AUSTRIA 100 SHILLING 1945 banknote

Description

The schilling was established by the schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 schilling to 10,000
kronen
and issued on March 1, 1925. The schilling was abolished in the wake of
Germany's annexation of Austria
in 1938, when it was exchanged at a rate of 2
German reichsmark
to 3 schilling
The schilling was reintroduced after
World War II
on November 30, 1945 by the Allied Military, who issued paper money (dated 1944) in denominations of 50 groschen up to 100 schilling. The exchange rate to the reichsmark was 1:1, limited to 150 schilling per person. The Nationalbank also began issuing schilling notes in 1945 and the first coins were issued in 1946.
With a second "schilling" law on November 21, 1947, new banknotes were introduced. The earlier notes could be exchanged for new notes at par for the first 150 schilling and at a rate of 1 new schilling for 3 old schillings thereafter. Coins were not affected by this reform. The currency stabilised in the 1950s, with the schilling being tied to the
U.S. dollar
at a rate of = 26 schilling. Following the breakdown of the
Bretton Woods system
in 1971, the schilling was initially tied to a basket of currencies and then, in July 1976, the schilling was coupled to the
German mark
.
Although the
euro
became the official currency of Austria in 1999,
euro coins
and notes were not introduced until 2002. Old schilling denominated coins and notes were phased out from circulation because of the
introduction of the euro
by 28 February of that year. Schilling banknotes and coins which were valid at the time of the introduction of the euro will indefinitely remain exchangeable for euros at any branch of the
Oesterreichische Nationalbank
. This is one of Five available the one you see is the one you will receive.