1920 Micheldorf Upper Austria 20 Heller Notgeld - Monument Note - Austrian Emergency Currency - 1920 Austria Twenty Heller Note

This listing is for the photographed 1920 Municipality of Micheldorf in Upper Austria 20 Heller Emergency Notgeld. The banknote was used in the Municipality of Micheldorf immediately following World War I as inflation raged through the defeated nation. Most other Austrian localities followed suit, resulting in many varied and specific Austrian "notgeld" from this time. This note expired December 31st, 1920. It features a statue or monument at the forefront of the design on the obverse of this note. Uncirculated (UNC) grade/condition, crisp note! Excellent piece of history with a rarer denomination and composition! Perfect addition to any collection!

Emergency money printed in Germany and Austria immediately after WWI is widely known as "notgeld". The two countries experienced extreme periods of inflation and economic turmoil after their loss in WWI, resulting in municipalities, towns, and state-owned firms to issue their own emergency currencies. The notgeld would be issued with an expiration date, after which they would become invalid. These historically important souvenirs from the interwar periods are an interesting find, representing WWI history and Austria's economic downfall immediately after.

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1920 Micheldorf Upper Austria 20 Heller Notgeld - Monument Note - Austrian Emergency Currency - 1920 Austria Twenty Heller Note