70 Heller Nachrichten

Austrian Notgeld from the postwar inflation period, issued by the local newspaper rather than the municipality itself — an unusual arrangement that made the Mödlinger Nachrichten both the issuing authority and, effectively, the advertising vehicle. Newspaper-issued Notgeld is uncommon even within the already eccentric taxonomy of Austrian emergency currency, and Mödling's decision to route the issue through the press rather than the Stadtamt is not fully explained in surviving administrative records.

The 1920 Notgeld wave in Lower Austria was driven by a severe coin shortage, not hyperinflation proper — that came later. These notes were intended for genuine small-change transactions, not speculation.