10 Heller Pabneukirchen

Pabneukirchen is a small market town in Upper Austria, and this note is a product of the Notgeld crisis that forced hundreds of Austrian municipalities to print their own small-denomination emergency money between 1919 and 1921. The central government's coin shortage after the collapse of the Habsburg economy left local commerce essentially paralyzed at the low end, and market towns like Pabneukirchen had little choice but to fill the gap themselves.

Priezel & Stehr operated out of Steyr — itself only about 40 kilometers west — making this a genuinely local production rather than one of the many Austrian Notgeld pieces farmed out to Vienna printers. The countersignatures of both the Bürgermeister and Vizebürgermeister were required to validate each note.