5 Gulden

The Wiener Stadt Banco was not a central bank in any modern sense — it was a municipal credit institution founded in 1706, originally to manage Vienna's civic debt. By the 1790s it had become the primary issuer of paper money for the Habsburg territories, a role it was never formally designed to hold. The French Revolutionary Wars were draining imperial finances at an accelerating rate, and note production expanded sharply through this decade.

The 1794 date places this squarely in the period before the catastrophic inflation of the Napoleonic years, which eventually forced the Bankzettel into a state-managed devaluation in 1811 — a 20% redemption rate that wiped out holders who had trusted the paper.