50 Heller

Hundsberg is a small municipality in Upper Austria, and this 50 Heller note is a product of the Notgeld wave that swept rural Austria between 1919 and 1921. The collapse of the Habsburg monetary system left small communities effectively without usable small change — banks couldn't supply it, so villages printed their own. Ortsgemeinde Hundsberg was one of hundreds to do exactly that, issuing locally authorized scrip under the signature of a municipal official, here recorded as Breitschopf Adolf.

The Jaksch/Pick reference places this in the documented series, but survival rates for rural Austrian Notgeld vary considerably — collector demand drove secondary print runs in some cases, muddying the line between genuine circulation issues and philatelic production.