Currencies/Austrian schilling

Introduction

The Austrian schilling (German: Österreichischer Schilling, ISO code: ATS) was the official currency of Austria from 1925 to 1938 and again from 1945 until 2002. It was subdivided into 100 groschen. The schilling replaced the hyperinflated Austrian krone in 1925, was abolished during the Nazi annexation of Austria in 1938, reintroduced in 1945, and finally replaced by the euro in 2002.

History

The schilling was introduced by the Schilling Act of 1924, becoming effective on 1 March 1925 at the rate of 1 schilling = 10,000 kronen. It became known as the Alpendollar due to its stability. In 1938, following the Anschluss, the schilling was replaced by the German Reichsmark at 1.50 schilling = 1 Reichsmark. After World War II, the schilling was restored on 30 November 1945 by the Allied occupation authorities. It remained the Austrian national currency until the adoption of the euro: non-cash conversion occurred in 1999, and coins and notes were withdrawn on 28 February 2002.

Coinage

Series

According to numismatic classification, Austrian schilling coins were issued in multiple series

1918–1938 First Republic – circulation, commemorative, probes

1945–2001 Second Republic – circulation, commemoratives (20 öS, 25 öS, 50 öS, 100 öS, 200 öS, 500 öS, 1000 öS, 2000 öS), probes

1959–2001 Proof sets

1992–2001 Mint sets

2008–Today Vienna Philharmonic (euro bullion continuation)

Distributions

Standard circulation

Circulating commemoratives

Commemorative issues

Bullion coinage

Pattern coinage

Numismatic products

Mint sets

Compositions

Schilling coins were struck in a wide variety of metals and alloys:

Aluminium

Aluminium-bronze

Aluminium-nickel-bronze

Bimetallic (including silver-gold issues)

Brass

Bronze

Copper

Copper-aluminium-nickel (Cu-Al-Ni)

Copper-nickel

Gold

Nickel

Silver

Zinc

Various (for sets only)

Shapes

Circular

Heptagonal (7-sided)

Octagonal (8-sided)

Various (sets only)

Banknotes

First Republic (1925–1938) 1, 5, 10, 20, 100, 1000 schilling notes.

Second Republic (from 1945) denominations included 5, 10, 20, 50, 100, 500, 1000, and later 5000 schilling. The Austrian National Bank (Oesterreichische Nationalbank) oversaw the issues.

Currency

The schilling was a decimal system currency:

100 groschen = 1 schilling

On adoption of the euro in 1999 (non-cash) and 2002 (cash), the fixed rate was set at

1 euro = 13.7603 schilling

Replacement

The schilling was withdrawn from circulation on 28 February 2002. It remains redeemable at the Oesterreichische Nationalbank indefinitely at the fixed euro conversion rate.