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Krone, WährungseinheitKrone (= crown; abbreviation: K), Austrian unit of currency (gold standard) from 1892 to 1924. 1 K = 100 Heller. The 1-Krone coin was minted in silver and weighed 5 g (4.175 g silver), the 10-Krone coin in gold with a weight of 3.388 g (3.049 g gold). In terms of the purchasing power 1 Krone (1910) was worth about 40 ATS (1994, approx. 3 $). Due to high inflation after World War I its value dwindled to 14,400th of its peace-time value and the Krone was replaced by the schilling in 1924 (10,000 K. = 1 schilling).
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