Babenberger | 1000 ATS | gold coin

First Schilling gold coin of the Second Republic of Austria

The 1000 schilling Babenberg coin was the first schilling gold coin minted in the Second Republic of Austria in 1976. Affectionately known as the "golden thousand", this bullion coin is still very popular on the market today thanks to its high mintage.

When it was 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. A fineness of 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 several hundred euros, while the face value translates into a value of around €72. This corresponds approximately to the value of two ATS 500 silver coins.

Reason for minting

The coin was issued on the occasion of the thousandth anniversary of the establishment of the Babenberg dynasty. This family of margraves and dukes from Upper Franconia is regarded as the founding dynasty of Austria. They ruled from 976 to 1246.

The Austrian Ministry of Finance also intended to add a modern bullion coin to the already existing restrikes of the commercial gold coins - ducats, florins and crowns. The 1,000 schilling federal gold coin can therefore be regarded as the predecessor of the Vienna Philharmonic can be regarded as the predecessor of the Vienna Philharmonic.

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 brought onto the market in order to satisfy the great demand. The coins from this restrike can be recognized by their slightly reddish hue, which originates from the altered surface treatment of the coins. A total of 1.8 million coins were issued.

Design of the coin

The obverse of the coin shows the equestrian seal of Duke Frederick II, which is inscribed with "976 - 1976 Einsetzung der Babenberger". 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 ribbed and not inscribed.