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100 Gulden
| Issuer | Privilegirte Vereinigte Einlösungs- und Tilgungs-Deputation |
|---|---|
| Year | 1811 |
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| Value | Log in to see details |
| Currency | Gulden (1816-1892) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Einlösungs-Schein von Hundert Gulden dd. Wien den 1ten März 1811. Die vereinigte Einlösungs und Tilgungs Deputation Hundert Gul. Száz forint Sto złatych Sto Rýnských |
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| Variants | P#A49a - Issued note. Rare P#A49b - "Formulare" |
| Comments |
The Privilegirte Vereinigte Einlösungs- und Tilgungs-Deputation was not a bank in any conventional sense — it was a state instrument created specifically to manage Austria's catastrophic monetary collapse following the Napoleonic wars. By 1811, the Habsburg state had inflated its Bankozettel currency so severely that the Finance Patent of 20 February that year mandated a forced exchange: old notes would be redeemed at one-fifth face value in new Einlösungsscheine.
This 100 Gulden note is a product of that devaluation mechanism. Holders of the old paper effectively absorbed an 80% haircut overnight — one of the harshest peacetime monetary write-downs in European history to that point.