20 Heller Oed

Oed is a small market town in Lower Austria, and this 20 Heller note is a product of the Notgeld wave that swept Austrian municipalities between 1920 and 1921 — a direct consequence of the postwar currency collapse that left ordinary commerce starved of small-denomination coinage. Local bodies were legally permitted to issue their own emergency scrip to fill the gap, and hundreds did. F. Kielac of Amstetten was a regional printer who handled several such commissions in the district. Oskar Reitinger designed the piece, one of the more locally documented contributors to Lower Austrian Notgeld production.