Austrian krone


Austrian krone

Infobox Currency
currency_name_in_local = Österreichische Krone de icon
image_1 = 1P049-1919-1 Krone.jpg
image_background_1 = black
image_title_1 = 1 Krone banknote (1919 on 1916)
using_countries = Austria, Liechtenstein
subunit_ratio_1 = 1/100
subunit_name_1 = heller
symbol = K
used_coins = 100, 200, 1000 Kronen
(20, 100 Kronen gold coins)
used_banknotes = 1 Krone, 2, 10, 20, 100, 1000, 5000, 10 000, 50 000, 100 000 and 500 000 Kronen
issuing_authority = Oesterreichisch-ungarische Bank, Oesterreichische Nationalbank
obsolete_notice = 1 January 1925

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).

Coins

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

According to the Treaty of St. Germain the newly created Republic of Austria had to overstamp the paper money circulating in its territory, then had to replace the overstamped banknotes with new ones, finally had to introduce a 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.


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