25 Gulden

The Oesterreichische National Zettel Bank was established in 1816 specifically to address the catastrophic inflation that followed the Banco-Zettel collapse and the state bankruptcy of 1811 — the Finanz-Patent of that year had devalued the old Wiener Stadtbankο notes to one-fifth of face value, wiping out savings across the Habsburg lands. This 25 Gulden note belongs to the bank's founding emission, issued as Austria attempted to restore any credible convertibility to its paper currency.

The denomination itself is telling. Twenty-five Gulden was a large sum for 1816, suggesting these circulated primarily in commercial rather than retail transactions.