75 Heller

Hargelsberg is a village in Upper Austria with a population that barely exceeded a few hundred in 1920 — which makes the municipal decision to print notgeld entirely unremarkable in the Austrian context but worth noting in scale. The postwar collapse of the Austro-Hungarian monetary system left small communes unable to obtain adequate coin, and the authority to issue emergency scrip devolved to even the most minor Ortsgemeinden under arrangements that were improvised rather than legislated with any precision.

Bürgermeister Josef Edlmaier's signature here carries full municipal authority for the issue — and full municipal liability, which for a village this size was not an insignificant commitment.