Austrian schilling

This article is about the currency. See Schilling of Solothurn for the Swiss family.

Austrian schilling

Österreichischer Schilling Template:De icon
File:Carl Ritter von Ghega money.jpg File:Austria-coin-1992-20S-Kärnten-RS.jpg 20 Schilling (1968) 20 Schilling
ISO 4217
Code	ATS
Unit
Symbol	S‎
Denominations
Subunit
1/100	Groschen
Banknotes	20, 50, 100, 500, 1000, 5000 Schilling
Coins
Freq. used	10, 50, Groschen, 1, 5, 10 Schilling
Rarely used	1, 2, 5 Groschen, 20, 50 Schilling
Demographics
User(s)	Austria
Issuance
Central bank	Oesterreichische Nationalbank
Website	www.oenb.at
Mint	Münze Österreich
Website	www.austrian-mint.com
Valuation
Inflation	2%
Source	CIA world factbook 2001
EU Exchange Rate Mechanism (ERM)
Since	19 June 1989
Fixed rate since	31 December 1998
Replaced by euro, non cash	1 January 1999
Replaced by euro, cash	1 January 2002
1 € =	13.7603

The Schilling was the currency of Austria until 2002, when the Euro was introduced at a fixed parity of €1 = 13.7603 Schilling. The "Schilling" was divided into 100 Groschen.

History

The Schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 Schilling to 10,000 Austrian 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 Reichsmark to 1.5 Schilling. It was reintroduced after World War II on November 30, 1945 by the Second Austrian Republic. The exchange rate to the Reichsmark was 1:1, limited to 150 Schilling per person. With a second "Schilling" law in November 1947 "new" notes were introduced which could also be exchanged at par for the first 150 Schilling, and 1 new Schilling = 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 Deutsche 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

Schilling
File:1schilling1983front.jpg	File:1schilling1983back.jpg
1 Schilling (1959-2001 design) (1983)

At the time of the changeover to the Euro, coins in circulation were[1]

• 1 Groschen (.0727 Eurocents) - zinc
• 2 Groschen (.1453 Eurocents) - aluminum
• 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 in previously circulation are:

Previously Circulating Coins
Image	Value	Diameter	Weight	Composition	Obverse	Reverse	Minted Year
50 groschen	50 Groschen	?? mm	?? g	??	??	??	1960
These images are to scale at ?? pixels per millimeter, a standard for world coins.

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	Moritz Daffinger	Albertina (Vienna)	1 October 1986	19 October 1988
File:50ATS.jpg	50 Schilling	3.63	130 x 65 mm	Sigmund Freud	Josephinum (Alsergrund, Vienna)	2 January 1986	19 October 1987
File:100ATS.jpg	100 Schilling	7.27	137 x 68.5 mm	Eugen von Böhm-Bawerk	Akademie der Wissenschaften	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
File:5000ATS.jpg	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
File:500ATS.jpg	500 Schilling	36.34	147 x 72 mm	Rosa Mayreder	Rosa Mayreder	1 January 1997	20 October 1997
File:1000ATS.jpg	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

• Austrian euro coins

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

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 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