Untouched Treasures: Nearly 7 Billion Schilling Still in Circulation
Almost 7 billion Schilling are still in circulation. The value has only marginally decreased compared to 2023. By the end of November of the previous year, 6.8 billion Schilling worth about 497 million Euros had not been exchanged, and in 2024 at the same time, it is still 495.8 million Euros - and rounded up, still 6.8 billion Schilling that are "hidden". In total, 18.4 million Schilling were exchanged for 1.3 million Euros this year, the National Bank reported upon APA request.
Still 6.8 Billion Schilling Not Exchanged for Euros
Of the billion Schilling sum, three billion are in banknotes and 3.8 billion Schilling are in coins, according to the National Bank (OeNB). The most found are "Blues" (1,000 Schilling), "Mozarts" (5,000) and others in long unworn clothes, in books between the pages, and often in various hiding places in the attic or basement during house clearances.
Every month, about 1.5 million Schilling are still exchanged at the OeNB. From January to November 2024, over 57,000 Schilling banknotes and 2.8 million Schilling coins were exchanged. This resulted in a total sum of 18.4 million Schilling or 1.3 million Euros.
With banknotes, the most exchanged were 23,413 notes of the 20-Schilling note with the portrait of Moritz M. Daffinger, followed by 20,983 exchanged pieces of the 100-Schilling note with the portrait of Eugen Böhm von Bawerk. But smaller denominations were also exchanged: this year alone, 850,000 pieces of 1-Schilling coins were exchanged.
Euro Replaced Schilling as Currency in Austria in 2002
The Euro was introduced as book money on January 1, 1999. In 2002, it became a "real", tangible means of payment, replacing the Schilling in Austria, Lire in Italy, Franc in France, Gulden in the Netherlands, D-Mark in Germany, and other national currencies. 1 Euro is forever worth 13.7603 Schilling.
For the very young: A Schilling was divided into 100 Groschen. The smallest coin that was widely circulated until the end was the "Zehnerl" - ten Groschen. Such a "Zehnerl" has the equivalent value of 0.007 Euro (0.7 Cent).
Money Museum to Dedicate 2025 to the Schilling
As the OeNB further announced, Schilling nostalgics and money fans can also look forward to the second half of 2025: The Money Museum of the Central Bank in Vienna will then dedicate itself to the Schilling, also known as the Alpine dollar, and its introduction 100 years ago. The "hard currency", which was pegged solely to the D-Mark from the mid-1970s, was the currency of the Alpine Republic from 1925 to 1938 and from 1945 until it was replaced by the Euro.
The Schilling had replaced the currency of the k.u.k. Monarchy, the Crown. The Crown was devalued after the First World War and its currency area collapsed.
(APA/Red)
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