20 Heller Amstetten

Austrian municipal notgeld of this type emerged from a very specific supply failure: the central government could not produce enough small-denomination coinage after the war, so hundreds of towns printed their own emergency pfennig and heller notes under implicit official tolerance. Amstetten's issue was printed locally by C. Queiser, a small regional press — exactly the kind of arrangement that produced enormous variation in quality across the notgeld corpus. By 1920 the heller was already sliding toward irrelevance as postwar inflation accelerated, meaning many of these circulated only briefly before the denomination itself became worthless.