25 Heller

Penking is a small rural commune in Upper Austria, and like hundreds of similarly sized municipalities across Austria between 1920 and 1922, it issued its own emergency small-change notes — Notgeld — to compensate for the near-total disappearance of coins from circulation. The postwar coinage shortage was severe enough that even villages with no meaningful commercial infrastructure were printing their own scrip.

The Jaksc catalog treats these Upper Austrian municipal issues with granular specificity precisely because local printing quality, authorization signatures, and paper stock varied so widely between communes. Edlmaier's signature as issuing authority places this squarely within the standard municipal council authorization framework of the period.

Penking's issues are among the less-documented in the series — surviving examples turn up rarely in dealer stock.