50 Heller Eferding

Eferding is one of the oldest market towns in Upper Austria, and like hundreds of small Austrian municipalities, it resorted to issuing its own emergency paper money — Notgeld — after the collapse of the Habsburg monetary system left the country chronically short of small-denomination coinage. The Stadtgemeinde authorized this 50 Heller note in 1920, relatively late in the Austrian Notgeld wave, when most larger cities had already begun winding down their local issues.

The printer, Reklame "Puka" of Linz, was a commercial advertising firm that took on municipal Notgeld commissions as a sideline — not a specialist security printer. The designer credit to L. Haase Jun. suggests a locally sourced commission rather than a stock design.