1 Krone

The Austro-Hungarian Bank issued this 1 Krone note in 1916 as the monarchy's wartime finances buckled under sustained military expenditure. Paper shortages and the collapse of normal banking operations meant small-denomination notes increasingly substituted for coinage, which had been systematically withdrawn from circulation for its metal content.

P#20 is among the more common survivors of the series, partly because the volume printed was enormous and partly because the denomination was too low to hoard deliberately. The 1922 Austrian currency reform rendered the entire krone series void.