Issued on July 1, 1762, by the Vienna Municipal Bank ( Wiener Stadt Banco ). Initially, they were interest-free state bonds rather than true banknotes, but they could be used to pay taxes.
The first paper money in our territory appeared during the reign of . Papierove peniaze na uzemi Ceskoslovenska 1762-...
In 1892, the gold-based crown currency was introduced, which remained in use until the collapse of the monarchy. 2. The First Czechoslovak Republic (1918–1939) Issued on July 1, 1762, by the Vienna
The first official banknotes were issued in 1919. Some of the most beautiful designs from this era were created by world-renowned artists like Alfons Mucha and Max Švabinský . 3. World War II & Post-War Period (1939–1953) In 1892, the gold-based crown currency was introduced,
The first issues were in values of 5, 10, 25, 50, and 100 gulden. A 5-gulden note roughly represented the monthly living expenses for a family of four at the time.
During the Napoleonic Wars, massive printing led to high inflation, resulting in the Austrian State Bankruptcy of 1811 , where paper money was devalued to one-fifth of its face value.
The history of paper money in the territory of the former Czechoslovakia began long before the state was founded in 1918. It spans from the first "bankocetle" issued by the Habsburg Monarchy to the modern currencies of the Czech Republic and Slovakia. 1. The Era of the Habsburg Monarchy (1762–1918)