50 Heller Grafenschlag

Grafenschlag is a small village in Lower Austria, and like hundreds of other rural municipalities during the postwar economic collapse, it issued its own emergency currency — Notgeld — when the central supply of small coins dried up entirely. The 50 Heller denomination placed this note squarely in the everyday transactions tier: bread, postage, minor market purchases.

Austrian municipal Notgeld of this period was printed in enormous variety, often locally or through regional print shops, with quality ranging widely. The JPR catalog reference places this firmly within the Jaksch documentation of Lower Austrian issues.