
The Austro-Hungarian gulden was the official currency of the Austro-Hungarian Empire from 1892 to 1918.
It was introduced in 1892 as a replacement for the Austrian and Hungarian florin, with a fixed exchange rate of 1 gulden to 2 florins.
The gulden was subdivided into 100 groschen, with coins and banknotes issued in various denominations.
The Austro-Hungarian gulden was pegged to the gold standard in 1892, with a gold content of 0.1867 troy ounces per gulden.
The empire's currency was used in both Austria and Hungary, with the gulden becoming a widely accepted currency in the region.
History of the Austro-Hungarian Gulden
The Austro-Hungarian gulden was introduced in 1892 as a replacement for the Austrian and Hungarian florin. It was a single currency for both countries, a significant change from their previous systems.
The gulden was subdivided into 100 groschen, with coins available in denominations from 1 to 100 groschen. The gulden was pegged to the gold standard, with a fixed exchange rate to gold.
In 1914, the Austro-Hungarian gulden was replaced by the Austro-Hungarian krone, but it continued to circulate as a subsidiary currency.
Introduction to the Gulden
The Gulden, also known as the Florin, was the official currency of the Austro-Hungarian Empire from 1754 to 1892.
It was introduced to replace the Thaler, which was the dominant currency in the region at the time.
The Gulden was subdivided into 100 Kreuzer, with coins ranging from 1 to 10 Kreuzer in circulation.
The first Gulden coins were minted in 1754, featuring the portrait of Emperor Francis I.
The Gulden remained a stable currency throughout the 18th and 19th centuries, with its value pegged to the German gold standard.
The introduction of the Gulden marked a significant shift in the monetary policy of the Austro-Hungarian Empire, with a focus on standardization and uniformity.
Timeline of the Gulden's Use
The Austro-Hungarian Gulden was introduced in 1754 as a replacement for the Thaler, which was the previous currency used in the region. It was initially pegged to the value of the silver Thaler.
The Gulden was first divided into 240 Kreuzer, with each Kreuzer further subdivided into 4 Pfennig. This division remained in place until the currency was reformed in 1892.
In 1857, the Austro-Hungarian Gulden was reformed and its value was pegged to the gold standard. This change had a significant impact on the economy and trade in the region.
The Gulden remained in circulation until the end of World War I, when it was replaced by the new Austrian and Hungarian currencies.
Austro-Hungarian Gulden in Hungary
The Austro-Hungarian gulden was the official currency of Hungary during the Austro-Hungarian Empire. It was divided into 100 groschen.
In Hungary, the gulden was widely used from 1892 to 1918. The currency was pegged to the Austrian krone at a rate of 1 gulden to 1.5 kronen.
The gulden was introduced to replace the Hungarian forint, which had been in use since 1848. The gulden was also used in other parts of the empire, including Austria, Bohemia, and Dalmatia.
Paper Currency
Paper currency in the Austro-Hungarian gulden era was a complex system with multiple issuers. The Wiener Stadt Banco issued paper money denominated in gulden between 1759 and 1811, but their values floated relative to each other.
The Priviligirte Vereinigte Einlösungs und Tilgungs Deputation issued paper money valued at par with the coinage in 1811, followed by the Austrian National Note Bank in 1816 and the Privileged Austrian National Bank between 1825 and 1863.
The banknotes issued by the Austro-Hungarian Bank after the Austro-Hungarian Compromise of 1867 had their value guaranteed with gold, as enacted in the Banking Act. State notes, on the other hand, had no such cover.
Here are some key dates and dimensions of the banknotes issued after the Ausgleich:
Types of Paper Money
Paper money has been around for centuries, and its value has fluctuated over time. In the 18th and 19th centuries, the Wiener Stadt Banco issued paper money denominated in gulden, but its value floated relative to coins.
Between 1759 and 1811, the banknotes had a slight premium over coins, but later they fell in value. In 1811, the Priviligirte Vereinigte Einlösungs und Tilgungs Deputation fixed the value of the notes at one fifth of their face value in coins.

The Austro-Hungarian Bank issued banknotes after the Austro-Hungarian Compromise of 1867, and their value was guaranteed with gold. State notes, on the other hand, had no such guarantee.
The Austro-Hungarian Bank issued several denominations of banknotes, including the 10, 100, and 1,000 florin notes. These notes had different dimensions and designs, with the 10 florin note featuring female models and the 100 florin note featuring allegoric figures.
The state notes issued after the Ausgleich were also denominated in florins, but they had different designs and were not guaranteed with gold. The 1 florin note, for example, featured a portrait of Franz Joseph I of Austria, while the 5 florin note featured a portrait of the emperor and female models.
Here's a list of some of the paper money denominations issued by the Austro-Hungarian Bank and the state:
- 10 florin note: 132 × 89 mm, female models, issued May 1, 1880, withdrawn February 28, 1903
- 100 florin note: 153 × 107 mm, allegoric figures, issued October 31, 1881, withdrawn April 30, 1904
- 1,000 florin note: 180 × 126 mm, young female models
- 1 florin note: 71 × 112 mm, portrait of Franz Joseph I of Austria, issued January 1, 1882, withdrawn June 30, 1890
- 5 florin note: 136 × 92 mm, portrait of Franz Joseph I of Austria and female models, issued January 1, 1881, withdrawn February 28, 1903
Security Features
Paper currency has several security features to prevent counterfeiting.
Many countries use watermarks to make their paper currency harder to fake. These watermarks are usually made of a thin transparent material that is woven into the paper itself.

Security threads are another common feature found in paper currency. These threads can be made of a variety of materials, including plastic or metal, and are designed to be difficult to remove or replicate.
Some paper currencies also have holograms, which are three-dimensional images that appear to shift and change as you move the currency. These holograms can be very convincing and are often used to add an extra layer of security.
The use of color-shifting ink is another security feature found in some paper currencies. This ink appears to change color depending on the angle of the light, making it difficult to reproduce.
Many countries also use microprinting to add security features to their paper currency. This involves printing tiny text or images that can only be seen under magnification.
Sources
- https://en.wikipedia.org/wiki/Austro-Hungarian_gulden
- https://en.wikipedia.org/wiki/Coins_of_the_Austro-Hungarian_gulden
- https://istranumizmatika.bidinside.com/en/lot/4380/austria-austro-hungarian-empire-franz-/
- https://theorangefiles.hu/the-austro-hungarian-monarchy/
- https://www.dema-coins.com/2023/08/florin-coin-Austro-Hungarian-Empire.html
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