20 Heller Prägarten

Prägarten is a small Upper Austrian municipality, and this 20 Heller note is a product of the Notgeld wave that swept Austrian communes from 1919 onward — local governments printing their own emergency fractional currency to address the near-total disappearance of small coins from circulation after the war. E. Prickel was a Steyr-based printer responsible for several such municipal issues in the region, working on modest runs with limited typographic ambition.

Josef Peyerl's signature as authorizing official ties the note to local municipal governance rather than any banking institution.