Austrian 1000 Schilling

What more fitting commemoration can one imagine than minting a gold coin with a face value of Austrian 1000 Schilling? That was in the year 1976 when the Babenberg Dynasty of Austria crossed the 1000th year of the commencement of its dynasty.

The design of the coin:

The coin is beautifully designed by the renowned Martha Coufal Hartl with the Austrian Royal Eagle with a sickle and hammer in its talon. On the bottom of the eagle the face value of the coin, namely, Schilling 1000 is depicted. The word ‘Austrian Republic’ in Austrian language is written on the top of the eagle. Interestingly, while one side of the coin is designed by Martha Coufal Hartl, the other side of the coin is designed by Gertrude Simon, yet another renowned designer.

The side of the coin designed by Simon depicts a knight on horseback with a pennant in his hand. This is a commemoration of the Babenberg Dynasty perhaps in the early part of its dynasty. On the top of the knight is written ‘976 – 1976 EINSETZUNG DER BABENBERGER’ indicating the long travel this dynasty had in these 1000 years. History says that the Babenberg Dynasty ruled Austria during the period 976 to 1248 AD and later the House of Habsburg took over the reins of the country. The coin with 0.3906 troy ounce of gold has 90% purity.

Apart from this, the Austrian mint has also brought out other gold coins with Schilling 1000 face value with other distinct designs. It is also minting gold bullion coins weighing half ounce with Schilling 1000 face value.

What is unique about Austrian Gold and Bullion?

People prefer the Austrian Gold coins because they are a proof of purity (they are claimed to be 90% pure). Further, these coins are small in size and therefore easy to trade. According to the law prevailing, those who buy gold coins from European countries are not required to reveal their Social Security number. However, it is advised that those who want to claim tax rebate for purchase of these gold coins should consult their tax adviser and find out the applicability of tax law.

Legal position:

According to financial and legal experts, some countries have restrictions on the holding of these gold coins. For example, in USA, the Government can confiscate excess gold but the coins which have antique value are exempt from confiscation. Therefore, get the clear legal position on holding these gold coins from a competent authority.