Following the Carolingian coin reform in 794 AD, new units of account were introduced, including the schilling, which consisted of 12 silver pfennigs.

“emperor's groschen/groat”) was a silver coin worth 12 pfennigs = 3 kreuzers = 2⁄5 schillings.

The schilling was reintroduced after World War II on 30 November 1945 by the Allied Military, who issued paper money (dated 1944) in denominations of 50 groschen, 1, 2, 5, 10, 20, 25, 50, 100, and 1000 schilling.

Following the breakdown of the Bretton Woods system in 1971, the schilling was initially tied to a basket of currencies until July 1976, when it was coupled to the German mark.

Old schilling denominated coins and notes were phased out from circulation because of the introduction of the euro by 28 February of that year.

The 1, 5, 10, and 50 groschen were initially made from leftover blanks from the wartime pfennig issues.

As a result, the composition of the 5 Schilling coins changed from aluminum to silver in the 1950s, which was a highly unusual event.

They were considered legal currency, but were rarely found in actual transactions.

In 1945, the Allies introduced notes (dated 1944) in denominations of 50 groschen, 1, 2, 5, 10, 20, 25, 50, 100 and 1,000 schilling.