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"Babenberger | 1000 ATS | Gold Coin" marked for sale.
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With the 1000 Schilling Babenberger coin, a Schilling gold coin was minted for the first time in the Second Republic of Austria in 1976. Affectionately known as the "golden thousand", this bullion coin is still very present on the market today thanks to its high mintage.
When issued, the Babenberg coin had a nominal value of ATS 1,000 and was considered legal tender. Since the introduction of the euro in 2002, its market value has been measured by its fineness. The fineness 900 corresponds to 21.6 carats. The market value of Babenberg gold coins is never based on their face value. Depending on the exchange rate, the gold value of the Babenberg is a few hundred euros, while the face value translates into a value of about 72€. This corresponds approximately to the value of two ATS 500 silver coins.
The coin was issued on the occasion of the thousandth anniversary of the establishment of the Babenbergs. This family of margraves and dukes, originating from Upper Franconia, is considered the founding dynasty of Austria. They ruled from 976 to 1246.
The Austrian Ministry of Finance also intended to supplement the already existing mintings of the trade gold coins - ducats, florins and crowns - with a modern bullion coin. Thus, the 1,000 shilling federal gold coin may well be considered the predecessor of the Vienna Philharmonic can be regarded as a predecessor.
From October 22, 1976, the coins could be purchased at all Austrian banks and savings banks. Only a short time later, a second tranche was put on the market to satisfy the great demand. The coins from this reminting can be recognized by their slightly reddish hue, which has its origin in the changed surface treatment of the coins. A total of 1.8 million pieces were issued.
The obverse of the coin features the equestrian seal of Duke Frederick II, inscribed with "976 - 1976 Installation of the Babenbergs". The reverse shows the Austrian federal eagle framed by the words "Republic of Austria". Below this is the two-line denomination. The edge of the coin is fluted and not inscribed.
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