50 Heller Etsdorf

Etsdorf am Kamp is a small wine-producing village in Lower Austria, and like hundreds of comparable municipalities in 1920, it was forced to print its own fractional currency because the postwar coin shortage had made small change effectively nonexistent. These locally issued Heller notes — collectively known as Notgeld — were authorized under Austrian emergency provisions and redeemable in theory, though the redemption window was often narrow and poorly publicized.

Municipal Notgeld from villages this small was frequently printed in very limited runs, sometimes by a local printer with no specialist banknote experience.