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Austrian schilling

From Wikipedia, the free encyclopedia
Not to be confused with the Australian Shilling.
For the historical European coin, see Schilling (coin).

Austrian schilling
Schilling (German)
20 schilling note, issued in 1986
ISO 4217
CodeATS
Unit
PluralSchilling
SymbolS or öS‎
Denominations
Subunit
 1⁄100groschen
Plural
 groschenGroschen
Banknotes
 Freq. used20, 50, 100, 500 & 1000 schilling
 Rarely used5000 schilling
Coins
 Freq. used10 & 50 groschen, 1, 5 & 10 schilling
 Rarely used1, 2 & 5 groschen, 20 & 50 schilling
Demographics
ReplacedAustrian krone
User(s)None, previously:
 Austria
Issuance
Central bankOesterreichische Nationalbank
 Websitewww.oenb.at
MintAustrian Mint
 Websiteaustrian-mint.com
Valuation
Inflation2%
 SourceCIA World Factbook 2001
EU Exchange Rate Mechanism (ERM)
Since19 June 1989
Fixed rate since31 December 1998
Replaced by euro, non cash1 January 1999
Replaced by euro, cash1 March 2002
1 € =S 13.7603
This infobox shows the latest status before this currency was rendered obsolete.

The schilling (German: Schilling; German pronunciation: [ˈʃɪliŋ] ⓘ) is a former 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.

History

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Following the Carolingian coin reform in 794 AD, new units of account were introduced, including the schilling, which consisted of 12 silver pfennigs. It was initially only a coin of account but later became an actual coin produced in many European countries.

Before the modern Austrian schilling

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The currencies preceding the schilling include:

In mediaeval Austria, there were short and long schilling coins, valued at 12 and 30 pfennigs respectively. Until 1857, the schilling was a currency unit for 30 pfennigs or 7+1⁄2 kreuzers. The Austrian groschen (also known as the Kaisergroschen, lit. “emperor's groschen/groat”) was a silver coin worth 12 pfennigs = 3 kreuzers = 2⁄5 schillings.[1]

First Austrian schilling

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The schilling was established by the Schilling Act (Schillingrechnungsgesetz) of 20 December 1924, at a rate of one schilling to 10,000 kronen and issued on 1 March 1925. The schilling was abolished in the wake of Germany's annexation of Austria in 1938, when it was exchanged at a rate of 1.50 schilling for one Reichsmark.

Second Austrian schilling

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The schilling was reintroduced after World War II on 30 November 1945 by the Allied Military, who issued paper money (dated 1944) in denominations of 50 groschen, 1, 2, 5, 10, 20, 25, 50, 100, and 1000 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 21 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 schillings thereafter. This reform did not affect coins. 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 until July 1976, when it 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 indefinitely remain exchangeable for euros at any branch of the Oesterreichische Nationalbank.

Coins

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First schilling

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In 1925, bronze 1 and 2 groschen, cupro-nickel 10 groschen, and silver 1⁄2 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.

Also issued gold and silver coins: 2 schillings (1937) – 64% silver, 5 schillings (1934) – 83% silver, 25 schillings (1926) – 90% gold, 100 schillings (1924) – 90% gold.[2]

Second schilling

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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 1, 5, 10, and 50 groschen were initially made from leftover blanks from the wartime pfennig issues. 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. As a result, the composition of the 5 Schilling coins changed from aluminum to silver in the 1950s, which was a highly unusual event. 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. Coins under 10 groschen were rarely seen in circulation during their final years.

At the time of the changeover to the euro, the coins in circulation were the following:

Coins of the Second Schilling[3][4][5]
Image Value Technical parameters Description Issued
from 		First
issued 		Withdrawn
Diameter
(mm) 		Mass
(g) 		Composition Edge Obverse Reverse
1 gr. 17.00 1.80 Zinc Smooth Value; year of issue Coat of arms; lettering:
Republik Österreich 		1947–1950 5 Apr 1948 31 Dec 2001
2 gr. 18.00 0.90 Aluminium: 98.5%
Magnesium: 1.5% 		Value; year of issue;
lettering:
Republik Österreich 		Coat of arms 1950–1991 15 Jul 1950
5 gr. 19.00 2.50 Zinc Reeded Value; year of issue Coat of arms; lettering:
Republik Österreich 		1948–1992 17 Jun 1948
10 gr. 21.00 3.50 Smooth 1947–1949 1 May 1947 31 Oct 1959
20.00 1.10 Aluminium: 98.5%
Magnesium: 1.5% 		Value; year of issue Coat of arms;
value; lettering:
Republik Österreich 		1951–1998 27 Nov 1951 31 Dec 2001
20 gr. 22.00 4.50 Copper: 91.5%
Aluminium: 8.5% 		Value; year of issue;
lettering:
Republik Österreich 		Coat of arms 1950–1954 23 Dec 1950 31 Jul 1959
50 gr. 22.00 1.40 Aluminium: 98.5%
Magnesium: 1.5% 		Smooth Value; year of issue Coat of arms; lettering:
Republik Österreich 		1946–1955 11 Dec 1947 31 Dec 1961
19.50 3.00 Copper: 91.5%
Aluminium: 8.5% 		Reeded Gentian;
value; year of issue 		1959–1997 1 Oct 1959 31 Dec 2001
S 1 25.00 2.00 Aluminium: 98.5%
Magnesium: 1.5% 		Smooth Sower; value;
year of issue;
lettering:
Republik Österreich 		Coat of arms 1946–1957 11 Dec 1947 31 Dec 1961
22.50 4.20 Copper: 91.5%
Aluminium: 8.5% 		Value; year of issue;
lettering:
Republik Österreich 		Edelweiss; value 1959–1998 1 Sep 1959 31 Dec 2001
S 2 28.00 2.80 Aluminium: 98.5%
Magnesium: 1.5% 		Coat of arms Value, year of minting 1946–1952 11 Dec 1947 30 Jun 1958
S 5 31.00 4.00 Aluminium: 98.5%
Magnesium: 1.5% 		Reeded Value; year of issue;
lettering:
Republik Österreich 		Coat of arms 1952–1957 25 Oct 1952 31 Dec 1961
23.50 5.20 Silver: 64%
Copper: 36% 		Coat of arms; value Horse rider; lettering:
Republik Österreich 		1960–1968 2 Jan 1961 30 Dec 1970
4.80 Cupronickel:
Cu: 75%; Ni: 25% 		Smooth 1968–1998 15 Jan 1969 31 Dec 2001
S 10 26.00 7.50 Silver: 64%
Copper: 36% 		Reeded Woman;
value; year of issue 		Coat of arms; lettering:
Republik Österreich 		1957–1973 1 Jul 1957 31 Mar 1977
6.20 Cupronickel:
Cu: 75%; Ni: 25% 		1968–1998 15 Jan 1969 31 Dec 2001
S 20 27.70 8.00 Aluminium bronze:
Cu: 92%
Al: 6%
Ni: 2% 		19 dots Value; year of issue Allegory of states;
lettering:
Republik Österreich 		1980–1992 10 Dec 1980
Smooth 1993
19 dots Coat of arms; value;
year of issue;
lettering:
Republik Österreich 		Various
commemorative
subjects 		1982–1993 27 Mar 1982
Smooth 1994–2001
S 50 26.50 8.15 Outer:
Aluminium bronze 		Smooth States' coats of arms;
value; lettering:
Republik Österreich 		Various
commemorative
subjects 		1996–2001 23 Oct 1996
18.50 Inner: Magnimat
For table standards, see the coin specification table.

Banknotes

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First schilling

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1 Schilling (1925)

In 1925, the Oesterreichische Nationalbank issued notes 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

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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.[6] The Oesterreichische Nationalbank also introduced notes in 1945, in denominations of 10, 20, 100 and 1,000 schilling and the allied currency with small 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.

Penultimate series (1983–1989)[7]
Designer: Robert Kalina
Image Value Euro
equivalent 		Dimensions
(mm) 		Main
colour 		Description First
printed 		First
issued 		Withdrawn Lapse
Obverse Reverse
[8] S 20 €1.45 123 × 62 Olive Moritz Daffinger Albertina 1 Oct 1986 19 Oct 1988 28 Feb 2002 Unlimited
[8] S 50 €3.63 130 × 65 Purple Sigmund Freud Josephinum 2 Jan 1986 19 Oct 1987
[8] S 100 €7.27 137 × 68 Green Eugen von Böhm-Bawerk Academy of Sciences 2 Jan 1984 14 Oct 1985
[8] S 500 €36.34 144 × 72 Red Otto Wagner Postal Savings Bank 1 Jul 1985 20 Jun 1986 20 Apr 1998 20 Apr 2018
[8] S 1000 €72.67 152 × 76 Blue Erwin Schrödinger University of Vienna 3 Jan 1983 14 Nov 1983
[8] S 5000 €363.36 160 × 80 Brown Wolfgang Amadeus Mozart Vienna State Opera 4 Jan 1988 17 Oct 1989 28 Feb 2002 Unlimited
Last series (1997)
Designer: Robert Kalina
[8] S 500 €36.34 149 × 72 Orange Rosa Mayreder Women's Associations
meeting, Vienna (1911) 		1 Jan 1997 20 Oct 1997 28 Feb 2002 Unlimited
[8] S 1000 €72.67 154 × 72 Blue Karl Landsteiner Landsteiner
in a laboratory
For table standards, see the banknote specification table.

See also

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References

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  1. ^ Eissenbeiss, Philipp (1830). Neuer allgemeiner Contorist oder Handbuch zur Kenntniß der Wechsel- und Staatspapier-Preise: der Rechnungs- und geprägten Münzen, der Maasse und Gewichte aller Länder in und ausser Europa, mit ihren gehörigen Vergleichungen untereinander. vol. 2. Hinrichs. p. 483.
  2. ^ "Gold and silver shillings of Austria". Knowledge base - GoldAdvert. 14 June 2018. Retrieved 15 June 2018.
  3. ^ Oesterreichische Nationalbank. "Gesamtverzeichnis der Schillingmünzen von 1947 bis 2001" (PDF) (in German). Archived from the original (PDF) on 10 November 2006. Retrieved 23 October 2006.
  4. ^ Münze Österreich. "Coin Catalogue". Archived from the original on 5 February 2008. Retrieved 23 October 2006.
  5. ^ Oesterreichische Nationalbank. "Circulation Coinage". Archived from the original on 17 March 2005. Retrieved 23 October 2006.
  6. ^ Allied Military Currency Archived July 21, 2011, at the Wayback Machine
  7. ^ Oesterreichische Nationalbank. "From the Schilling to the Euro". Archived from the original on 24 September 2006. Retrieved 23 October 2006.
  8. ^ a b c d e f g h "Schilling banknotes of the Oesterreichische Nationalbank 1945–2002". www.oenb.at. Oesterreichische Nationalbank. Retrieved 14 April 2025.
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Wikimedia Commons has media related to Austrian schilling.
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
30 November 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 – 31 December 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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