Discover

The 'Czechoslovak koruna' (in Czech and Slovak: ''Koruna československá'', at times ''Koruna česko-slovenská''; ''koruna'' means ''crown'') was the currency of Czechoslovakia from April 10, 1919 to March 14, 1939 and from November 1, 1945 to February 7, 1993. For a very short time in 1939 and 1993 it was also the currency in both of separate Czech and Slovak republics.
On February 8, 1993 it was replaced by the Czech koruna and the Slovak koruna, both at par.
The (last) ISO 4217 code and the local acronyms for the koruna were ''CSK'' and ''Kčs''. One koruna equaled 100 ''haléřů'' (Czech, singular: ''haléř'') or ''halierov'' (Slovak, singular: ''halier''). In both languages, the abbreviation ''h'' was used. The acronym was placed behind the numeric value.

Contents

First koruna

Second koruna

Coins

Third koruna

Coins

Banknotes

Consumer price index

See also

Reference

First koruna

A currency called the ''krone'' in German was introduced in Austria-Hungary on 11 September, 1892, as the first modern gold-based currency in the area. After the creation of an independent Czechoslovakia in 1918, an urgent need emerged for the establishment of a new currency system that would distinguish itself from the currencies of the other newly born countries suffering from inflation. The next year, on 10 April, 1919, a currency reform took place, defining the new ''koruna'' as equal in value to the Austro-Hungarian krone. The first banknotes came into circulation the same year, the coins three years later, in 1922.
This first koruna circulated until 1939, when separate currencies for Bohemia and Moravia and Slovakia were introduced, at par with the Czechoslovak koruna. These were the Bohemia and Moravia koruna and the Slovak koruna.
Coins were issued in denominations of 2, 5, 10, 20, 25 and 50h, 1, 5, 10 and 20 korun. The first banknotes were issues of the Austro-Hungarian Bank to which adhesive stamps were affixed. Denominations were of 10, 20, 50, 100 and 1000 korun. Regular banknotes were issued by the Republic of Czechoslovakia between 1919 and 1926, when the Czechoslovak National Bank took over production. Denominations issued were 1, 5, 10, 20, 50, 100, 500, 1000 and 5000 korun.

Second koruna

The Czechoslovak koruna was reestablished in 1945, replacing the two previous currencies at par. As a consequence of the war, the currency had lost much of its value.
Coins were issued in denominations of 20 and 50h, 1 and 2 koruny. Two kinds of banknotes were issued for the second koruna. The first were issues of Bohemia and Moravia and Slovakia to which adhesive stamps were affixed. Denominations issued were 100, 500 and 1000 korun. The rest were regular notes issued in the name of the Republic of Czechoslovakia and the Czechoslovak National Bank. Denominations were of 1, 5, 10, 20, 50, 100, 500, 1000, 2000 and 5000 korun.

Coins

After the Second World War the interwar 20 h, 50 h and 1 Kčs coins were introduced again (first using copper alloys, later cheaper aluminium). The 2 Kčs coin was a new design; interwar 5 Kčs coins were minted but not reintroduced.

1946-1953 Issues
Image		Value	Technical parameters			Description			Date of
Obverse	Reverse		Diameter	Mass	Composition	Edge	Obverse	Reverse	first minting	issue	withdrawal
		20 h	18 mm	2.5 g	Brass 92% copper 8% zinc	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ"[1], year of minting	Indication of value, ears of wheat, sickle	1947	29 May 1948	31 May 1953
		20 h	16 mm	0.5 g	98% aluminium 2% magnesium	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, ears of wheat, sickle	1951	22 October 1951	31 May 1953
		50 h	20 mm	3 g	Brass 92% copper 8% zinc	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, ears of wheat, branches with leaves	1947	25 March 1947	31 May 1953
		50 h	18 mm	0.6 g	98% aluminium 2% magnesium	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, ears of wheat, branches with leaves	1951	1 September 1951	31 May 1953
		1 Kčs	21 mm	4.5 g	Cupronickel 80% copper 20% nickel	Milled		Indication of value, woman with ears of wheat and sickle	1946	25 April 1946
		1 Kčs		1.3 g	98% aluminium 2% magnesium				1947	17 March 1950
		2 Kčs	23.5 mm	6 g	Cupronickel 80% copper 20% nickel			Indication of value, Juraj Jánošík		27 May 1947
		5 Kčs		?	98% aluminium 2% magnesium			Indication of value, factory	1951	never	-

Third koruna

The koruna went through a number of further reforms. A particularly drastic one was undertaken in 1953. At that time, the Communist Party of Czechoslovakia had to deal with the fact that there was a double market in the country: a fixed market ensuring basic food availability - a remnant of the post war quota system, and a free market, in which goods were as much as eight times more expensive but of a higher quality. They decided to declare a currency reform valid from 1 June, 1953, and to distribute new banknotes printed in the USSR. The reform had been prepared very quickly and was confidential up to the last minute, but some information leaked anyway, causing a lot of panic among people. The night before the deadline, the president of Czechoslovakia Antonín Zápotocký made a radio speech, in which he strictly denied any possibility of a reform and quieted down the inhabitants, though he had to know that he was lying to the nation. The next day, people (that were lucky enough not to fit into the category of "capitalistic elements", a pejorative category to which the intelligence agency used to blacklist certain individuals) were allowed to change up to 1500 old korun for new korun at the rate of 5 old to 1 new koruna and the rest at the rate of 50 to 1. All insurance stock, state obligations and other commercial papers were nullified. The economic situation of many people got worse insofar as many petitions and demonstrations broke out, the largest of which took place in Plzeň, where 472 people were arrested.
In 1993, in accordance with the dissolution of the Czechoslovak federation, the Czechoslovak koruna split into two independent currencies - the Slovak koruna and the Czech koruna. Both currencies will be replaced by the Euro as quickly as their respective countries can meet the criteria for economic convergence with the rest of the European Union.

Coins

After the 1953 currency reform a new series of coins were introduced. Coins were first issued in denominations of 1, 3, 5, 10, 25 h - the 1, 3 and 5 Kčs denominations only existed as paper money (state notes). The haler coins dated 1953 were all minted in Leningrad. The 1, 3 and 5 Kčs state notes were replaced by coins in 1957, 1965 and 1966, respectively. The 50 h coin appeared in 1963. In 1972 the 25 h and 3 Kčs coins were withdrawn, and - form 1972 - 20 h (as part of the new series) and 2 Kčs coins were introduced instead. The 3 h coin was withdrawn in 1976. A redesigned series of haler coins was released into circulation during the 1970s.
Until 1960 the "Republika Československá" inscription was used with the republic Coat of arms on the coins. The strikes from 1961 onwards beared the new socialist-style coat of arms along with the inscription: "Československá Socialistická Republika".
3 and 5 korun coins were introduced in 1965 and 1966, respectively, with 20h and 2 koruny coins added in 1972. 10 korun coins were introduced in 1990.

1953-1990 Issues
Image		Value	Technical parameters			Description			Date of
Obverse	Reverse		Diameter	Mass	Composition	Edge	Obverse	Reverse	first minting	issue	withdrawal
		1 h	16 mm	0.5 g	96.65% aluminium 3% magnesium 0.35% manganese	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, wreath of leafage, five-pointed star	1953	1 June 1953	?
		1 h	16 mm	0.5 g	96.65% aluminium 3% magnesium 0.35% manganese	Smooth	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA"[2], year of minting	Indication of value, wreath of leafage, five-pointed star	1962	2 May 1962	?
		3 h	18 mm	0.66 g	96.65% aluminium 3% magnesium 0.35% manganese	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, wreath of leafage, five-pointed star	1953	1 June 1953	31 January 1976
		3 h	18 mm	0.66 g	96.65% aluminium 3% magnesium 0.35% manganese	Smooth	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, wreath of leafage, five-pointed star	1962	1 December 1962	31 January 1976
		5 h	20 mm	0.8 g	96.65% aluminium 3% magnesium 0.35% manganese	Smooth	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, wreath of leafage, five-pointed star	1953	1 June 1953	31 December 1978
		5 h	20 mm	0.8 g	96.65% aluminium 3% magnesium 0.35% manganese	Smooth	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, wreath of leafage, five-pointed star	1962	1 December 1962	31 December 1978
		5 h	16.2 mm	0.75 g	98% aluminium 2% magnesium	Smooth	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, five-pointed star	1977	1 July 1977	?
		10 h	22 mm	1.18 g	96.65% aluminium 3% magnesium 0.35% manganese	Milled	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, wreath of leafage, five-pointed star	1953	1 June 1953	31 December 1977
		10 h	22 mm	1.18 g	96.65% aluminium 3% magnesium 0.35% manganese	Milled	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, wreath of leafage, five-pointed star	1961	1 December 1961	31 December 1977
		10 h	18.2 mm	0.9 g	98% aluminium 2% magnesium	Smooth	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, five-pointed star	1974	1 December 1974	?
		20 h	19.5 mm	2.6 g	Brass 79% copper 20% zinc 1% nickel	Milled	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, five-pointed star	1972	1 October 1972	?
		25 h	24 mm	1.43 g	96.65% aluminium 3% magnesium 0.35% manganese	Milled	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, wreath of leafage, five-pointed star	1953	1 June 1953	31 December 1972
		25 h	24 mm	1.43 g	96.65% aluminium 3% magnesium 0.35% manganese	Milled	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, wreath of leafage, five-pointed star	1962	1 December 1962	31 December 1972
		50 h	21.5 mm	3.0 g	Brass 90% copper 10% zinc	Milled	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, wreath of leafage, five-pointed star	1963	1 April 1963	31 December 1979
		50 h	20.8 mm	3.2 g	Cupronickel 80% copper 20% nickel	Milled	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, five-pointed star	1978	2 October 1978	?
		1 Kčs	23 mm	4 g	Aluminium bronze 91% copper 8% aluminium 1% manganese	Milled	Coat of arms, "REPUBLIKA ČESKOSLOVENSKÁ", year of minting	Indication of value, planting women	1957	2 September 1957	?
		1 Kčs	23 mm	4.0 g	Aluminium bronze 91% copper 8% aluminium 1% manganese	Milled	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, planting women	1961	1 December 1961	?
		2 Kčs	24 mm	6.0 g	Cupronickel 80% copper 20% nickel	Ornaments	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, abstract pattern with five-pointed star and hammer and sickle	1972	1 October 1972	?
		3 Kčs	23.5 mm	5.5 g	Cupronickel 80% copper 20% nickel	Ornaments	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, pattern with flower and ribbon of national colours	1965	1 November 1965	31 December 1972
		5 Kčs	26 mm	7 g	Cupronickel 80% copper 20% nickel	Ornaments	Socialist coat of arms, "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA", year of minting	Indication of value, abstract pattern with flower and cranes, five-pointed star	1966	1 August 1966	?

Source:

★ Zberatelský katalóg mincí Československa, Biľak, M. - Jízdný, M., , , Československá Numizmatická Spoločnosť, Pobočka Košice, 1988, ISBN ?

Banknotes

The first banknotes of the third korun were issued by the People's Republic in denominations of 1, 3 and 5 korun (state notes) and by the State Bank in denominations of 10, 25, 50 and 100 korun (banknotes). From 1958, new 25, 10, 100 and finally 50 Kčs banknotes were designed, and the state notes were gradually replaced by coins during the 1960s. The 20 Kčs banknote was printed from 1970 to replace the 25 Kčs note. The 500 Kčs banknote appeared in 1973. Starting with the 1000 Kčs banknote in 1985, a new, more uniform series (designer: Albín Brunovský) was issued adding a new denomination each year. This process was interrupted by the fall of the communism (and finally by the dissolution of the country): the new 100 Kčs note issued in 1989 depicted Klement Gottwald, a prominent communist and was speedily withdrawn after the Velvet Revolution. A new 500 Kčs banknote was never issued.

1958 Series
Image		Value	Dimensions	Main Colour	Language	Description		Date of
Obverse	Reverse					Obverse	Reverse	printing	issue	withdrawal
		25 Kčs	140 x 69 mm	Blue	Czech and Slovak	Jan Žižka	The Jan Žižka Square in Tábor	1958	1 December 1958	31 December 1972
1960-1964 Series
		3 Kčs	113 x 55 mm	Blue	Slovak and Czech	Indication of value	Coat of arms	1961	1 December 1961	31 December 1967
		5 Kčs	123 x 59 mm	Green	Czech and Slovak	Indication of value	Coat of arms	1961	1 December 1961	31 December 1967
		10 Kčs	134 x 65 mm	Brown	Slovak	Girls with flowers	View of the Orava reservoir	1960	1 December 1961	30 June 1988
		25 Kčs	140 x 69 mm	Blue	Czech and Slovak	Jan Žižka	The Jan Žižka Square in Tábor	1961	2 May 1962	31 December 1972
		50 Kčs	150 x 75 mm	Red	Slovak	A Russian soldier and a partisan	The Slovnaft refinery in Bratislava	1964	1 April 1965	30 June 1991
		100 Kčs	165 x 81 mm	Green	Czech	Peasant couple	View of Prague with the castle and the Charles Bridge	1961	1 December 1962	7 February 1993
1970-1973 Series
		20 Kčs	134 x 59 mm	Blue	Czech	Jan Žižka	Imitation of a codex illustration	1970	1 April 1971	30 June 1991
		500 Kčs	153 x 67 mm	Brown	Slovak	Partisans of the SNP 1944	Devín Castle	1973	1 November 1973	7 February 1993
1985-1989 Series
		10 Kčs	133 x 67 mm	Brown	Slovak	Pavol Országh-Hviezdoslav	Orava scene	1986	1 July 1986	7 February 1993
		20 Kčs	138 x 67 mm	Blue	Czech	Comenius	Illustration related to culture and education	1988	1 October 1988	7 February 1993
		50 Kčs	143 x 67 mm	Red	Slovak	Ľudovít Štúr	View of Bratislava with the castle (from the restaurant on the top of the pylon of the Nový Most)	1987	1 October 1987	7 February 1993
		100 Kčs	148 x 67 mm	Green	Czech	Klement Gottwald	View of Prague with the castle and the Charles Bridge	1989	1 October 1989	31 December 1990
		1000 Kčs	158 x 67 mm	Blue	Czech	Bedřich Smetana	View of the Vltava at Vyšehrad	1985	1 October 1985	7 February 1993

Consumer price index

Consumer price index

Year	CPI
1980	2.9
1981	0.8
1982	5.1
1983	0.9
1984	0.5
1985	2.7
1986	0.5
1987	0.1
1988	0.2
1989	1.4
1990	10.0
1991	57.9

See also

★ Czech koruna

★ Slovak koruna

★ Bohemian and Moravian koruna

Reference

1. "REPUBLIKA ČESKOSLOVENSKÁ" = "Republic of Czechoslovakia"
2. "ČESKOSLOVENSKÁ SOCIALISTICKÁ REPUBLIKA" = "Czechoslovak Socialist Republic"