Austrian schilling

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.

Schilling  (German)
Austrian 20-Schilling note, circa 1988 Austria-coin-1992-20S-Kärnten-RS
20 schilling note, issued in 1986.20 schilling coin.
ISO 4217
CodeATS
Denominations
Subunit
 1/100groschen
PluralSchilling
groschenGroschen
SymbolS or öS
Banknotes20, 50, 100, 500, 1000 & 5000 schilling
Coins
 Freq. used10 & 50 groschen, 1, 5 & 10 schilling
 Rarely used1, 2 & 5 groschen, 20 & 50 schilling
Demographics
User(s)None, previously:
 Austria
Issuance
Central bankOesterreichische Nationalbank
 Websitewww.oenb.at
MintMünze Österreich
 Websiteaustrian-mint.com
Valuation
Inflation2%
 SourceCIA World Factbook 2001
ERM
 Since19 June 1989
 Fixed rate since31 December 1998
 Replaced by €, non cash1 January 1999
 Replaced by €, cash1 January 2002
=S 13.7603
This infobox shows the latest status before this currency was rendered obsolete.

History

First schilling

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 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 2 German reichsmark to 3 schilling.

Second schilling

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 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 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.

Coins

First schilling

In 1925, bronze 1 and 2 groschen, cupro-nickel 10 groschen, and silver ​12 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.[1]

Second schilling

50 schilling
50schilling
Value encircled by the Austrian coat-of-arms (at top) and coats of arms of the nine states of Austria International Garden Exhibition
64% silver, 20 g. The first year of reduced silver content in 50 schilling coin.
10 Austrian schilling (1979).
10 Austrian schilling
Obverse: Coat of arms of Austria with lettering "Lettering: "REPUBLIK ÖSTERREICH" (Republic of Austria). Reverse: Head of woman wearing the traditional headgear of Lower Austria, year and face value of coin. "WELZ" engraved at bottom.
Made of Copper-nickel and plated in Nickel, total 333,459,500 coins minted from 1974 to 2001.

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[2][3][4]
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 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 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 1991 31 December 2001
5 Groschen 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 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 1998 31 December 2001
50 Groschen 50 Groschen 3.63 cent 19.5 mm 3 g 91.5% copper
8.5% aluminium
Serrated Shield, state title Value, gentian flower, year of minting 1959 1 October 1959 1997 31 December 2001
1 Schilling 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
5 Schilling 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 1998 31 December 2001
10 Schilling 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
20 Schilling S 20 1.45 27.7 mm 8 g Aluminium bronze
92% copper
6% aluminium
2% nickel
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
20 Schilling S 20 State title, value, shield, year of minting Various commemorative subjects 1982 27 March 1982 2001 31 December 2001
50 Schilling 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.
  1. 10 Schilling has pure nickel core
  2. Smoothly with 19 pits until 1992. In 1993, all previous 20 Schilling coins were reissued with smooth edges.

Banknotes

First schilling

Austria 1 S 1924 - 11.5.25-31.12.26
1 Schilling of 1925
Austria 5 S 1925 - 8.6.25-31.7.28
5 Schillinge of 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

20 Schilling Carl von Ghega obverse
20 schilling (1968)
1000 Schilling - Kaplan
1000 schilling (1961)

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.[5] 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.

1983 Series[6]
Image Front Image Back Value Equivalent in euros (€) Dimensions Description Date of
Obverse Reverse printing issue
20 Schilling Moritz Daffinger obverse 20 Schilling Moritz Daffinger reverse S 20 1.45 123 × 61.5 mm Moritz Daffinger Albertina (Vienna) 1 October 1986 19 October 1988
50 Schilling Sigmund Freud obverse 50 Schilling Sigmund Freud reverse S 50 3.63 130 × 65 mm Sigmund Freud Josephinum (Alsergrund, Vienna) 2 January 1986 19 October 1987
100 Schilling Eugen Boehm von Bawerk obverse 100 Schilling Eugen Boehm von Bawerk reverse S 100 7.27 137 × 68.5 mm Eugen von Böhm-Bawerk Akademie der Wissenschaften 2 January 1984 14 October 1985
500 Schilling Otto Wagner obverse 500 Schilling Otto Wagner reverse S 500 36.34 144 × 72 mm Otto Wagner Post Office Savings Bank, Vienna 1 July 1985 1986
1000 Schilling Erwin Schrödinger obverse 1000 Schilling Erwin Schrödinger reverse S 1000 72.67 152 × 76 mm Erwin Schrödinger University of Vienna 3 January 1983 1983
5000 Schilling Mozart obverse 5000 Schilling Mozart reverse S 5000 363.36 160 × 78 mm Wolfgang Amadeus Mozart Wiener Staatsoper 4 January 1988 17 October 1989
1997 Series
Image Front Image Back Value Equivalent in euros (€) Dimensions Description Date of
Obverse Reverse printing issue
500 Schilling Rosa Mayreder obverse 500 Schilling Rosa Mayreder reverse S 500 36.34 147 × 72 mm Rosa Mayreder Rosa Mayreder 1 January 1997 20 October 1997
1000 Schilling Karl Landsteiner obverse Tausend Schiling hinten ab 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.

See also

References

  1. ^ "Gold and silver shillings of Austria". Knowledge base - GoldAdvert. 2018-06-14. Retrieved 2018-06-15.
  2. ^ 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.
  3. ^ Münze Österreich. "Coin Catalogue". Archived from the original on 2008-02-05. Retrieved 2006-10-23.
  4. ^ Oesterreichische Nationalbank. "Circulation Coinage". Archived from the original on 2005-03-17. Retrieved 2006-10-23.
  5. ^ Allied Military Currency Archived July 21, 2011, at the Wayback Machine
  6. ^ Oesterreichische Nationalbank. "From the Schilling to the Euro". Archived from the original on 2006-09-24. Retrieved 2006-10-23.

External links

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
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 sSchilling
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
Austrian Mint

The Austrian Mint (German: Münze Österreich) is located in Vienna and is responsible for minting Austrian coins. Since 1989 it has been a public limited company (Aktiengesellschaft) and a subsidiary of Austria's central bank Oesterreichische Nationalbank, which also has its headquarters in Vienna.

The Austrian Mint carries out both the design and stamping of the coins it produces. Until 2002 it was only responsible for minting the coins of the Austrian schilling; since then it has been responsible for producing the Austrian euro coins. The mint also produces other coins, such as gold bullion coins, as well as commemorative issues: the Vienna Philharmonic coins and the Maria Theresa thaler are produced by the Austrian mint, for example. The mint also supplies circulation coins and blanks to many other countries across the world.

Austrian euro coins

Austrian euro coins have a unique design for each denomination, with a common theme for each of the three series of coins. The minor coins feature Austrian flowers, the middle coins examples of architecture from Austria's capital, Vienna, and the two major coins famous Austrians. All designs are by the hand of Josef Kaiser and also include the 12 stars of the EU and the year of imprint.

Currencies of the European Union

There are eleven currencies of the European Union as of 2018 used officially by member states. The euro accounts for the majority of the member states with the remainder operating independent monetary policies. Those European Union states that have adopted it are known as the eurozone and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks.

Euro calculator

A euro calculator is a very popular type of calculator in European countries (see eurozone) that adopted the euro as their official monetary unit. It functions like any other normal calculator, but it also includes a special function which allows one to convert a value expressed in the previously official unit (the peseta in Spain, for example) to the new value in euros, or vice versa. Its use became very popular within the population and commerce of these countries especially during the first few months after adopting the euro.

As so many were produced, they are also found outside the eurozone to help staff with conversions at airports or railway stations where the euro has a strong presence.

Europa coin programme

The Europa Coin Programme, also known as the European Silver Programme, or the Eurostar Programme, is an initiative dedicated to the issuance of collector-oriented legal tender coins in precious metals to celebrate European identity. The issuing authorities of EU member countries voluntarily contribute coins to the Europa Coin Programme. Multiple countries have participated in the programme, beginning in 2004. Some coins are denominated in euro, others are denominated in other currencies. Europa coins are legal tender.

European Monetary Institute

The European Monetary Institute (EMI) was the forerunner of the European Central Bank (ECB), operating between 1994 and 1997.

European Monetary System

European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another.

Eurosystem

The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The ECB has, under Article 16 of its Statute, the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand.

The Eurosystem consists of the European Central Bank and the national central banks (NCB) of the 19 member states that are part of the eurozone. The national central banks apply the monetary policy of the ECB. The primary objective of the Eurosystem is price stability. Secondary objectives are financial stability and financial integration. The mission statement of the Eurosystem says that the ECB and the national central banks jointly contribute to achieving the objectives.The Eurosystem is independent. When performing Eurosystem-related tasks, neither the ECB, nor an NCB, nor any member of their decision-making bodies may seek or take instructions from any external body. The Community institutions and bodies and the governments of the member states may not seek to influence the members of the decision-making bodies of the ECB or of the NCBs in the performance of their tasks.

The Eurosystem is distinct from the European System of Central Banks (ESCB), which comprises the ECB and the central banks of all 28 European Union member states, including those that are not part of the eurozone.

First Austrian Republic

The First Austrian Republic (German: Republik Österreich) was created after the signing of the Treaty of Saint-Germain-en-Laye on 10 September 1919—the settlement after the end of World War I which ended the Habsburg rump state of Republic of German-Austria—and ended with the establishment of the Austrofascist Federal State of Austria based upon a dictatorship of Engelbert Dollfuss and the Fatherland's Front in 1934. The Republic's constitution was enacted in 1 October 1920 and amended on 7 December 1929. The republican period was increasingly marked by violent strife between those with left-wing and right-wing views, leading to the July Revolt of 1927 and the Austrian Civil War of 1934.

Jungholz

Jungholz (German pronunciation: [ˈjʊŋhɔlt͡s]) is a small village in the district of Reutte in the Austrian state of Tyrol that is only accessible via Germany. The lack of a road connection to anywhere else in Austria led to Jungholz being included in the German customs area until Austria joined the EU in 1995. It also used the German mark instead of the Austrian schilling as currency until 2002 when the euro took over. Letters to Jungholz can be addressed with either a German or an Austrian postcode (D-87491 and A-6691, respectively).

Kosovo and the euro

Before Kosovo declared its independence in 2008, Kosovo unilaterally adopted the euro as its currency in 2002 when it was under a United Nations mandate, although, it was not an official eurozone member.

List of euro mints

Several euro mints exist in the eurozone. Not every eurozone member state has its own mint to produce euro coins.

Mincovňa Kremnica, Slovakia

Slovak euro coins

Staatliche Münzen Baden-Württemberg

German euro coins

Latvian euro coins

Suomen Rahapaja (Mint of Finland)

Estonian euro coins

Greek euro coins

Luxembourgish euro coins

Slovenian euro coins

Cypriot euro coins

Irish euro coins

Istituto Poligrafico e Zecca dello Stato

Vatican euro coins

Monégasque euro coins

Monégasque euro coins feature two separate designs for the first two series of coins, and also two separate designs for the €1 and €2 coins for the first series. All the coins are inscribed with the word "Monaco" and the twelve stars of Europe. The Monégasque euro coins are minted by the Monnaie de Paris (Paris Mint).

Portuguese euro coins

Portuguese euro coins show three different designs for each of the three series of coins. However, they are quite similar in that all contain old Portuguese royal mints and seals within a circle of seven castles and five escutcheons with silver bezants (all similar to what can be seen in the coat of arms and flag of Portugal) and the word "Portugal". Also featured in the designs, all done by Vítor Manuel Fernandes dos Santos, are the 12 stars of the EU and the year of minting.

Sammarinese lira

The lira (plural lire) was the currency of San Marino from the 1860s until it was replaced by the Italian Lira in September 17, 2002. It was equivalent and pegged to the Italian lira. Italian coins and banknotes and Vatican City coins were legal tender in San Marino, while Sammarinese coins, minted in Rome, were legal tender throughout Italy, as well as in the Vatican City.

Schilling

Schilling may refer to:

Austrian schilling, the former currency of Austria

Schilling, California

Schilling & Company or McCormick & Company

Schilling Air Force Base

Schilling Power Station, an oil-fired power station near the nuclear power station at Stade, Germany

Schilling of Solothurn, a family of two Swiss chroniclers

The Schilling School for Gifted Children, a K-12 school in Cincinnati, Ohio

Vatican lira

The lira (plural lire) was the currency of the Vatican City between 1929 and 2002.

Zwentendorf Nuclear Power Plant

The Zwentendorf Nuclear Power Plant was the first commercial nuclear plant for electric power generation built in Austria, of 3 nuclear plants originally envisioned. Construction of the plant at Zwentendorf, Austria was finished but the plant never entered service. The start-up of the Zwentendorf plant, as well as the construction of the other 2 plants, was prevented by a referendum on 5 November 1978. A narrow majority of 50.47% voted against the start-up.Construction of the plant began in April 1972, as a boiling-water reactor rated at 692 megawatts electric power output. It was built by a joint venture of several Austrian electric power companies. The initial cost of the plant was around 5.2 billion Austrian schilling, approximately 1.4 billion Euro adjusted for inflation. The ventilation stack chimney of the plant is 110 metres tall. Since the plebiscite, the plant has been partially deconstructed. The Dürnrohr Power Station was built nearby as a replacement thermal power station.

Following the 1978 referendum, no commercial nuclear power plant (built for the purpose of producing electricity) ever went into operation in Austria. In 1978, a law Austria was enacted prohibiting the construction and operation of fission reactors for electrical power generation, hence the plant nowadays is used for research purposes. Three small nuclear reactors for scientific purposes had been built in the 1960s, one of these plants is still being operated.

ÖS

Ös may refer to:

Ös language, a Turkic language of Russia

öS, the currency sign of the Austrian schilling

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