50 Heller Kreisbach

Kreisbach is a small village in Lower Austria, and like hundreds of similarly sized communities, it issued Notgeld during the post-WWI currency crisis when the new Austrian state could not supply enough small-denomination coinage to meet everyday commercial needs. The Gemeinde series from this period was entirely a local stopgap — accepted at the village level, redeemable in theory, and often never redeemed at all, which is how so many survive in uncirculated condition while the issuing municipality has no surviving records of the redemption process.

The Jaksc catalogue reference places this firmly within the documented Lower Austrian municipal issues, though print runs for Kreisbach specifically were never formally published.