20 Heller Oberalm

Oberalm is a small village in Salzburg province, and its decision to issue emergency paper money in 1920 was entirely ordinary for the period — Austria's postwar coin shortage drove hundreds of municipalities to print their own Heller notes between 1919 and 1921 under the Notgeld system. What distinguishes these small community issues from urban ones is the near-total absence of documented print runs, making population estimates essentially impossible.

The 46 × 36 mm format is among the smallest in the Austrian municipal Notgeld series — smaller even than many postage stamps of the era.