10 Heller

Lausa bei Losenstein is a small parish in Upper Austria, and this Heller note is a product of the acute small-change shortage that swept Austria in 1920–1921 following the collapse of the Habsburg monetary system. Hundreds of rural municipalities — Gemeinden — printed their own Notgeld when coins simply stopped circulating in sufficient quantity. Most were issued in tiny print runs, redeemed locally within months, and never made it into broader circulation.

Parish-level Austrian Notgeld of this type was typically printed by regional jobbing printers, often on whatever paper stock was available.