Value today of 1939 Austrian Kroner

Austria-Hungary joined the Convention of Germanic Monetary union on January 24, 1857 issuing Monetary Union Gulden (XATG), then withdrew in 1867, but continued to issue Gulden (ATG). Austria-Hungary linked its currency to the Latin Monetary Union on March 9, 1870, though it was not a formal member of the Union. When Austria-Hungary moved to the Gold Standard on August 2, 1892, they replaced the Gulden with the Krone (ATK) with 2 Kronen equal to 1 Gulden. The Krone was divisible into 100 Heller.

When Austria became a republic after World War I, it continued to use the Krone. Post-war inflation led to the collapse of the Krone, and the Schilling (ATO) replaced the Krone at the rate of 10,000 Kronen equal 1 Schilling. When Austria was annexed by Germany, the German Reichsmark (DER) replaced the Austrian Schilling, and the Austrian Schilling ceased to be legal tender on April 25, 1938. When the Allies liberated Austria, an Allied Military Schilling (ATM) was issued.

The Schilling was reintroduced in December 1945, and people were allowed to convert Reichmarks into the new Schillings at par. The Post-war Schilling was introduced on December 4, 1947. Debts without limit and banknotes up to 150 Schillings were converted at par, but additional financial assets were converted at the rate of 1 new Schilling (ATS) equal to 3 old Schillings.

Austria adopted the Euro (EUR) as its currency on January 1, 1999 at the rate of 1 Euro equals 13.7603 Schillings. Euro banknotes began circulating in Austria on January 1, 2002, and the Austrian Schilling ceased to be legal tender in Austria on February 28, 2002. The Schilling was divisible into 100 Groschen and the Euro is divisible into 100 Cents.