10 Heller Klagenfurt

This is Notgeld — emergency municipal scrip issued when small-denomination coinage vanished from circulation following the collapse of the Austro-Hungarian Empire. Klagenfurt, suddenly the capital of the newly constituted Austrian state of Carinthia, was simultaneously managing a currency crisis and a territorial one: Yugoslav forces had occupied parts of the region, and a plebiscite to determine Carinthia's future would not be held until October 1920.

The Guilloche underprint, a basic anti-counterfeiting measure borrowed from conventional banknote printing, was applied locally — modest security for a note that was never intended to circulate beyond the city limits.