75 Heller

One of thousands of Austrian municipal Notgeld issues from the postwar inflation period, when the collapse of the Habsburg currency system left local governments — including tiny alpine communes — printing their own emergency fractional notes to cover the chronic shortage of small-denomination coinage. Bruck im Pinzgau, a village in the Salzach valley beneath the Hohe Tauern, had neither the population nor the commercial infrastructure to sustain normal monetary circulation in 1920.

Bürgermeister Anton Posch's signature carries the legal authority here — Austrian municipal Notgeld was only valid by local ordinance, not imperial or republican decree.