The schilling was the currency of Austria from 1924 to 1938 & 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it. The schilling was divided into 100 groschen. Although the euro became the official currency of Austria in 1999, euro coins & notes were not introduced until 2002. Old schilling denominated coins & notes were phased out from circulation because of the introduction of the euro by 28 February of that year. Schilling banknotes & coins which were valid at the time of the introduction of the euro will remain exchangeable for euros at any branch of the (Oesterreichische Nationalbank) indefinitely. The Austrian Mint started issuing these 0.05 Austrian Schilling coins in 1948. The Austrian coin of 5 groschen displays the text ‘Republik Österreich’. The groschen is the 1/100 subdivision of the Austrian schilling. 5 groschen has a value of 0.05 Austrian Schilling.
|Product Currencies||Austrian Schilling|
|Series||Outmoded Austrian Schilling Coins|
|Text||REPUBLIK·ÖSTERREICH GROSCHEN 5|
|Object||Austria Coat of Arms, Value|
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