The Austro-Hungarian Krone: A Comprehensive Guide

Author

Reads 13.1K

Banknote in Close Up
Credit: pexels.com, Banknote in Close Up

The Austro-Hungarian Krone was the official currency of the Austro-Hungarian Empire from 1892 to 1918.

It was subdivided into 100 groschen, with coins ranging from 1 to 10 groschen and banknotes from 1 to 100 kronen.

The krone replaced the gulden and florin, which were the previous currencies of Austria and Hungary.

The Austro-Hungarian Krone was pegged to the gold standard, with a gold content of 0.186773 grams per krone.

Austro-Hungarian Krone

The Austro-Hungarian Krone was introduced in 1892 as the Empire's new currency, replacing the earlier attempts at introducing a standardized currency. It was set at 2 kronen = 1 gulden and consisted of 100 Heller (Austria) or Fillér (Hungary).

All Austro-Hungarian krone banknotes were bilingual, featuring both German and Hungarian text. The value was indicated in eight other languages, including Czech, Polish, Croatian, Slovene, Serbian, Italian, Ruthenen (Ukrainian), and Romanian.

Here's a breakdown of the different series of Austro-Hungarian krone banknotes:

The Austro-Hungarian Empire's banknotes were watermarked with the Roman numeral "X", indicating the value of 10 kronen.

Introduction

Credit: youtube.com, 1894 - Austro-Hungarian Empire 🇦🇹🇭🇺 1 Krone #shorts

The Austro-Hungarian Empire had a long history of trying to adopt the gold standard before finally succeeding in 1892. The plan was drawn up by Hungarian Minister of Finance Sándor Wekerle.

The new currency, the Krone, was introduced and consisted of 100 Heller (Austria) or Fillér (Hungary).

The value of the Krone was set at a specific rate, with 2 kronen equal to 1 gulden.

History

The Austro-Hungarian Krone was introduced in 1892 as the currency of the Austro-Hungarian Empire.

The Krone replaced the Gulden, which had been the currency of the Empire since 1754. The Gulden was subdivided into 360 Kreuzer, but the Krone was subdivided into 100 Heller.

The Krone was pegged to the gold standard, with a fixed exchange rate of 2.5 Krone to 1 gram of gold. This peg was maintained until 1907, when the Empire abandoned the gold standard.

The Krone was widely used in the Austro-Hungarian Empire, with coins and banknotes issued by the Imperial Bank of Austria and the Hungarian National Bank.

Banknotes

Credit: youtube.com, Banknotes of Austria Hungary

The Austro-Hungarian krone had a wide range of banknotes, each with its own unique characteristics.

The first series of banknotes, introduced in 1900, featured bilingual (German and Hungarian) text and values indicated in eight other languages. The dimensions of these banknotes varied from 121×80mm to 191×127mm.

The 1900-1902 series included banknotes with values of K10, K20, K50, K100, and K1,000. The K10 banknote, for example, had an obverse image of a puttos and was printed from 31 March 1900 to 28 February 1907.

The 1904-1910 series introduced new designs, including a K10 banknote featuring Princess Rohan. These banknotes were printed from 2 January 1904 to 31 December 1918.

The 1912-1915 series saw the introduction of new denominations, including a K10 banknote with a boy model on the obverse. The K20 banknote from this series had a female model on the obverse.

During World War I, the Austro-Hungarian krone issued special "War Series" banknotes, including a K1 banknote with a female model on the obverse. These banknotes were printed in limited quantities.

Here is a list of some of the notable banknotes from the Austro-Hungarian krone series:

  • K10 (1900-1902 series): 121×80mm, puttos on obverse
  • K20 (1900-1902 series): 131×87mm, female model symbolizing Austria on obverse
  • K1 (War Series): 112×67mm, female model on obverse
  • K2 (War Series): 112×67mm, female model on obverse

Frequently Asked Questions

What is the Austro-Hungarian Empire now?

The Austro-Hungarian Empire is now dissolved and its territory is divided among 10 countries in Central and Eastern Europe. Today, its former lands are part of Italy, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Romania, Ukraine, Slovakia, the Czech Republic, and Poland.

Forrest Schumm

Copy Editor

Forrest Schumm is a seasoned copy editor with a deep understanding of the financial sector, particularly in India. His expertise spans a variety of topics, including trade associations, banking institutions, and historical establishments. Forrest's work has shed light on the intricate landscape of Indian banking, from the Indian Banks' Association to the significant 1946 establishments that have shaped the industry.

Love What You Read? Stay Updated!

Join our community for insights, tips, and more.