Austrian schilling

This article is about the currency. See Schilling of Solothurn for the Swiss family.

The Schilling was the currency of Austria until 2002, when the Euro was introduced at a fixed parity of €1 = 13.7603 Schilling. The "Schilling" was divided into 100 Groschen.

History

The Schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 Schilling to 10,000 Austrian 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 Reichsmark to 1.5 Schilling. It was reintroduced after World War II on November 30, 1945 by the Second Austrian Republic. The exchange rate to the Reichsmark was 1:1, limited to 150 Schilling per person. With a second "Schilling" law in November 1947 "new" notes were introduced which could also be exchanged at par for the first 150 Schilling, and 1 new Schilling = 3 old Schilling thereafter. 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 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

Schilling
bgcolor="black"
1 Schilling (1959-2001 design) (1983)

At the time of the changeover to the Euro, coins in circulation were^*

1 Groschen (.0727 Eurocents) - zinc
2 Groschen (.1453 Eurocents) - aluminum
5 Groschen (.3634 Eurocents) - zinc
10 Groschen (.7267 Eurocents) - 98.5% aluminium, 1.5% magnesium
50 Groschen (3.63 Eurocents) - 91.5% copper, 8.5% aluminium
1 Schilling (7.27 Eurocents) - 91.5% copper, 8.5% aluminium
5 Schilling (36.34 Eurocents) - cupronickel (75% copper, 25% nickel)
10 Schilling (72.67 Eurocents) - cupronickel (75% copper, 25% nickel), pure nickel core
20 Schilling (1.45 Euros) (usually commemorative, less used than the banknote)
50 Schilling (3.63 Euros) (commemorative, relatively rarely seen in circulation)

Coins under 10 groschen were rarely seen in circulation during the final years of validity. Coins of 100 Schilling and higher were also issued for collectors, but did not circulate.

Banknotes

The last two series of Austrian banknotes before Euro ^*

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

1997 Series
Image Front	Value	€ equiv.	Dimensions	Obverse	Reverse	Printed Date	Issue Date
500 Schilling	36.34	147 x 72 mm	Rosa Mayreder	Rosa Mayreder	1 January 1997	20 October 1997
1000 Schilling	72.67	154 x 72 mm	Karl Landsteiner	Karl Landsteiner	1 January 1997	20 October 1997

External links

Economy of Austria | History of Austria | Currencies replaced by the Euro | Modern obsolete currencies

Gourt Home::Gourt :: Austrian schilling

History

Coins

Banknotes

External links