10 Heller Raxendorf

Raxendorf is a small municipality in Lower Austria, and this 10 Heller note is a product of the Notgeld wave that swept Austrian towns between 1919 and 1921. The collapse of the Austro-Hungarian monetary system left local governments scrambling to cover a crippling shortage of small change — the national treasury simply could not mint coins fast enough to meet demand, so thousands of municipalities printed their own emergency fractional currency.

Willy Pollhammer and Franz Karl signed as local officials authorizing issue. Whether Pollhammer was the Bürgermeister or a municipal treasurer is not confirmed in standard references.