50 Heller Palting-Perwang

Austrian municipal notgeld at its most local: Palting-Perwang is a small community in the Innviertel district of Upper Austria, and like hundreds of similarly sized parishes, it printed its own emergency small change during the coin shortage that followed the collapse of the Habsburg monarchy. The Innviertel had only been definitively Austrian since 1779, and the region retained a distinct identity — though that had no bearing on the practical problem of 1920, which was simply that low-denomination coins had vanished from circulation entirely.

Bürgermeister R. Voggenberger's signature here is the only accountability mechanism on the note. Municipal issues of this type carried no backing guarantee from Vienna.