The first gold Schilling coin of the Second Republic of Austria
A gold Schilling coin was minted for the first time in the Second Republic of Austria with the 1000 Schilling Babenberger coin. Also lovingly referred to as the "Golden thousand", this investment coin is still very much present on the market today thanks to its high circulation number.
The value of the 1000 Schilling gold coin
The Babenberger coin had a face value of 1,000 ATS upon issue and was considered as a legal form of payment. Their market value has been measured by fineness since the introduction of the Euro in 2002. The fineness of 900 corresponds to 21.6 carats.
Motive for minting
The coin was issued on the occasion of the one-thousand year anniversary of the establishment of the House of Babenberg. This margrave and ducal family, originating from Upper Franconia, is regarded as the founding family of Austria. They ruled from 976 to 1246.
The Austrian Ministry of Finance also intended to supplement the gold trading coins already re-minted - ducats, florin and crowns - with a modern investment coin. The 1,000 Schilling federal gold coin can therefore be considered as the predecessor of the Vienna Philharmonic.
The coins were acquired by all Austrian banks and savings institutions from 22nd October 1976. A second instalment was launched on the market only a short time later in order to satisfy the large demand. The coins from this re-minting feature a slightly reddish hue, which originates from the modified surface treatment. 1.8 million coins were launched.
The image of Duke Friedrich II is depicted on the front side of the coin, which is outlined with “976 - 1976 Einsetzung der Babenberger” (976 - 1976 - Establishment of the House of Babenberg). The federal eagle of Austria is shown on the rear side, which is framed with the inscription "Republik Österreich" (Republic of Austria). The two-line denomination value is shown underneath. The edge of the coin is grooved and not inscribed.
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At a glance:
Name: 1000 Schilling Babenberger coin
Manufacturer: Münze Österreich AG (Austrian Mint)
Year of minting: 1976
Fineness: 900/1000 gold (90% gold), 10% copper
Face value: 1000 Schilling
Type: Investment coin made of gold
|Front side||Back side|