Austrian schilling

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

The Schilling was the currency of Austria until 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 1 History 2 Coins 2.1 Note 3 Banknotes 4 See also 5 References 6 External links

[edit] History

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.

The Schilling was reintroduced after World War II on November 30, 1945 by the Allied Military, who issued paper money (dates 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. 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 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.

[edit] Coins

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 [1] [2] [3]
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	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
These images are to scale at 2.5 pixels per millimetre, a standard for world coins. For table standards, see the coin specification table.

[edit] Note

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.

[edit] Banknotes

The last two series of Austrian banknotes before euro.

1983 Series [4]
Image Front	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	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, a standard for world banknotes. For table standards, see the banknote specification table.

[edit] See also

• Austrian euro coins

[edit] References

1. ^ Oesterreichische Nationalbank. Gesamtverzeichnis der Schillingmünzen von 1947 bis 2001 (German). Retrieved on 2006-10-23.
2. ^ Münze Österreich. Coin Catalogue. Retrieved on 2006-10-23.
3. ^ Oesterreichische Nationalbank. Circulation Coinage. Archived from the original on 2005-03-17. Retrieved on 2006-10-23.
4. ^ Oesterreichische Nationalbank. From the Schilling to the Euro. Retrieved on 2006-10-23.

• (2003) Chester L. Krause, Cliffor Mischler, Colin R. Bruce II, et al. (editors): 2004 Standard Catalog of World Coins: 1901-present, 31st ed., Krause Publications. ISBN 0-87349-593-4.
• (2006) George S. Cuhaj: Standard Catalog of World Paper Money, Modern Issues, 1961-present, 12th ed., KP Books. ISBN 0-89689-356-1.

[edit] External links

• Overview of the Austrian Schilling from the BBC
• Library of Congress Country Studies Reports
• Papiergeld.at - Pictures of nearly all Austrian shilling banknotes

Old Schilling

Preceded by: Austro-Hungarian 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 Schilling

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

Pre-euro and other EU currencies

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