40 Heller Hochfilzen in Tirol

Hochfilzen is a small village in the Pillersee Valley, and its decision to issue notgeld in 1919 was entirely practical — the postwar collapse of Austrian banking infrastructure left rural municipalities without small change, and printing locally through Wagner in Innsbruck was the fastest solution available to dozens of Tyrolean communities simultaneously.

Wagner produced notgeld for numerous Tyrolean municipalities during this period, which means the printing quality is consistent but the notes are rarely rare in an absolute sense. Hochfilzen's issues attract collectors primarily as part of complete Tyrolean notgeld runs rather than as standalone pieces.