20 Kreuzers - Francis Joseph I

These coins were struck in the immediate aftermath of the Ausgleich of 1867, which restructured the Habsburg empire into the dual Austro-Hungarian monarchy. The .500 fineness was a deliberate reduction from earlier silver standards, reflecting the fiscal strain Austria-Hungary carried out of its catastrophic defeat by Prussia at Königgrätz the previous year. The treasury needed coinage but could not afford full-silver issues.

The series was short-lived by design — Austria-Hungary adopted decimal coinage in 1857 and was steadily phasing out the Kreuzer denominations entirely by the early 1870s.