This listing is for the photographed 1916 Austria-Hungry 1 Krone Banknote. Printed during World War 1, making it an excellent piece of WW1 Austria-Hungry history. This note has the denomination printed in 8 different languages, making it a very cool designed note. Obverse of this note has a womans head printed on the left and right ends of the note, with the symbol of the messenger god Hermes and medicine, the Caduceus, at the center. Reverse depicts a helmeted warrior's profile at the center. Excellent piece of history, great addition to any collection! P#20 (Pick Number 20).
Austria-Hungary faced severe economic challenges during World War I, which deeply impacted its monetary system, particularly the issuance of banknotes. Before the war, the Austro-Hungarian Bank, a central bank serving both Austria and Hungary, issued the empire’s currency—the Austro-Hungarian krone. Due to an increase in the need for military expenditures, the empire began printing more money to finance the military, leading to hyperinflation. As coinage became limited due to the scarcity of metals in the empire, provisional notes were printed in smaller denominations by both the central and local authorities. By the end of the war, the Austria-Hungarian krone had lost much of its purchasing power, contributing to social unrest and economic instability.
After the empire dissolved in 1918, Austria, Hungary, and other successor states continued to use Austro-Hungarian banknotes for a brief period. Eventually, each country issued its own currency, replacing the krone.
This note is 108 years old this year.
This well-preserved Austria-Hungarian note is a fantastic piece of history and a must have for any collection!
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1916 Austria-Hungry 1 Krone Note - World War 1 Austria-Hungry Note - 8 Languages Issue - 1916 Austria-Hungry One Krone Note - P#20