25 øre Holla Sparebank

Holla Sparebank was a small savings bank serving the Holla municipality in Telemark. During the German occupation of Norway, the disruption to normal coin supply prompted numerous local institutions — savings banks, municipalities, and cooperative societies — to issue their own small-denomination emergency notes. This 25 øre piece is part of that broader wartime phenomenon, printed locally by Oluf Rasmussens Trykkeri in Skien, the regional center for Telemark.

The HGE catalogue (Hoel, Gjølberg, Eidem) documents several varieties for this issuer across the occupation years, the suffix "e" indicating this is the fifth recorded variant — differences typically involving paper stock, ink shade, or minor typographic changes between print runs.