The Austrian National Bank (OeNB) published a centenary note on the introduction of the Schilling on 1 March 1925, linking the currency reform to the step-by-step restoration of confidence after Austria’s hyperinflation and marking the near-simultaneous move into its new headquarters in Vienna. The OeNB recalls that the Schilling reform was enabled by the Schilling Accounting Act adopted on 20 December 1924, which set a conversion rate of 10,000 crowns to 1 schilling following a League of Nations support credit tied to wide-ranging economic consolidation. It also notes the opening of the bank’s main building at Otto-Wagner-Platz on 22 March 1925 and the issuance of the first Schilling banknote, the 100 schilling note, on 26 March 1925. To conclude the anniversary year, the OeNB will host two special exhibitions: from summer, the Money Museum will present a longer-running exhibition on 100 years of the Schilling, followed in autumn by a multi-week exhibition in the OeNB’s cash hall, titled “1925 – Aufbruch in eine neue Zeit”, which will also be open to the public for a limited period.
Austrian National Bank (OeNB) 2025-02-28
Austrian National Bank commemorates 100 years since the Schilling currency reform and previews anniversary exhibitions
The Austrian National Bank (OeNB) commemorates the centenary of the Schilling's introduction on 1 March 1925, highlighting its role in restoring confidence post-hyperinflation and the move to its new Vienna headquarters. The Schilling reform, facilitated by the Schilling Accounting Act and a League of Nations credit, set a conversion rate of 10,000 crowns to 1 schilling. To mark the anniversary, the OeNB will host exhibitions on the Schilling's history at the Money Museum and its cash hall.