10 Heller Kematen an der Krems

Austrian municipal notgeld from the immediate postwar period, when the collapse of the Habsburg monetary system left local governments scrambling to produce their own small-denomination emergency scrip. Kematen an der Krems is a small market commune in Upper Austria; its 1920 issue came well into the notgeld phenomenon, by which point the practice had shifted from genuine emergency necessity toward semi-collectible local production — municipalities were increasingly aware that philatelists and collectors were absorbing these notes before they ever circulated.

Franz Obermazer's signature as issuing authority places administrative responsibility at the commune level, typical of how Upper Austrian municipalities structured these obligations.