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The schilling was the currency of Austria between 1924 and 1938 and again between 1945 and 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.
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 1 March 1925. The schilling was abolished in the wake of the Anschluss (1938), when it was exchanged at a rate of 1 German Reichsmark to 1.5 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 in November 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 schilling 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 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 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 remain exchangeable for euros at any branch of the Austrian National Bank (Oesterreichische Nationalbank) indefinitely.
Coins
First schilling
In 1925, bronze 1 and 2 groschen, cupro-nickel 10 groschen and silver ½ and 1 schilling coins were introduced, followed by cupro-nickel 5 groschen in 1931. In 1934, cupro-nickel 50 groschen and 1 schilling were introduced, together with silver 5 schilling. Coins were issued until 1938.
Second schilling
Between 1947 and 1952, coins in denominations of 1, 2, 5, 10, 20 and 50 groschen, 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 1st type of 10 groschen were in zinc, with the 20 groschen struck in aluminium-bronze. The 1 groschen was only struck in 1947, whilst 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 schillingcoins. 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.
At the time of the changeover to the euro, coins in circulation were the following. Coins under 10 groschen were rarely seen in circulation during the final years of validity.
Banknotes
First schilling
In 1925, notes were introduced by the Austrian National Bank in denominations of 5, 10, 20, 100 and 1000 Schillinge (note the different spelling of the plural on this first series of notes). 50 schilling notes were added in 1929.
Second schilling
20 schilling (1968)
In 1945, the Allies introduced notes (dated 1944) in denominations of 50 groschen, 1, 2, 5, 10, 20, 25, 50, 100 and 1000 schilling. The National Bank also introduced notes in 1945, in denominations of 5, 10, 20, 50, 100 and 1000 schilling. With the banknote reform of 1947, new notes were issued in denominations of 10, 20, 100 and 1000 schilling, with 50 schilling notes reintroduced in 1951, followed by 500 schilling in 1953. In 1957, the 10 schilling note was replaced by a coin. However, although 20 schilling coins were issued from 1980, the 20 schilling note continued to be produced, with 5000 schilling notes added in 1988.
奥地利先令简介
奥地利先令
奥地利先令是奥地利过去的货币单位，现通用欧元。
1918年奥匈帝国的解体伴随着急剧的通货膨胀。在历时四年的战争期间，奥匈盾的国内购买力丧失十六分之十五，国外币值也下降三分之二。自奥地利先令与匈牙利实行分治后，奥地利1919年创办一家中央银行，仅在本国国土流通的奥匈克朗上加盖“奥地利”的印戳。到了1922年，通货膨胀突破每月100％的速度，美元对奥地利克朗的比价竞超过1914年的14400倍。财政部长凯恩博克因此决定于1923年12月推出名为“先令”的新货币。有人对货币名称感到惊奇，凯恩博克解释说：“与一些人的想法相反，选择这个名称并不是要让人联想起英国的硬币。我们选用‘先令’一词，因为这是奥地利硬币或德国硬币从未用过的一个词。”先令硬币于1924年6月投人流通，纸币于1925年2月发行。1先令兑换1万克朗。
奥地利先令先令当时又名“阿尔卑斯元”。德奥合并后，先令于1938年4月被德国马克所取代。1945年12月，盟军在一周内又恢复了先令，基础汇率为10先令换1美元。面对通货膨胀的压力，“货币保护”法令于1947年强行把战争期间存入的、名义价值在150先令以上的存款一律按三分之一计算。许多储户因此破产。
奥地利于1948年加入国际货币基金组织。1953年，在26先令换1美元的汇率基础上，奥地利保证先令的可兑换。
1971年布雷顿森林体系瓦解后，奥地利货币当局另辟路径，决定先令与一篮子货币(包括德国马克、法国法郎、比利时法郎、荷兰盾、丹麦克朗、挪威克朗和瑞典克朗)相联系。到了1973年，先令单方面与欧洲货币蛇行浮动挂靠。三年后，德国马克被选为唯一的挂靠货币。这种情形一直到奥地利于1995年1月加入欧洲货币体系汇兑机制时为止。
奥地利先令面值与换算
1先令等于100格罗申(Groschen以前德国的小银币)。
纸钞面额有5000、1000、500、100、50、20先令；
硬币面额有1、2、5、10、50格罗申和1、5、10、20、25先令
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