The schilling (German: Schilling) was the 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.
|Symbol||S or öS|
|Banknotes||20, 50, 100, 500, 1000 & 5000 schilling|
|Freq. used||10 & 50 groschen, 1, 5 & 10 schilling|
|Rarely used||1, 2 & 5 groschen, 20 & 50 schilling|
|Central bank||Oesterreichische Nationalbank|
|Source||CIA World Factbook 2001|
|Since||19 June 1989|
|Fixed rate since||31 December 1998|
|Replaced by €, non cash||1 January 1999|
|Replaced by €, cash||1 March 2002|
|€ =||S 13.7603|
This infobox shows the latest status before this currency was rendered obsolete.
Before the schilling
The currencies predating the schilling include:
- The gulden, in existence as a currency of the Holy Roman Empire since the 16th century;
- The Austro-Hungarian krone, introduced in 1892 upon adoption of the gold standard; and
- The Austrian krone, introduced for Austria in 1919 upon the dissolution of the Austro-Hungarian Empire.
The schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924, at a rate of one schilling to 10,000 kronen and issued on March 1, 1925. The schilling was abolished in the wake of Germany's annexation of Austria in 1938, when it was exchanged at a rate of two German reichsmarks to three schillings.
The schilling was reintroduced after World War II on November 30, 1945, by the Allied Military, who issued paper money (dated 1944) in denominations of 50 groschen, 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 November 21, 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. Coins were not affected by this reform. 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 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.
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.
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 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. Thus, the 5 schilling coins went from an aluminium composition to a silver one, a highly unusual event made possible by the substantial improvement of the Austrian economy in the 1950s. 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.
At the time of the changeover to the euro, the coins in circulation were the following. Coins under 10 groschen were rarely seen in circulation during their final years.
|Last Circulating Coins|
|Image||Value||Equivalent in euros (€)||Technical parameters||Description||Date of|
|Diameter||Mass||Composition||Edge||Obverse||Reverse||first minting||first issue||last minting||end of legal tender status|
|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||1950||31 December 2001|
|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||1991||31 December 2001|
|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||1992||31 December 2001|
|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||1998||31 December 2001|
|50 Groschen||3.63 cent||19.5 mm||3 g||91.5% copper
|Serrated||Shield, state title||Value, gentian flower, year of minting||1959||1 October 1959||1997||31 December 2001|
|S 1||7.27 cent||22.5 mm||4.2 g||Smooth||State title, value, year of minting||Edelweiss flowers, value||1959||1 September 1959||1998||31 December 2001|
|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||1998||31 December 2001|
|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||1998||31 December 2001|
|S 20||1.45||27.7 mm||8 g||Aluminium bronze
|Smoothly with 19 pits / Since 1993: Smooth 2||State title, the nine Austrian provinces||Value, year of minting||1980||10 December 1980||1993||31 December 2001|
|S 20||State title, value, shield, year of minting||Various commemorative subjects||1982||27 March 1982||2001||31 December 2001|
|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 subjects||1996||23 October 1996||2001||31 December 2001|
|These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.|
- 10 Schilling has pure nickel core
- Smoothly with 19 pits until 1992. In 1993, all previous 20 Schilling coins were reissued with smooth edges.
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.
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. 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.
|Image Front||Image Back||Value||Equivalent in euros (€)||Dimensions||Description||Date of|
|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|
|Image Front||Image Back||Value||Equivalent in euros (€)||Dimensions||Description||Date of|
|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 pixel per millimetre. For table standards, see the banknote specification table.|
- "Gold and silver shillings of Austria". Knowledge base - GoldAdvert. 2018-06-14. Retrieved 2018-06-15.
- Oesterreichische Nationalbank. "Gesamtverzeichnis der Schillingmünzen von 1947 bis 2001" (PDF) (in German). Archived from the original (PDF) on 2006-11-10. Retrieved 2006-10-23.
- Münze Österreich. "Coin Catalogue". Archived from the original on 2008-02-05. Retrieved 2006-10-23.
- Oesterreichische Nationalbank. "Circulation Coinage". Archived from the original on 2005-03-17. Retrieved 2006-10-23.
- Allied Military Currency Archived July 21, 2011, at the Wayback Machine
- Oesterreichische Nationalbank. "From the Schilling to the Euro". Archived from the original on 2006-09-24. Retrieved 2006-10-23.
- Krause, Chester L.; Clifford Mishler (2003). 2004 Standard Catalog of World Coins: 1901–Present. Colin R. Bruce II (senior editor) (31st ed.). Krause Publications. ISBN 0873495934.
- Cuhaj, George S. (editor) (2006). Standard Catalog of World Paper Money: Modern Issues 1961-Present (12th ed.). Krause Publications. ISBN 0-89689-356-1.CS1 maint: extra text: authors list (link)