Austrian schilling
- This article is about the currency. See Schilling of Solothurn for the Swiss family.
ISO 4217 Code | ATS |
User(s) | 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 |
€ = | 13.7603 Schilling |
Subunit | |
1/100 | Groschen |
Symbol | S |
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 |
Central bank | Oesterreichische Nationalbank |
Website | www.oenb.at |
Mint | |
Website | www.austrian-mint.com |
This infobox shows the latest status before this currency was rendered obsolete. |
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 |
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.
Coins
At the time of the changeover to the euro, coins in circulation were[1]
- 1 Groschen (.0727 eurocents) - zinc
- 2 Groschen (.1453 eurocents) - aluminium
- 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.
The denominations of the Austrian Schilling most commonly circulated in the final years were:
Commonly Circulating Coins | |||||||
---|---|---|---|---|---|---|---|
Image | Value | Diameter | Weight | Composition | Obverse | Reverse | Minted Year |
10 Groschen | ?? mm | ?? g | 98.5% aluminium 1.5% magnesium |
?? | ?? | 1983 | |
50 Groschen | ?? mm | ?? g | 91.5% copper 8.5% aluminium |
?? | ?? | 1960 | |
1 Schilling | ?? mm | ?? g | ?? | ?? | 1974 | ||
5 Schilling | ?? mm | ?? g | Cupronickel 75% copper 25% nickel |
?? | ?? | 1990 | |
10 Schilling | ?? mm | ?? g | ?? | ?? | 1980 |
Banknotes
The last two series of Austrian banknotes before euro [2]
1983 Series | |||||||
---|---|---|---|---|---|---|---|
Image Front | Value | € equiv. | Dimensions | Obverse | Reverse | Printed Date | Issue Date |
20 Schilling | 1.45 | 123 x 61.5 mm | 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 | 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 | |
These images are to scale at 0.7 pixels per millimeter, a standard for world banknotes. |
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 | |
These images are to scale at 0.7 pixels per millimeter, a standard for world banknotes. |
See also
External links
- OeNB Money Museum - "From the Schilling to the Euro"
- Overview of the Austrian Schilling from the BBC
- Library of Congress Country Studies Reports
- Papiergeld.at - Pictures of nearly all Austrian shilling banknotes
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 |
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 |
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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