This coin has had a rough century (a bit like the Austro Hungarian Empire). I would grade in VG8, but that might be a bit generous.
*Correction: This is a Hungarian, or an AustroHungarian coin, rather than belonging solely to Austria. I cataloged it incorrectly in the title (but have left it that way so that this correction makes sense). Please see the comments for more information.
On the obverse, it shows the bust of Franz Joseph I of Austria facing to the right and wearing a laurel wreath. The legend wraps from 7:00 to 5:00 and reads “Ferencz Jozsef I * K * A * CS * ES M * H * S * D * O * AP * KIR.”
On the reverse, an Austrian crown is surrounded by an upturned wreath. The crown has a crooked cross on top (canted 45 degrees to the left) and strange ear straps hanging down. The denomination is under the crown and above the wreath “1 Korona” with the date below.
Identification code: Austria KM-2820, minted from 1912-1916
Mint Mark: n/a (“K.B.” under the bust are the designer’s initials)
Mintage: 23,000,000 (the largest mintage of this series)
Country of origin: Austria
Composition: 83.5% Silver
Size: 22 mm
Weight: 5g (0.1342 oz ASW)
Other details: Unlike other Austrian coins from 1915 (specifically the 1915 gold ducats), the silver bullion issues were not reminted in later years without changing the date. So, the 23M mintage figure is firm.
Estimated Value: $4-5 with silver at ~$33/oz