20 Heller Werfen

Werfen is a small market town in the Salzach valley, and like hundreds of Austrian municipalities in 1920, it issued its own small-denomination emergency currency — Notgeld — to address the catastrophic coin shortage that followed the collapse of the Habsburg monetary system. The 20 Heller was among the most commonly needed denominations for everyday transactions, which likely explains the unusually high print run of over twelve million pieces for a community of this size.

That figure suggests Werfen's notes circulated well beyond its own district, a common outcome when neighboring towns failed to produce sufficient quantities of their own issues.