50 Heller Pöchlarn

Pöchlarn is a small market town on the Danube in Lower Austria, best known as the birthplace of the painter Oskar Kokoschka and, more obliquely, as the legendary site of Bechelaren in the Nibelungenlied. This 50 Heller note was issued under Austria's Notgeld system, which proliferated after 1914 when hoarding of metallic coinage created acute small-change shortages across the empire and, later, the young republic.

Municipal Notgeld from towns of this size was produced in short runs, often by local printers, and redemption periods were strictly limited — notes unredeemed by the closing date became worthless, which paradoxically ensured collector survival rates sometimes exceeded circulation survival rates.