| |||||
| Unit | |||||
| Symbol | Fl.(in Latin), Ft.(in Hungarian), злр.(in Ukrainian) | ||||
| Denominations | |||||
| Subunit | |||||
| 1⁄60(to 1857) 1⁄100(after) | kreuzer | ||||
| Banknotes | 1, 5, 10, 50, 100, 1,000 gulden | ||||
| Coins | 5⁄10, 1, 4, 5, 10, 20 kreuzer;1⁄4, 1, 2, 4, 8 gulden; 1, 2 Vereinsthaler (1+1⁄2 Fl., 3 Fl.) | ||||
| Demographics | |||||
| Date of withdrawal | 1892 | ||||
| Replaced by | Austro-Hungarian krone | ||||
| User(s) | Austria-Hungary,Principality of Montenegro | ||||
| Issuance | |||||
| Central bank | Austro-Hungarian Bank | ||||
| This infobox shows the latest status before this currency was rendered obsolete. | |||||
TheAustro-Hungarian gulden (German), also known as theflorin (German &Croatian),forint (Hungarian;Croatian:forinta), orzloty (Polish:złoty reński;Czech:zlatý;Ukrainian:золотий ринський), was thecurrency of thelands of theHouse of Habsburg between 1754 and 1892 (known as theAustrian Empire from 1804 to 1867 and theAustro-Hungarian Monarchy after 1867), when it was replaced by theAustro-Hungarian krone as part of the introduction of thegold standard. InAustria, the gulden was initially divided into 60 kreuzers (German; Hungarian:krajczár; Croatian:krajcar; Czech:krejcar; Polish:krajcar; Ukrainian:ґрайцар). The currency wasdecimalized in 1857, using the same names for the unit and subunit.
The nameGulden was used on pre-1867Austrianbanknotes and on theGerman language side of the post-1867 banknotes. In southern Germany, the wordGulden was the standard word for a major currency unit. After 1867 Austrian coins used the nameFlorin. "Florin" is derived from the city ofFlorence,Italy where the firstflorins were minted, from 1252 to 1533.
The gulden first emerged as a common currency of theHoly Roman Empire after the 1524Reichsmünzordnung in the form of theGuldengroschen.[1][2] In the succeeding centuries the gulden was then defined as a fraction of theReichsthaler specie or silver coin.
As of 1690 the gulden used in Southern Germany and theHabsburg monarchy adhered to the Leipzig standard, with the gulden worth1⁄18 of aCologne Mark of fine silver or1⁄2 of aReichsthaler specie coin, or 12.992 g per gulden. Below is a history (in terms of grams of silver) of the standards of the Austro-Hungarian gulden from 1690 until the gold standard was introduced in 1892.[1][3] A comparison with the lower-valuedSouth German gulden is also included. The course of value of the gulden before 1618 is found underReichsthaler.
| Standard | South German gulden | metal | Austrian gulden | metal | Subunit (Austria) | Selected other coins (Austria) |
|---|---|---|---|---|---|---|
| 1690:Reichsthaler = 2 Fl. | 12.992 g | silver | 12.992 g | silver | ||
| 1741: goldCarolin = 9 Fl. | 0.68 g | gold | 0.83 g | gold | ||
| 1753:Conventionsthaler = 2 Fl. | 9.744 g | silver | 11.693 g | silver | 60 kreuzer | Pfenig (4 pfenige = 1 kreuzer) Groschen (= 3 kreuzer) Ducat (gold, =4.5 gulden in 1856)[4] |
| 1857:Vereinsthaler = 1.5 Fl. | 9.524 g | silver | 11.111 g | silver | 100 (neu-)kreuzer | Krone (gold, = 13.8 gulden in 1858)[4] |
| 1892: Austria introduces krone (1 gulden = 2 kronen, gold–silver ratio 18.2) | 100⁄328 g | gold | 100heller (German)/ fillér (Hungarian) | |||
The gulden departed from the Leipzig standard in the 1730s when the gold to silver price ratio dropped from 15 to 14.5, prompting several states to reissue their gulden in cheaper gold. The Austro-Hungarian gulden then departed from its South German counterpart after it valued theCarolin d'or of 7.51 g fine gold at 9 Austrian gulden, versus 11 gulden in Southern Germany. This made the Austrian gulden worth7.51 ÷ 9 = 0.834 g fine gold, or0.834 × 14.5 = 12.1 g fine silver.
As Austria was the leading state of theHoly Roman Empire, it initiated the currency convention of 1754 in which theConventionsthaler replaced thereichsthaler specie as the standard currency of the Holy Roman Empire. TheGulden was defined as half of a Conventionsthaler, equivalent to1⁄20 of aCologne mark ofsilver, or 11.6928 g. TheSouth German gulden was set lower at 24 guldens perCologne mark of silver, or 2.4 guldens per Conventionsthaler, or 9.744 g. TheNorth GermanReichsthaler currency unit was then defined as1+1⁄2 Gulden or3⁄4 Conventionsthaler, or 17.5392 g. Following the winding up of the Holy Roman Empire in 1806, the Gulden became the standard unit of account in the Habsburg lands and remained so until 1892. The gulden was subdivided in 60kreuzer, each of 4pfennig or 8heller.
In 1857, theVereinsthaler was introduced across theGerman Confederation and Austria-Hungary, with a silver content of16+2⁄3grams. This was slightly less than1+1⁄2 times the silver content of the Gulden. Consequently, Austria-Hungary adopted a new standard for the gulden, containing two-thirds as much silver as the Vereinsthaler, or11+1⁄9 g. This involved adebasement of the currency of 4.97%. Austria-Hungary alsodecimalized at the same time, resulting in a new currency system of 100 kreuzer = 1 gulden and1+1⁄2 gulden = 1Vereinsthaler.[4]
In 1892 the Austro-Hungarian gulden was replaced by thekrone, with each krone containing100⁄328 grams of gold, at a rate of 1 gulden = 2 kronen (gold–silver ratio 18.2).
In 1946 theHungarian forint (magyar forint) was reintroduced and remains the officialcurrency inHungary.
Copper coins were initially issued in denominations of 1heller (1⁄8 kreuzer) up to 1 kreuzer, with silver coins in denominations from 3 kreuzers up to 1 Conventionsthaler. The Turkish and Napoleonic Wars led to token issues in various denominations. These included a 12 kreuzer coin which only contained 6 kreuzers worth of silver and was later overstruck to produce a 7 kreutzer coin. In 1807, copper coins were issued in denominations of 15 and 30 kreuzers by the Wiener Stadt Banco. These issues were tied in value to the bank's paper money (see below). The coinage returned to its prewar state after 1814.
When the gulden was decimalized in 1857, new coins were issued in denominations of1⁄2 (actually written5⁄10), 1 and 4 kreuzers in copper, with silver coins of 5, 10, and 20 kreuzers,1⁄4, 1 and 2 gulden and 1 and 2 Vereinsthaler and gold coins of 4 and 8 gulden (or 10- and 20 francs). Vereinsthaler issues ceased in 1867.
Following the forint's introduction, Hungary issued relatively few coins compared to Austria, but the Kingdom of Hungary started minting its own gold forints in 1329.[5] The only copper coin was apoltura worth1+1⁄2 krajczár, whilst there were silver 3-, 5-, 10-, 20-, and 30-krajczár and1⁄2 and 1 Conventionsthaler coins. All issues ceased in 1794 and did not resume until 1830, when silver coins of 20 krajczár and above were issued. Only in 1868, following theAustro-Hungarian Compromise of 1867, did a full issue of coins for Hungary begin. Denominations were fewer than in Austria, with copper1⁄2, 1 and 4 krajczár, silver 10 and 20 krajczár and 1 forint, and gold 4- and 8 forints.
| Examples of Austrian 10 gulden notes |
|---|
| 1841 |
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| 1854 |
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| 1863 |
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Between 1759 and 1811, theWiener Stadt Banco issued paper money denominated in gulden. However, the banknotes were not tied to the coinage and their values floated relative to one another. Although the notes did have a slight premium over coins early on, in later years, the notes fell in value relative to the coins until their value was fixed in 1811 at one fifth of their face value in coins. That year, thePriviligirte Vereinigte Einlösungs und Tilgungs Deputation ("Privileged United Redemption and Repayment Deputation") began issuing paper money valued at par with the coinage, followed by the "Austrian National Note Bank" in 1816 and the "Privileged Austrian National Bank" between 1825 and 1863. In 1858, new notes were issued denominated in "Austrian Currency" rather than "Convention Currency".
From 1866, theK. K. Staats Central Casse ("Imperial and Royal State Central Cashier") issued banknotes, followed from 1881 by theK. K. Reichs Central Casse which issued the last Gulden banknotes, dated 1888.
The banknotes afterAustro-Hungarian Compromise of 1867 that were issued by theAustro-Hungarian Bank had their value that was guaranteed withgold as enacted in the Banking Act. State notes were issued by the treasury and had no such cover.
| Banknotes after theAusgleich | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Dimensions | Description | Date of | ||||
| Obverse | Reverse | Obverse | Reverse | printing | issue | withdrawal | ||
 |  | 10 Fl. | 132 × 89 mm | Female models | 1 May 1880 | 3 January 1881 | 28 February 1903 | |
 |  | 100 Fl. | 153 × 107 mm | Allegoric figures | 31 October 1881 | 30 April 1904 | ||
 |  | 1,000 Fl. | 180 × 126 mm | Young female models | ||||
| State notes after theAusgleich | ||||||||
 |  | 1 Fl. | 71 × 112 mm | Franz Joseph I of Austria | 1 January 1882 | 6 October 1882 | 30 June 1890 | |
 |  | 68 × 105 mm | Franz Joseph I of Austria and child angel | 1 July 1888 | 13 July 1889 | |||
 |  | 5 Fl. | 136 × 92 mm | Franz Joseph I of Austria and female models | 1 January 1881 | 1 October 1881 | 28 February 1903 | |
 |  | 50 Fl. | 170 × 110 mm | Franz Joseph I of Austria and allegoric composition | 1 January 1884 | 23 May 1884 | ||
| These images are to scale at 0.7 pixel per millimetre. For table standards, see thebanknote specification table. | ||||||||
