This listing is for the photographed 1950 Austria National Bank 10 Shillings Note. This note was a first issue in this series, as it does not have the phrase "2. Auflage" (2nd Edition) printed below the block number on the reverse side of the note. Obverse of this note depicts a rider of the Spanish riding school, with the Hofburg in the back. Reverse shows the Belvedere Palace in Vienna with a beautifully ornamented border. Very Fine (VF) grade / condition. Excellent piece of history, great addition to any collection! P#127 (Pick Number 127).
After World War II, Austria faced significant economic challenges, including hyperinflation and the need for reconstruction. The Austrian National Bank (Oesterreichische Nationalbank, or OeNB) resumed its role as the central bank after the war, taking responsibility for stabilizing the currency and issuing banknotes. In 1947, the Austrian government carried out a currency reform to address hyperinflation and stabilize the economy, introducing the "new shilling" as the primary Austrian currency. In the post-war decades, the Austrian National Bank issued a series of banknotes with improved designs and security features. The themes of the banknotes reflected Austria's rich cultural and historical heritage, featuring prominent figures such as Mozart, Empress Maria Theresa, and Sigmund Freud, as well as architectural landmarks. Austria joined the European Union in 1995 and became a founding member of the Eurozone in 1999. The Austrian National Bank ceased issuing Schilling banknotes as Austria adopted the euro as its official currency.
This note provides excellent insight into the economic history of Austria in the aftermath of World War 2.
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1950 Austria 10 Shillings Note - First Issue - Riding School Issue - VF Grade - 1950 Austrian National Bank Ten Shilling Note - P#127