80 Heller Pupping

Pupping is a small municipality in Upper Austria, and like hundreds of similar communities it issued emergency paper money — Notgeld — during the economic chaos that followed Austria-Hungary's collapse. The 80 Heller denomination is an odd choice, since most Notgeld issues gravitated toward rounder values; it suggests the municipality was trying to fill a very specific gap in local small change rather than simply participating in what had by 1920 become something of a collector-driven industry.

The watermarked paper on a note of this scale and issuer is worth noting — many comparable rural Notgeld were printed on plain stock with no security feature whatsoever.