The Russian Revolution in 1917 led to the rise of the Soviet Union. The First Austrian Republic was created in 1919. Was Austria a communist state ? A daring statement. Let us have a look at Austria's coat of arms illustrated on the following bond.
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| 4% Austrian lottery bond of 200 Krone, 1920 |
Now check the emblem of the Soviet Union. It is depicted on the following government loan. Do you see the similarities ?
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| USSR internal loan of the second five-year plan, 25 Rouble, 1935 This rare bond was auctioned by HWPH on 15 Oct 2016 together with a similar looking certificate, for €4,000 courtesy HWPH |
That's right, the Austrian eagle holds in its claws a hammer and a sickle, the main attributes of the soviet shield. Austria introduced its new shield in 1919 when it became a republic. Before that, Austria's coat of arms looked different as you can see here.
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| 200 Krone bond from the 8th Austrian War Loan, 1918 design by Alfred Offner in Vienna Secession style |
Till the end of World War I, Austria was part of the Austro-Hungarian Empire, the Dual Monarchy. That's why we see a double-headed eagle on the previous bond.
After WWI Austria decided to change the looks of its eagle. Its sword and scepter was replaced with a sickle, its orb with a hammer. Up to the present, the Republic of Austria has been using that shield on government bonds but also on banknotes and coins.
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| above : 20 Shilling banknote, 1986, shield in upper left corner below : 10 Shilling coin, 1974, by Awmcphee (Own work) [CC0], via Wikimedia Commons |
The key question remains why Austria started using a hammer and a sickle in its shield ? Was it about communism ? I found the answer in a newsletter from CoinsWeekly/MünzenWoche which referred to THIS INTRIGUING VIDEO (5 min.) from the MoneyMuseum. Enjoy watching!
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