60 Heller Unterwolfern

Unterwolfern is a small municipality in Upper Austria, and this 60 Heller note is a product of the Notgeld crisis that followed Austria's defeat in the First World War — a period when coin shortages became so severe that thousands of Austrian towns and villages printed their own emergency scrip. The municipality rather than any banking authority issued and guaranteed it, with Bürgermeister Johann Zwicklhuber's signature carrying whatever local credibility backed the note.

Upper Austrian Notgeld of this type was rarely redeemed in full. Many municipalities quietly let the obligation lapse as the postwar inflation overtook the face values entirely.