Schilling (S, ATS), currency of the Republic of Austria until December 31, 1998; replaced the previous currency, the "Krone", in the wake of Inflation after the First World War (ATS 1 = 10,000 Kronen) and was introduced officially on December 20, 1924, effective as of January 1, 1925, by the Schilling Act (ATS 1 = 100 Groschen). Originally the Schilling was supposed to be subdivided into 100 "Stüber" instead of 100 Groschen. Thanks to effective monetary policies the Schilling remained a stable currency during the First Republic (nicknamed the "Alpendollar"). After Germany´s annexation of Austria in 1938, the Schilling was subjected to an unfavourable exchange rate of ATS 1.50 S = 1 German Reichsmark. In 1945 the Allies issued Schilling banknotes, and in the first currency reform of November 30, 1945 the Schilling was declared legal tender in Austria (1 German Reichsmark = ATS 1); only 150 German Reichsmarks could be exchanged per person, and the rest was placed in savings accounts. A second currency reform (November 19, 1947), which brought with it a devaluation of the Schilling by one-third and a partial tax on savings accounts levied by the federal government, laid the cornerstone for economic development in the Second Republic. Money.
In 1928-1937 Austria issued commemorative Double Schilling coins and minted ATS 25 and ATS 100 "Bundesgoldmünzen" ("federal gold coins"). In addition to ATS 1, ATS 2, ATS 5, ATS 10 and ATS 20 coins, commemorative coins in gold in silver with a nominal value of ATS 25, ATS 50, ATS 100, ATS 500 and ATS 1,000, as well as special commemorative coins and gold bullion coins ("Vienna Philharmonic Orchestra" with a nominal value of ATS 200, ATS 500, ATS 1,000 and ATS 2,000, have been minted during the Second Republic. Bank notes include ATS 10, ATS 20, ATS 50, ATS 100, ATS 500, ATS 1,000 and ATS 5,000 bills.
On January 1, 1999 the Euro replaced the Schilling, at first only as an accounting unit and bank money; Schilling coins and banknotes will probably be discontinued from January 1, 2002 and replaced by Euro coins and banknotes.
"Schilling" has been used as the name for coins in different European countries since the Middle Ages. Its original meaning corresponded only to a unit of counting (ATS 1 = 30 pieces, or 30 pfennigs). in Latin documents it corresponds to the "solidus"; however, there is no connection to the gold coin of late Roman Antiquity which also bore this name.
Literature: K. Bachinger and H. Matis, Der österreichische Schilling, Geschichte einer Währung, 1974.