and 1938 and again between 1945 and 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 Schilling to replace it. The Schilling was divided into 100 Groschen.

History

First Schilling

The Schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 Schilling to 10,000 Austro-Hungarian Kronen and issued on 1 March, 1925. The Schilling was abolished in the wake of the Anschluss (1938), when it was exchanged at a rate of 1 German Reichsmark to 1.5 Schilling.

Second Schilling

The Schilling was reintroduced after World War II on November 30, 1945 by the Allied Military, who issued paper money (dated 1944) in denominations of 50 Groschen up to 100 Schilling. The exchange rate to the Reichsmark was 1:1, limited to 150 Schilling per person. The Nationalbank also began issuing Schilling notes in 1945 and the first coins were issued in 1946.

With a second "Schilling" law in November 1947, new banknotes were introduced. The earlier notes could be exchanged for new notes at par for the first 150 Schilling and at a rate of 1 new Schilling for 3 old Schilling thereafter. Coins were not affected by this reform. The currency stabilised in the 1950s, with the Schilling being tied to the U.S. dollar at a rate of $1 = 26 Schilling. Following the breakdown of the Bretton Woods system in 1971, the Schilling was initially tied to a basket of currencies and then, in July 1976, the Schilling was coupled to the Deutsche Mark.

Although the euro became the official currency of Austria in 1999, euro coins and notes were not introduced until 2002. Old Schilling denominated coins and notes were phased out from circulation because of the introduction of the euro by 28 February of that year. Schilling banknotes and coins which were valid at the time of the introduction of the euro will remain exchangeable for euros at any branch of the Austrian National Bank (Oesterreichische Nationalbank) indefinitely.

Coins

First Schilling

In 1925, bronze 1 and 2 Groschen, cupro-nickel 10 Groschen and silver ½ and 1 Schilling coins were introduced, followed by cupro-nickel 5 Groschen in 1931. In 1934, cupro-nickel 50 Groschen and 1 Schilling were introduced, together with silver 5 Schilling. Coins were issued until 1938.

Second Schilling

Between 1947 and 1952, coins in denominations of 1, 2, 5, 10, 20 and 50 Groschen, 1, 2 and 5 Schilling were introduced. The 1, 2 and 50 Groschen, 1, 2 and 5 Schilling were struck in aluminium, as was the second type of 10 Groschen coin. The 5 Groschen and first type of 10 Groschen were in zinc, with the 20 Groschen struck in aluminium-bronze. The 1 Groschen was only struck in 1947, whilst the 20 Groschen and 2 Schilling coins were suspended from production in 1954 and 1952, respectively. In 1957, silver 10 Schilling coins were introduced, followed, in 1959, by aluminium-bronze 50 Groschen and 1 Schilling, and, in 1960, by silver 5 Schilling coins. Thus, the 5 Schilling coins went from an aluminium composition to a silver one, a highly unusual event made possible by the substantial improvement of the Austrian economy in the 1950s. Cupro-nickel replaced silver in the 5 and 10 Schilling coins in 1969 and 1974, respectively. An aluminium-bronze 20 Schilling coin was introduced in 1980.

At the time of the changeover to the euro, coins in circulation were the following. Coins under 10 Groschen were rarely seen in circulation during the final years of validity.

Last Circulating Coins
Image Value € equiv. Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse first minting issue
1 Groschen 0.07 cent 17 mm 1.8 g 100% zinc Smooth State title, coat of arms Value, year of minting 1947 5 April 1948
2 Groschen 0.15 cent 18 mm 0.9 g 98.5% aluminium
1.5% magnesium
Coat of arms State title, value, year of minting 1950 15 July 1950
5 Groschen 0.36 cent 19 mm 2.5 g 100% zinc Notched State title, coat of arms Value, year of minting 1948 17 June 1948
10 Groschen 0.73 cent 20 mm 1.1 g 98.5% aluminium
1.5% magnesium
Smooth Coat of arms Value, year of minting 1951 27 November 1951
50 Groschen 3.63 cent 19.5 mm 3 g 91.5% copper
8.5% aluminium
Serrated Shield, state title Value, year of minting 1959 1 October 1959
S 1 7.27 cent 22.5 mm 4.2 g Smooth State title, value, year of minting Edelweiss flowers, value 1959 1 September 1959
S 5 36.34 cent 23.5 mm 4.8 g Cupronickel1
75% copper
25% nickel
Smooth State title, horse rider Shield, value, year of minting 1968 15 January 1969
S 10 72.67 cent 26 mm 6.2 g Serrated State title, coat of arms Woman, value, year of minting 1974 17 April 1974
S 20 1.45 27.7 mm 8 g Aluminium bronze
92% copper
6% aluminium
2% nickel
Smoothly with 19 points/Smooth 2 State title, the nine Austrian provinces Value, year of minting 1980 10 December 1980
S 20 State title, value, shield, year of minting Various commemorative subject 1982

S 50 3.63 26.5 mm
Core: 18.5 mm
8.15 g Ring: Aluminium bronze (as S 20)
Center: Magnimat 7
Smooth State title, value encircled by the coats-of-arms of the states of Austria Various commemorative subject 1996

  1. 10 Schilling has pure nickel core
  2. Smoothly with 19 points until 1992. In 1993, all previous 20 Schilling coins were reissued with smooth edges.

Banknotes

First Schilling

In 1925, notes were introduced by the Austrian National Bank in denominations of 5, 10, 20, 100 and 1000 Schillinge (note the different spelling of the plural on this first series of notes). 50 Schilling notes were added in 1929.

Second Schilling

In 1945, the Allies introduced notes (dated 1944) in denominations of 50 Groschen, 1, 2, 5, 10, 20, 25, 50, 100 and 1000 Schilling. The National Bank also introduced notes in 1945, in denominations of 5, 10, 20, 50, 100 and 1000 Schilling. With the banknote reform of 1947, new notes were issued in denominations of 10, 20, 100 and 1000 Schilling, with 50 Schilling notes reintroduced in 1951, followed by 500 Schilling in 1953. In 1957, the 10 Schilling note was replaced by a coin. However, although 20 Schilling coins were issued from 1980, the 20 Schilling note continued to be produced, with 5000 Schilling notes added in 1988.

1983 Series
Image Front Image Back Value € equiv. Dimensions Description Date of
Obverse Reverse printing issue
S 20 1.45 123 × 61.5 mm Moritz Daffinger Albertina (Vienna) 1 October 1986 19 October 1988
S 50 3.63 130 × 65 mm Sigmund Freud Josephinum (Alsergrund, Vienna) 2 January 1986 19 October 1987
S 100 7.27 137 × 68.5 mm Eugen von Böhm-Bawerk Akademie der Wissenschaften 2 January 1984 14 October 1985
S 500 36.34 144 × 72 mm Otto Wagner Post Office Savings Bank, Vienna 1 July 1985 1986
S 1000 72.67 152 × 76 mm Erwin Schrödinger University of Vienna 3 January 1983 1983
S 5000 363.36 160 × 78 mm Wolfgang Amadeus Mozart Wiener Staatsoper 4 January 1988 17 October 1989
1997 Series
Image Front Image Back Value € equiv. Dimensions Description Date of
Obverse Reverse printing issue
S 500 36.34 147 × 72 mm Rosa Mayreder Rosa Mayreder 1 January 1997 20 October 1997
S 1000 72.67 154 × 72 mm Karl Landsteiner Karl Landsteiner 1 January 1997 20 October 1997

See also

References

External links

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