Austrian schilling

The Austrian schilling (Schilling) was the official currency of Austria before the introduction of the euro in 2002. It was divided into 100 Groschen. The official abbreviation according to ISO 4217 is ATS. The official preset exchange rate was 1 EUR = 13.7603 ATS.

History

First Shilling

The schilling was created on December 20, 1924 (Schillingrechnungsgesetz), replacing the Austrian kroner with an exchange rate of 1 ATS = 10,000 Austrian kroner, and was physically introduced on March 1 from 1925. In 1938 after the Anschluss it was abolished and changed to 2 reichsmark for 3 shillings.

Second Shilling

After World War II, the shilling became legal tender again. In 1945 the Allied troops introduced notes dated 1944 in denominations from 50 groschen to 100 shillings. The exchange rate that was set was 1 RM = 1 ATS, limited to 150 ATS per person. The National Bank began issuing banknotes in 1945 and the first coin to be minted was in 1946.

A new law was passed on November 21, 1947, allowing the minting of a new shilling. The first notes could be exchanged at par for the first 150 ATS, and at 1 new shilling for three old ones in higher amounts. The currencies did not undergo this reform. In the 1950s, the shilling stabilized and was linked to the US dollar with an exchange rate of 1 USD = 26 ATS. After the Bretton Woods Agreements in 1971, the shilling was linked to other currencies and in 1976 it fixed its exchange rate to the German mark.

Although the euro replaced the shilling in 1999, euro notes and coins were not introduced until 2002, with an adaptation period that lasted until February 28. Notes and coins denominated in shillings may be exchanged indefinitely at any branch of the Austrian National Bank.

Coins

First Shilling

Aluminum bronze 1 and 2 groschen, cupronickel 10 groschen, and silver ½ and 1 shilling coins were introduced in 1925, followed by cupronickel 5 groschen in 1931. In 1934 silver was replaced by cupronickel in the ½ and 1 shilling coins, while silver 5 shillings were introduced. These coins continued to be produced until 1938.

Second Shilling

Between 1947 and 1952 coins were introduced in denominations of 1, 2, 5, 10, 20, and 50 groschen, and 1, 2, and 5 shillings. The 2 and 50 groschen and 1, 2, and 5 shilling coins were minted in aluminium, as were the second type of 10 groschen coins. The first 1, 5 and 10 groschen coins were minted in zinc, along with the 20 groschen in bronze-aluminium. The 1 groschen coin was only minted in 1947 while the 20 groschen and 2 shilling denominations were discontinued in 1954 and 1952 respectively. Silver 10 shillings were introduced in 1957, followed by aluminum bronze 50 groschen and 1 shillings in 1959, and silver 5 shillings in 1960. Cupronickel replaced silver in the 5 and 10 shilling coins in the decade of the 1970s, and a new bronze-aluminum 20 shilling coin was introduced in 1980.

Prior to the adoption of the euro, the legal tender coins were as follows. Values less than 10 groschen were legal tender, although due to their low value it was very rare to see them in circulation.

Denomination	Emission	Metal		Diameter (mm)	Weight (g)	Song	Reverse	Reversal	Image
		Ring	Centre
1 Groschen	1947	Zn		17,00	1,80		Arms shield REPUBLIK ÖSTERREICH	1 GROSCHEN Edelweiss Year of minting
2 Groschen	1950-1994	Al		18,00	0.90		Arms shield	2 GROSCHEN REPUBLIK ÖSTERREICH Year of minting
5 Groschen	1948-1994	Zn		19,00	2.50		Arms shield REPUBLIK ÖSTERREICH	5 GROSCHEN Edelweiss Year of minting
10 Groschen	1951-2001	Al		20,00	1,10		Arms shield REPUBLIK ÖSTERREICH 10	10 GROSCHEN Year of minting
50 Groschen	1959-2001	Cu+Al		19,50	3,00		Arms shield REPUBLIK ÖSTERREICH	50 GROSCHEN Prímula Year of minting
1 Chelinn	1959-2001	Cu+Al		22,50	4,20		EIN SCHILLING Edelweiss	1 SCHILLING REPUBLIK ÖSTERREICH Year of minting
5 Chess	1969-2001	Cu+Ni		23,50	4.80		Horse Lipizzaner REPUBLIK ÖSTERREICH	5 SCHILLING Arms shield Laurel branches Year of minting
10	1974-2001	Cu+Ni		26,00	6.20		Arms shield REPUBLIK ÖSTERREICH	10 SCHILLING Wachau woman
20 Chess	1980-1993	Cu+Al+Ni		27,70	8,00	Liso ·	Nine provinces Austrians personified REPUBLIK ÖSTERREICH	20 · ZWANZIG SCHILLING Year of minting
50	1996-2001	Cu+Al+Ni	Cu+Ni	26,50	8.15		Varieties (conmemorative)	50 SCHILLING Shields of the nine Austrian provinces REPUBLIK ÖSTERREICH

Tickets

First Shilling

In 1925 the Austrian National Bank issued notes in denominations of 5, 10, 20, 100 and 1,000 schillings, with the denominations of 500 schillings in 1929.

Second Shilling

In 1945 the Allied troops introduced notes dated 1944 in denominations of 50 groschen, and 1, 2, 5, 10, 20, 25, 50, 100 and 1,000 shillings. The National Bank also issued notes in denominations of 5, 10, 20, 50, 100, and 1,000 shillings. With the currency reform of 1947 new notes were introduced in denominations of 10, 20, 100 and 1,000 shillings, with a new issue of 50 shillings in 1951, and 500 shillings in 1953. In 1957 the 10 shilling note was replaced by a currency. However, although a new 20 shilling coin was introduced in 1980, the note was not replaced. In 1988 a new 5,000 shilling note was introduced.

The banknotes in circulation before the introduction of the euro were those of the following denominations: