Crossword Genius

Produce notes, pocketing cool money in Austria once (9)

Ross

I believe the answer is:

schilling

I'm a little stuck... Click here to teach me more about this clue!

'money in austria once' is the definition.
I can't judge whether this definition defines the answer.

'produce notes pocketing cool' is the wordplay.
'produce notes' becomes 'sing' (I've seen this in other clues).
'pocketing' means one lot of letters goes inside another.
'cool' becomes 'chill' (similar in meaning).
'sing' placed around 'chill' is 'SCHILLING'.

Can you help me to learn more?

(Other definitions for schilling that I've seen before include "Money not around any more!" , "Old Austrian currency" , "Formerly the basic unit of money in Austria" , "Old Viennese piece" .)

I've seen this clue in The Telegraph.
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