Around 6.8 billion Schillings are still in circulation in Austria, worth over €495.8 million, according to the Austrian National Bank (OeNB).

Of the total, 3 billion Schillings are in banknotes, and 3.8 billion are in coins, the OeNB reports. The most commonly found notes include the 1,000-Schilling “Blues” and the 5,000-Schilling “Mozarts,” often tucked away in forgotten clothing, between the pages of old books, or hidden in attics and cellars during house clearances.

The Schilling was Austria’s official currency from 1925 to 1938 and again from 1945 until the euro’s introduction in 2002. It replaced the Austro-Hungarian crown, which had been devalued following World War I. A Schilling was divided into 100 Groschen, with the smallest coin in circulation being the 10-Groschen “Zehnerl,” worth just 0.007 euros (0.7 cents).

Exchange Still Ongoing

Each month, around 1.5 million Schillings are still exchanged for euros. Between January and November 2024, more than 57,000 Schilling banknotes and 2.8 million Schilling coins were exchanged, amounting to 18.4 million Schillings, or €1.3 million.

The most exchanged banknotes were the 20-Schilling notes, featuring a portrait of artist Moritz M. Daffinger, with 23,413 of these notes being exchanged. This was followed by 20,983 of the 100-Schilling notes, which depict economist Eugen Böhm von Bawerk. Smaller denominations were also exchanged, including 850,000 1-Schilling coins.

The euro, which replaced the Schilling in 2002, is fixed at 13.7603 Schillings to the euro. The currency was first introduced as electronic money on January 1, 1999, before becoming physical currency three years later, replacing the Schilling as well as other national currencies across Europe, including the Italian Lira and the French Franc.

The OeNB’s Money Museum in Vienna plans to mark the 100th anniversary of the Schilling’s introduction in 2025.