20 Heller Ebelsberg

Ebelsberg was a small town on the Traun River south of Linz — today absorbed into the city — that issued its own notgeld during the Austrian economic crisis following World War One. Like hundreds of other Austrian municipalities in 1920, it printed small-denomination emergency scrip to compensate for a chronic shortage of coins, which had effectively vanished from circulation as metal hoarding accelerated with postwar inflation.

The Jaksch/Pick reference places this within the well-documented Austrian notgeld corpus, but Ebelsberg issues are not among the more frequently encountered municipal pieces from Upper Austria.