Learn more about Austrian schilling
- 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.
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.
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 <ref>Template:Cite web</ref> <ref>Template:Cite web</ref> <ref>Template:Cite web</ref>|
|Image||Value||€ equiv.||Technical parameters||Description||Date of|
|Image:Austria-Coin-1947-1g-VS.jpgImage:Austria-Coin-1947-1g-RS.jpg||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|
|Image:Austria-Coin-1972-2g-VS.jpgImage:Austria-Coin-1972-2g-RS.jpg||2 Groschen||0.15 cent||18 mm||0.9 g|| 98.5% aluminium|
|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|
|Image:Austria 05.gif||10 Groschen||0.73 cent||20 mm||1.1 g|| 98.5% aluminium|
|Smooth||Coat of arms||Value, year of minting||1951||27 November 1951|
|Image:Austria 02.gif||50 Groschen||3.63 cent||19.5 mm||3 g|| 91.5% copper|
|Serrated||Shield, state title||Value, year of minting||1959||1 October 1959|
|Image:Austria 06.gif||S 1||7.27 cent||22.5 mm||4.2 g||Smooth||State title, value, year of minting||Flowers, value||1959||1 September 1959|
|Image:Austria 07.gif||S 5||36.34 cent||23.5 mm||4.8 g|| Cupronickel1|
|Smooth||State title, horse rider||Shield, value, year of minting||1968||15 January 1969|
|Image:Austria 08.gif||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|
|Smoothly with 19 points/Smooth 2||State title, the nine Austrian provinces||Value, year of minting||1980||10 December 1980|
|Image:Austria-coin-1992-20S-Kärnten-RS.jpg||S 20||State title, value, shield, year of minting||Various commemorative subject||1982|
|Image:Austria-coin-1996-50S-1000Jahre-RS.jpg||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.|
- 10 Schilling has pure nickel core
- Smoothly with 19 points until 1992. In 1993, all previous 20 Schilling coins were reissued with smooth edges.
 See also
- (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.
 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
Ratio: 1 Schilling = 10,000 Kronen
|Currency of Austria |
1925 – 1938
Reason: German annexation (anschluss)
Ratio: 1 Reichsmark = 1.5 Schilling
Reason: restoration of sovereignty, under allied occupation
Ratio: at par, limited to 150 Schilling per person
|Currency of Austria |
November 30, 1945 – November, 1947
Ratio: at par for the first 150 Schilling per person, then 1 new Schilling = 3 Allied Military Schilling
Allied Military Schilling
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
Reason: deployment of euro cash
Ratio: 1 euro = 13.7603 Schilling
|Pre-euro and other EU currencies||Image:European flag.svg|