20 Kronen Danube State

The Österreichische Klassenlotterie was not a bank but a state lottery authority, and these Kronen-denominated lottery bonds occupied a legal grey zone between notgeld, savings instruments, and outright gambling tickets. Issued through the early 1920s inflation period and continuing into the 1930s, they reflect a fiscally desperate Austrian state extracting revenue through participation schemes rather than conventional taxation or borrowing.

The extended issue window — running past the 1925 Schilling conversion — means Kronen-denominated examples from the later years had essentially no meaningful face value by the time they were printed.