20 Heller Stein an der Donau

Stein an der Donau was an independent municipality when this note was issued — it wasn't formally merged with neighboring Krems until 1938. The 20 Heller denomination belongs to the broader Notgeld phenomenon that swept Austrian and German towns during the postwar inflationary crisis, when small-denomination coinage effectively vanished from circulation. Three municipal signatories were required for validation: the Bürgermeister, the Vizebürgermeister, and the managing council official — an unusually full quorum for a note of such negligible face value.

J. Faber in Krems printed the issue, just a few kilometers from Stein itself.