Shillings In Austria: Accepted Or Rejected?

The Austrian Schilling was the currency of Austria from 1925 to 1938 and from 1945 to 1999, and the circulating currency until 2002 when it was replaced by the Euro. The name schilling is directly related to the English shilling, with both words gradually evolving from a unified original name. Although the Euro became the official currency of Austria in 1999, Euro coins and notes were not introduced until 2002. The Oesterreichische Nationalbank (OeNB) will still exchange unlimited amounts of schilling banknotes and coins of the last series into Euro for an unlimited period. The exchange rate is 1 Euro = 13.7603 Schilling.

Where can I exchange Austrian shillings?

The Austrian 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.

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.

Where can I exchange Austrian Schillings?

The Oesterreichische Nationalbank (OeNB) will still exchange unlimited amounts of schilling banknotes and coins of the last series into Euros for an unlimited period. The exchange rate is 1 Euro = 13.7603 Schillings.

In addition to the schilling circulation coins, the OeNB also exchanges all silver schilling coins issued from 1955 to 2001 at their face value (ATS 25, ATS 50, ATS 100 or ATS 500).

Please note that depending on the current silver price, schilling silver coins may sell at higher prices at professional coin dealers.

Another option is to use a specialist company such as Leftover Currency or Cash4Coins, which allow you to exchange both Austrian schilling coins and banknotes.

What is the exchange rate of Austrian shillings to euros?

The Austrian schilling was replaced by the euro on 1 January 1999, with euro coins and notes being introduced in 2002. The official exchange rate is fixed at €1 to 13.7603 Austrian schillings.

The Oesterreichische Nationalbank (OeNB) will still exchange unlimited amounts of schilling banknotes and coins of the last series into euros for an unlimited period. However, the exchange period of 20 years for all schilling banknotes withdrawn before the introduction of the euro has expired, so these older banknotes can no longer be exchanged.

What is the exchange rate of Austrian shillings to US dollars?

The Austrian Schilling is no longer used in Austria, having been replaced by the Euro on January 1, 1999. However, the Oesterreichische Nationalbank (OeNB) will still exchange unlimited amounts of schilling banknotes and coins of the last series into euros for an unlimited period. The exchange rate is 1 Euro = 13.7603 Schillings.

As of December 2024, the mid-market exchange rate for 1 Austrian Schilling to US Dollar was 1 ATS = 0.075561737 USD.

The best day to exchange Austrian Schillings for US Dollars in 2024 was Friday, August 23, when the currency reached its highest value. On that day, 40 Austrian Schillings were worth 3.25650 US Dollars.

The worst day to exchange Austrian Schillings for US Dollars in 2024 was Wednesday, December 18, when the exchange rate had fallen to its lowest value. On that day, 40 Austrian Schillings were worth 3.00868 US Dollars.

What is the history of the Austrian schilling?

The Austrian schilling has a long history that dates back to the Carolingian coin reform in 794 AD. Here is a detailed overview of the history of the Austrian schilling:

The Early History of the Schilling

Following the Carolingian coin reform in 794 AD, new units of currency were introduced across the Carolingian Empire, including the schilling. This early version of the schilling consisted of 12 silver pfennigs and was initially a coin of account rather than an actual coin. Over time, however, it became a physical coin produced in many European countries.

Predecessor Currencies

Before the modern Austrian schilling was introduced, several other currencies were used in Austria and the Austro-Hungarian Empire. These predecessor currencies include:

• The florin: Used in the Holy Roman Empire since the 16th century, with 8 schillings being equal to 60 Kreuzer or 240 pfennigs.
• The Austro-Hungarian gulden: Introduced after 1857, each gulden was divided into 100 Neukreuzer.
• The Austro-Hungarian krone: Adopted in 1892 when the Austro-Hungarian Empire adopted the gold standard.
• The Austrian crown: Introduced in 1919 following the dissolution of the Austro-Hungarian Empire after the First World War.

The First Austrian Schilling

The modern Austrian schilling was first established by the Schilling Act (Schillingrechnungsgesetz) on 20 December 1924. This act set the exchange rate for the new currency at one schilling to 10,000 kronen, and the first schilling coins and notes were issued in March 1925. The first schilling note was issued at a denomination of 100 schillings. The schilling became one of the most stable currencies in Europe due to Austria's strict hard-currency policy, earning it the nickname "Alpendollar".

However, the first schilling was short-lived as it was abolished in 1938 following Germany's annexation of Austria. At the time of its abolition, the exchange rate was set at 1.50 schillings per one Reichsmark.

The Second Austrian Schilling

After World War II, the schilling was reintroduced on 30 November 1945 by the Allied Military. Paper money dated 1944 was issued in various denominations, ranging from 50 groschen to 1000 schillings. The Nationalbank of Austria also began issuing schilling notes in 1945, and the first coins were issued in 1946.

In 1947, a second "schilling" law was enacted, introducing new banknotes. The earlier notes could be exchanged for new ones at a rate of 1 new schilling for 3 old schillings after the first 150 schillings at par. This reform stabilised the currency, and in the 1950s, the schilling was tied to the US dollar at an exchange rate of $1 to 26 schillings.

Transition to the Euro

In 1999, the euro became the official currency of Austria, but euro coins and notes were not introduced until 2002. Old schilling-denominated coins and notes were gradually phased out, and by 28 February 2002, they were no longer in circulation. However, the Oesterreichische Nationalbank continues to exchange unlimited amounts of schilling banknotes and coins of the last series into euros indefinitely. The official exchange rate is €1 to 13.7603 schillings.

What is the history of the Austrian schilling's exchange rate?

The Austrian schilling was the currency of Austria from 1925 to 1938, and then again from 1945 to 1999, with coins and notes still circulating until 2002.

The first schilling was established by the Schilling Act of 20 December 1924, at a rate of one schilling to 10,000 kronen. This first schilling was abolished in 1938 when Germany annexed Austria, and the schilling was exchanged at a rate of 1.50 schilling for one Reichsmark.

The second Austrian schilling was reintroduced after World War II on 30 November 1945 by the Allied Military. The exchange rate to the Reichsmark was 1:1, with a limit of 150 schilling per person. The currency stabilised in the 1950s, with the schilling being tied to the US dollar at a rate of $1 = 26 schillings. Following the breakdown of the Bretton Woods system in 1971, the schilling was initially tied to a basket of currencies until July 1976, when it was coupled to the German mark.

The euro became the official currency of Austria in 1999, and euro coins and notes were introduced in 2002. The exchange rate was set at €1 = 13.7603 schillings.

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