The Austria-Hungary empire came into existence in 1867, and lasted until 1918, when it was broken up as a result of World War I. The history of the empire is somewhat convoluted and you can read more about it here and here.
This coin was issued in 1868, and it's a 1-heller, which is the lowest denomination they produced, I believe. It is the first coin from the 1800s to appear in the OFEC collection, but it is not the last.
It probably IS however the lowest grade, as it is worn nearly smooth on the obverse, and the reverse is so badly worn that I had miscredited as an 1858 issue- before Austria-Hungary existed as we know it! However, it is the only coin I have for the combined Austria-Hungary empire, so, it must be the example used in this rundown.
Originally the obverse would have had the dual-headed eagle that was a standard feature of Habsburg coinage.