Austrian Paper Money

Austrian Paper Money

Austrian paper money or banknotes are unique in design. Austria paper currency is often collected for keepsakes or memorabilia. Vintage money is the highlight of any collectors treasure. Stories of rich history and changes in the exchange rate are often told. The original Austrian National Bank was founded centuries ago. Bank notes were given moderately. The exchange value changed drastically within the Austrian financial system. The rate of exchange from years ago still remains a mystery to many. The economic downfall of the euro increased interest in currency exchange.

What is the Currency in Austria?

Euro is the currency that is most common in Austria. The Austrian National Bank accepts banknotes or coins in Austrian Schillings in exchange for euro. Austria does not accept the exchange of previous money types of other European countries as legal tender. The circulation of National currencies can be imported and exported without limitations on the amount. The euro has been the official currency of Austria since 2002. One euro equals 100 cents. Schilling banknotes are redeemable but not legal tender. Money can be withdrawn at one of many ATMs throughout Austria. Austrian currency is shared with other countries. These countries include Estonia, Germany, Ireland, Latvia, France, Finland, Greece, Belgium, Slovakia, Lithuania, Italy, Cyprus, Holland, and Malta. The type of currency used in Austria has changed many times. It is often dependent upon the political standings at the time. It is important that travelers know the exchange rate of currency.

Here are some common currencies for Austria.

  • Commemorative Coins: The euro is available in the form of coins and banknotes. The coins are available in varying denominations. One, two, five, 10, 20, and 50 cents make up those denominations. The coins have unique symbols of famous people and architectural empires.
  • Austrian Krone: This currency was common during the Austro-Hungarian Empire era. The krone was minted from the metals gold and silver. Available in denominations of 10, 20, 200, and 1,000. The krone phased out and became obsolete prior to the introduction of the schilling.
  • Austrian Schilling: This exchange currency was replaced by the existing one. Around 13 schillings equals one euro. It was represented by the symbol ATS and was in circulation from 1924 to 1938. It would return to circulation in 1954 and last until 2002 when the euro was introduced.
  • Euro: The current currency in Austria. The inflation rate is 2 percent and is recognized as second largest to the U.S. dollar in reserve currency. The European Central Bank issues it.