10 øre Holla Sparebank

Holla Sparebank was a small savings institution serving the Holla municipality in Telemark, and like dozens of Norwegian local banks during the German occupation, it resorted to printing low-denomination token notes when coin circulation collapsed in 1940–41. Metal was being systematically drained from the occupied economy, and subsidiary coinage effectively disappeared from everyday commerce within months of the April 1940 invasion.

Oluf Rasmussens Trykkeri in Skien handled the printing — a local press solution for a local problem. The HGE catalogue suffix "d" indicates this is one of several known variants within the K.94 type, likely distinguished by a serial range, paper batch, or minor typographic difference.