Monetary System


Circulating Coins
1 schilling = 100 groschen

No mintmark on circulating coins

Groschen: 2, 5, 10, 50 / Schilling: 1, 5, 10, 20, 50
On January 1, 1999, the European Monetary Union introduced the euro as a common currency to be used by the financial institutions of member countries; Three years later, on 1 January 2002, the euro became the sole currency for everyday transactions with the member countries

Once the center of power for the large Austro-Hungarian Empire, Austria was reduced to a small republic after its defeat in World War I. Following annexation by Nazi Germany in 1938 and subsequent occupation by the victorious Allies in 1945, Austria's status remained unclear for a decade. A State Treaty signed in 1955 ended the occupation, recognized Austria's independence, and forbade unification with Germany. A constitutional law that same year declared the country's perpetual neutrality as a condition for Soviet military withdrawal. Following the Soviet Union's collapse in 1991 and Austria's entry into the European Union in 1995, some Austrians have called into question this neutrality. A prosperous, democratic country, Austria entered the Economic and Monetary Union in 1999.

Borders Czech Republic 362 km, Germany 784 km, Hungary 366 km, Italy 430 km, Liechtenstein 35 km, Slovakia 91 km, Slovenia 330 km, Switzerland 164 km
Economy Population: 8,174,762 (July 2004 est.)
GDP per capita: $ 30006.98

The Austrian Mint

For over 800 years the mint in Vienna has been striking silver and gold coins. Being situated in the imperial capital, it inevitably became the leading mint of the Habsburg Empire, and after 1918 the only mint of the Republic of Austria. In 1989 it was privatized, passing from the Ministry of Finance to the Austrian National Bank. The schilling was introduced in 1924 as a result of the galloping inflation after the First World War. Thanks to its strength, it soon became known as the Alpine Dollar. It was re-introduced after the Second World War, and became one of the world's hardest currencies.

The most important date was 1st. January, 1989, as the old state mint was converted into a public company owned by the Austrian National Bank. Since then a new wind has blown through its venerable halls. The fulfillment of the customer's wishes has absolute priority. Fairness toward the customers, fellow workers and toward the suppliers is the guiding principle of management. Partnership and cooperation is emphasized in all cases. Within this framework of sound business management it is the mint's aim to secure a good financial return. The success of our firm is based on the highest quality standards. This is as true for the art of engraving as for the art of minting or for the countless service areas. The qualifications of the mint's employees and of the technical standards are correspondingly high.

1994 Uncirculated Collection (8 coins) - Obverse (22 kb) and reverse (23 kb) of the coins

For further information, contact the Austrian Mint, P.O. Box 225, Am Heumarkt 1, A-1031 Vienna, Austria. Web: