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Austrian schilling

Österreichischer Schilling  (German)
20 Schilling note, issued in 1986. 20 Schilling coin.
ISO 4217 code ATS
Central bank Oesterreichische Nationalbank
 Website .at.oenbwww
User(s) None, previously:
 Austria
Inflation 2%
 Source CIA World Factbook 2001
ERM
 Since 19 June 1989
 Fixed rate since 31 December 1998
 Replaced by €, non cash 1 January 1999
 Replaced by €, cash 1 January 2002
= S 13.7603
Subunit
 1/100 Groschen
Symbol S or öS
Plural Schilling
Groschen Groschen
Coins
 Freq. used 10 & 50 Groschen, 1, 5 & 10 Schilling
 Rarely used 1, 2 & 5 Groschen, 20 & 50 Schilling
Banknotes 20, 50, 100, 500, 1000 & 5000 Schilling
Mint Münze Österreich
 Website .comaustrian-mint
This infobox shows the latest status before this currency was rendered obsolete.

The Schilling (German: Österreichischer Schilling) was the currency of Austria from 1925 to 1938 and from 1945 to 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.

Contents

  • History 1
    • First Schilling 1.1
    • Second Schilling 1.2
  • Coins 2
    • First Schilling 2.1
    • Second Schilling 2.2
  • Banknotes 3
    • First Schilling 3.1
    • Second Schilling 3.2
  • See also 4
  • References 5
  • External links 6

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 March 1, 1925. The Schilling was abolished in the wake of the Anschluss (1938), when it was exchanged at a rate of 2 German Reichsmark to 3 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 on November 21, 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 German 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 (Österreichische 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 issues 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

50 Schilling
Value encircled by the Austrian coat-of-arms (at top) and coats of arms of the nine states of Austria International Garden Exhibition
64% silver, 20 g. The first year of reduced silver content in 50 Schilling coin.

Between 1947 and 1952, coins in denominations of 1, 2, 5, 10, 20, and 50 Groschen; and 1, 2, and 5 Schilling were introduced. The 2 and 50 Groschen; 1, 2, and 5 Schilling were struck in aluminium, as was the second type of 10 groschen coin. The 1 and 5 groschen and the first type of 10 groschen were in zinc, with the 20 groschen struck in aluminium-bronze. The 1 groschen was only struck in 1947, while 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.

Silver coins were in the value of 25, 50, 100, 200 and 500 Schilling, but gold coins also existed for 500 and 1,000 Schilling. They were considered legal currency, but were rarely found in actual transactions.

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

Last Circulating Coins[1][2][3]
Image Value € equiv. Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse first minting first issue last minting end of legal tender status
1 Groschen1 groschen 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 1950 31 December 2001
2 Groschen2 Groschen 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 1991 31 December 2001
5 Groschen5 Groschen 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 1992 31 December 2001
10 Groschen 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 1998 31 December 2001
50 Groschen 50 Groschen 3.63 cent 19.5 mm 3 g 91.5% copper
8.5% aluminium
Serrated Shield, state title Value, gentian flower, year of minting 1959 1 October 1959 1997 31 December 2001
1 Schilling 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 1998 31 December 2001
5 Schilling 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 1998 31 December 2001
10 Schilling 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 1998 31 December 2001
20 Schilling20 Schilling S 20 1.45 27.7 mm 8 g Aluminium bronze
92% copper
6% aluminium
2% nickel
Smoothly with 19 pits / Since 1993: Smooth 2 State title, the nine Austrian provinces Value, year of minting 1980 10 December 1980 1993 31 December 2001
20 Schilling S 20 State title, value, shield, year of minting Various commemorative subjects 1982 27 March 1982 2001 31 December 2001
50 Schilling50 Schilling 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 subjects 1996 23 October 1996 2001 31 December 2001
These images are to scale at 2.5 pixels per millimetre. For table standards, see the .
  1. 10 Schilling has pure nickel core
  2. Smoothly with 19 pits until 1992. In 1993, all previous 20 Schilling coins were reissued with smooth edges.

Banknotes

First Schilling

1 Schilling of 1925
5 Schillinge of 1925

In 1925, notes were introduced by the Austrian National Bank in denominations of 1, 5, 10, 20, 100 and 1,000 Schillinge (note the different spelling of the plural on this first 1925-series of notes).

In 1927–1929 a second series was added with 5, 10, 20, 50 and 100 Schilling notes. The one Schilling was substituted by a coin.

Second Schilling

20 Schilling (1968)
1000 Schilling (1961)

In 1945, the Allies introduced notes (dated 1944) in denominations of 50 groschen, 1, 2, 5, 10, 20, 25, 50, 100 and 1,000 Schilling.[4] The National Bank also introduced notes in 1945, in denominations of 10, 20, 100 and 1,000 Schilling and the allied currency with smale values up to 5 Schilling remained valid until 1947. With the banknote reform of 1947, new notes were issued in denominations of 5, 10, 20, 50, 100 and 1,000 Schilling. Until 1957, the first 500 Schilling banknote was issued and the 5 and 10 Schilling notes were replaced by coins. However, although 20 Schilling coins were issued from 1980, the 20 Schilling note continued to be produced, with 5,000 Schilling notes added in 1988.

1983 Series[5]
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
These images are to scale at 0.7 pixels per millimetre.

See also

References

  1. ^  
  2. ^ Münze Österreich. "Coin Catalogue". Retrieved 2006-10-23. 
  3. ^  
  4. ^ Allied Military Currency
  5. ^  
  • Krause, Chester L., and Clifford Mishler (2003). 2004  
  • Cuhaj, George S. (editor) (2006).  

External links

  • Overview of the Austrian Schilling from the BBC
  • Library of Congress Country Studies Reports
  • Banknotes Austria - Pictures of nearly all Austrian shilling banknotes
  • colnect - catalogue by collectors > Coins > Austria (Österreich) > 1945~2002 - 2nd Republic (Schilling) Circulation (16), built 2003-2014
Old Schilling
Preceded by:
Austrian krone
Reason: inflation
Ratio: 1 Schilling = 10,000 Kronen
Currency of Austria
1925 – 1938
Succeeded by:
German Reichsmark
Reason: German annexation (anschluss)
Ratio: 1 Reichsmark = 1.5 Schilling
Allied Military Schilling
Preceded by:
German Reichsmark
Reason: restoration of sovereignty, under allied occupation
Ratio: at par, limited to 150 schilling per person
Currency of Austria
November 30, 1945 – November 1947
Succeeded by:
New Schilling
Reason: inflation
Ratio: at par for the first 150 schilling per person, then 1 new Schilling = 3 Allied Military Schilling
New Schilling
Preceded by:
Allied Military Schilling
Reason: inflation
Ratio: at par for the first 150 Schilling per person, then 1 Schilling = 3 allied military sSchilling
Currency of Austria
1947 – December 31, 2001
Note: euro existed as an accounting currency since 1 January 1999
Succeeded by:
Euro
Reason: deployment of euro cash
Ratio: 1 euro = 13.7603 Schilling
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