20 Heller Neuhaus

Austrian Notgeld of this type emerged from a genuine collapse of small-denomination coinage during and immediately after the First World War. By 1920, hundreds of Lower Austrian municipalities were issuing their own emergency pfennig notes simply because the central monetary system could not keep pace with demand for small change. Neuhaus im Wienerwald was one of the smaller communities to participate, and its issues are accordingly scarce — low print runs for low-population villages were the rule, not the exception.

Three signatories — Karner, Mayer, and Fürst — suggest this was countersigned by the full sitting municipal committee, as was legally required to give the notes local validity.