5 øre Holla Sparebank

Holla Sparebank was a small Norwegian savings institution serving the Holla municipality in Telemark. The 1941 date puts this squarely in the German occupation period, when disrupted supply chains and a shortage of Riksbank coin prompted numerous local Norwegian institutions — savings banks, cooperatives, municipalities — to issue small-denomination emergency notes. The Occupying authorities tolerated this practice rather than suppress it, as the alternative was commercial paralysis at the retail level.

Oluf Rasmussens Trykkeri in Skien was a regional printer with no specialized security printing infrastructure, which is exactly what you'd expect from an emergency issue of this kind. Forgery resistance was not the point; filling a gap in the fractional coin supply was.