20 Heller Lochen

Lochen is a small market commune in Upper Austria, and like hundreds of comparable municipalities it resorted to printing its own Notgeld in the early 1920s when small-denomination coinage essentially vanished from circulation. The 20 Heller denomination sits at the lower end of the emergency money spectrum — practical pocket change, not a collector issue, though the Notgeld craze of 1920–1922 eventually blurred that line considerably.

J. Moser in nearby Braunau am Inn handled the printing, a local commercial job rather than anything involving a specialist banknote printer. Single authorizing signature from Anglberger, almost certainly the Bürgermeister at the time.