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| 正面描述 | The left half of the note carries a letterpress vignette of a large multi-storey civic building rendered in fine line work, enclosed within a double-ruled frame with continuous scroll ornament border. To the right, the issuer inscription 'Stadt Gmunden' appears in bold serif type at the top, below which the validity clause and the large bold numeral '5' are separated by horizontal rule lines above and below the denomination 'HELLER' in bold capitals. The lower right panel bears the anti-counterfeiting warning and the facsimile mayoral signature of DR. KRACKOWIZER. |
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| 正面铭文 | Stadt Gmunden Gültig bis auf öffentl. kundgem. Widerruf 5 HELLER Die Nachahmung wird strenge bestraft. Der Bürgermeister: DR. KRACKOWIZER. |
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Gmunden's 1920 Heller notgeld belongs to the final wave of Austrian municipal emergency currency, issued as the new republic struggled to maintain coin circulation in the wake of the imperial collapse. Gmunden, a resort town on the Traunsee, was hardly an economic powerhouse, yet like hundreds of Austrian municipalities it was authorized to produce its own fractional notes to fill the vacuum left by hoarded metal coinage.
The Krackowizer signature almost certainly belongs to Ernst Krackowizer, a local civic figure. Series iv within the Jaksc classification indicates this is one of multiple design variants the city issued — collecting the complete Gmunden run requires tracking down each separately.