Schilling Bullion: The Iconic Austrian Coin
The Austrian Schilling gold bullion coins is one of the most sought after in the bullion world. The Austrian Mint is one of the oldest in the world and is noted for its advanced manufacturing techniques and pristine quality of production. Steeped in history, Austrian Schilling gold coins have a high numismatic quality and are a valuable asset to investors.
Buying Schilling coins
To buy Austrian Schilling gold coins at the CoinInvest store, simply select the coin of your choice by clicking on the image from the selection above. This will take you through to the product description page where you can read more about the individual coins. To buy the coins add to your basket by clicking on the marked orange stripped in the volume pricing section. It should be noted that the actually face value of the coins stated on the reverse side is not the true value of the bullion – in today's economic climate, Schillings are worth much more and are calculated in accordance with the latest spot prices.
Schilling: the solemn Austrian currency between the two great wars
The Gold Schilling was the official currency of Austria between 1926 and 1938. It is a coin of classical beauty and great historical importance, commemorating a very difficult period for Austria as well as the rest of Europe. Minted in proof-like quality, most coins are found today in a phenomenal state of preservation. The Schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 replacing Austria's previous currency using the exchange rate of 1 Schilling to 10,000 Austro-Hungarian Kronen. It was issued on March 1, 1926 and was abolished following the Anschluss, namely the annexation of Austria into the German Third Reich following years of strain by supporters in Germany and Austria for the commonly known "Heim ins Reich" movement. The Austrian schilling was then exchanged at a rate of 2 German Reichsmarks to three Schillings. When Austria declared war on Serbia, World War I
erupted. After the death of Emperor Franz Joseph in 1916 and following the end of the war in 1918, the 1st Republic of Austria was enacted. Brimming with ethnic tensions and locked into a rigid system of alliances from the 19th century wars, the Austrian Republic carried a beast of burden right from the start. Massive inflation and unemployment were daily business while economic collapse was close. In 1933, the weak coalition government between the Christian-Social and the Social-Democratic parties gave way to right-wing Engelbert Dollfuss
who was Chancellor from 1932, as leader of a coalition government designed to block the problems caused by the Depression. In May 1934 Doffluss declared martial law in order to protect Austria from Hitler, but was murdered by Nazis in an attempted rebellion.
The word schilling comes from “scilling", an accounting term that dates back to Anglo-Saxon times where it was deemed to be the value of a cow in Kent or a sheep elsewhere. The word is thought to derive from the base skell-, "to ring/resound" and the diminutive suffix -ling. Another theory supports that the name comes from the Old German language "scilling" likely named after "scilt" or "schild" which is translated by shield. The schilling was struck for the first time as money in France in 1266. Then followed the "long schillings" of Bavaria (worth 30 pfennigs), the last of which were issued in 1866 for Mecklenburg, a historical region in northern Germany comprising the western and larger part of the federal-state Mecklenburg-Vorpommern. Austrian Schillings were minted in many denominations, starting from 1 Groschen up to 100 shillings, which were made from bronze, cupro-nicrkel, silver and gold.
Gold coins were struck in the 25 and 100 shilling denominations and were made of 90% gold. One hundred shilling coins had a different design from 1926-1934, then between 1935 and 1938. Overall, mintages on these coins are extremely low with only 369,076 known to exist, largely adding to the coins' investment value. The Allied Military reintroduced Austria's currency after World War II on November 30, 1945 issuing paper money (dated 1944) in denominations of 50 Groschen up to 100 Schilling.
In 1976, the Austrian Mint issued a gold 1000 schilling coin to commemorate the 1,000th anniversary of the advent of the Babenberg Dynasty. It was the first time the Austrian Mint ever produced a coin with such a high face value. Since then there have been several different designs and types of gold 1000 schilling coins, as well as at least seven different specifications. Commemorative coins are a tradition for the Austrian Mint and they are always well made and artistic. There have also been a large number of commemorative issues struck in silver, the first being the 1989 Gustav Klimt/Art Nouveau 500 shilling piece.
Austrian gold schillings are made of 90% pure gold. On the reverse side we have the simplest doric branch motif adorning the denomination in schillings. The date of issue is commonly divided by two wheat sprigs.
On the reverse side, gold schillings invariably feature the Austrian Imperial Eagle and the logo REPUBLIK ÖSTERREICH. Amazingly, the eagle is shown holding a hammer and sickle, a symbol that has become synonymous with communism despite the fact that Austria was an independent republic from 1914 to 1938. However, the hammer and sickle has a different meaning on the Austrian schillings, the sickle represents agriculture and the hammer is representative of industry. The eagle symbolizes knowledge and power. The names of the coin's designer, Hartig is also found on the reverse.
The obverse side of Austrian schillings often have different designs. On the 1000 schilling we find St. Leopold, the patron saint of Austria, whilst the 25 schilling is a simple starting the value of the coin with the two eidleweiss sprays.
The production of Schilling coins
The Austrian Mint has been producing innovative coinage and currency for over 800 years, carrying out both the design and minting of the coins it produces. It is one of the oldest institutions in the world producing non-stop since Richard the Lionheart provided 12 tonnes of silver practically laying the foundations of the Austrian Mint. The impeccably crafted gold Shillings minted in the very heart of Vienna are highly sought after by investors and collectors all over the world for their rarity and quality of craftsmanship.
The Austrian Mint Quality Assurance
Representing a very crucial period in Austria's history, these extremely delicate gold coins, constitute an honest investment in gold bullion, having the added plus of rarity and the impressive characteristic that, although they were circulating coins a few decades ago, most of them are as radiant as on the first day they left the Vienna Mint.
Selling Shilling coins
If you have any gold schilling bullion coins for sale we would love to hear from you. As one of the leading bullion coin dealers in Europe we promise to offer excellent rates based on current market prices. All you need to do is contact a member of our sales team and they will prepare a fixed-sum offer on your behalf and confirm the same by email. You have a limited time to accept, but there is no obligation to sell.