75 Heller Schwaz

Schwaz, a silver-mining town in the Tirol that had once been among the largest cities in the Habsburg lands, issued this Notgeld during the catastrophic inflation that followed Austria's post-war economic collapse. These small municipal emergency notes proliferated across Austria and Germany between 1919 and 1922 precisely because the central government could not keep denominations in circulation fast enough to match currency devaluation. Schwaz's series was printed by Waner in Innsbruck, a regional firm that handled a substantial volume of Tirolean Notgeld during this period.

The 75 Heller denomination is an odd one — not a round figure, which suggests it was calculated to fill a specific gap in local transactional change rather than issued as part of a tidy set.