20 Heller Eberschwang

Eberschwang is a village in Upper Austria with a present-day population well under a thousand. That a municipality this small issued notgeld at all reflects how completely the postwar coin shortage had collapsed ordinary retail commerce — even communities with no meaningful economic infrastructure were forced to print their own emergency fractions. The 12,175,000 figure printed is not a circulation number but the total quantity authorized across the series denominations, a common source of confusion with Austrian municipal notgeld records.

Hosinger's countersignature gives the note its only formal authentication.