Austrian krone

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Austrian krone
Österreichische Krone (German)
AUSTRIA - 5000 Krone (1922) obv+rev.jpg
5000 kronen banknote, 1922.
Denominations
Subunit
 1/100 heller
Symbol K
Banknotes 1 Krone, 2, 10, 20, 100, 1000, 5000, 10 000, 50 000, 100 000 and 500 000 Kronen
Coins 100, 200, 1000 Kronen
(20, 100 Kronen gold coins)
Demographics
User(s) Austria, Liechtenstein
Issuance
Central bank Oesterreichisch-ungarische Bank, Oesterreichische Nationalbank
This infobox shows the latest status before this currency was rendered obsolete.

The Krone (pl. Kronen) was the currency of Austria (then called Deutschösterreich) and Liechtenstein after the dissolution of the Austro-Hungarian Empire (1919) until the introduction of the Schilling (1925) and the Franken, respectively.

Coins[edit]

Coins included 20 and 100 Krone gold coins minted with the same standard as their Austro-Hungarian Krone counterparts.

To ease the introduction of the new currency, 100, 200 and 1000 Krone coins were minted right before 1925 with the same parameters as the equivalent Groschen coins (1, 2 and 10 Groschen) that replaced them.

Paper money[edit]

According to the provisions of the Treaty of St. Germain the newly created Republic of Austria had to overstamp the old paper money of the former Austro-Hungarian Empire still circulating in its territory, then had to replace the overstamped banknotes with new ones, and finally had to introduce an entirely new currency.

To fulfil the first step, circulating banknotes were overstamped with the inscription DEUTSCHÖSTERREICH, and new banknotes were also issued with this feature. Later, still under the name Oesterreichisch-ungarische Bank, banknotes were printed using the German-language clichés on both sides - and still bearing the DEUTSCHÖSTERREICH inscription. From 1920 on a new stamp appeared on banknotes: "Ausgegeben nach dem 4. Oktober 1920".

In 1922 a new series of Krone banknotes was introduced with a completely new design to fulfil the second step. The series contained 1 Krone, 2, 10, 20, 100, 1000, 5000, 50 000, 100 000 and 500 000 Kronen, later 10 000 Kronen (1 000 000 Kronen was planned but not issued).

In 1925, as the third step, the new Schilling banknotes were emitted.