5 Kronen Salzburg

Austrian municipal notgeld from 1920 occupies a peculiar administrative space — these were not banknotes in any formal sense, but emergency fractional currency issued by local authorities filling a vacuum left by the collapse of Habsburg monetary infrastructure. Stadt Salzburg was among the more prolific issuers, and R. Kiesel was the obvious local choice, a Salzburg printing house that handled much of the city's commercial and municipal print work.

Dr. Preis served as Bürgermeister during a genuinely difficult transitional period — Salzburg had only formally become part of the new Austrian Republic in 1920, and the city briefly agitated for annexation to Bavaria before that option was foreclosed by the peace settlement.