100 Gulden

The Privilegirte Vereinigte Einlösungs- und Tilgungs-Deputation was not a bank in any conventional sense — it was a state instrument created specifically to manage Austria's catastrophic monetary collapse following the Napoleonic wars. By 1811, the Habsburg state had inflated its Bankozettel currency so severely that the Finance Patent of 20 February that year mandated a forced exchange: old notes would be redeemed at one-fifth face value in new Einlösungsscheine.

This 100 Gulden note is a product of that devaluation mechanism. Holders of the old paper effectively absorbed an 80% haircut overnight — one of the harshest peacetime monetary write-downs in European history to that point.