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| 正面描述 | The obverse is divided into two panels: the left panel contains a square vignette of the municipal coat of arms beneath the date 1920, surrounded by a decorative border, with a historical commemorative text below in German script referencing the 400th anniversary of the market charter granted by Emperor Ferdinand I. The right panel carries the denomination '50 Heller' flanked on both sides, a central oval vignette of a church with a steeple set in a landscape, and the issuer inscription 'Markt-Verwaltung Kematen bei Wels' in bold Gothic lettering at the base. The heading 'Jubiläums-Notgeld' appears at the top right in ornate script, with the validity date and two facsimile signatures below the central vignette. |
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| 正面铭文 | 登录 以查看详情 |
| 背面描述 | The reverse is printed entirely in black Gothic script on a plain light ground, enclosed within a decorative rectangular border of repeating foliate ornament. The text sets out the legal basis for the note's issuance and pledges the full assets of the market municipality as guarantee for redemption; a warning against counterfeiting appears in a separate paragraph, followed by the title 'Der Marktverwalter' and a handwritten facsimile signature. |
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Austrian municipal notgeld from the immediate postwar inflationary period, when the central government's inability to supply sufficient coinage left hundreds of small communities printing their own fractional currency. Kematen bei Wels, a small Upper Austrian market town, issued these notes under the emergency powers that effectively devolved monetary necessity to the local level. The legal basis for such issues was always ambiguous — tolerated rather than formally authorized.
Most Upper Austrian notgeld of this vintage was redeemed and destroyed within a few years, making survivors more a function of collector hoarding at the time than of any official preservation effort.