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Republic of Austria, 25 Schilling 1931

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Republic of Austria, 25 Schilling 1931 (obverse) Republic of Austria, 25 Schilling 1931 (reverse)

The First World War (1914-1918) was a deep cut in the history of Austria. The former heart of the Hapsburg Empire, and the powerful half of the Dual Monarchy of Austria-Hungary, collapsed in the course of the war. In 1918, Hungary declared its independence; Emperor Charles I resigned from all official duties, and the First Republic of Austria (until 1938) was declared. On 1 January 1925, the schilling was introduced in Austria as legal tender. It was based on the gold standard and, after the war, intended to be a symbol of consolidation. However, the Austrian government tried to maintain the continuity of the currency by issuing well-known denominations. Gold coins were given out with face values of 25 and 100 schillings denominations that had been popular in the old kronen currency already. The new golden schilling coins even looked like the old gold kronen, with the same double-headed eagle on the obverse and the denomination between two laurel branches on the reverse.

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