Posted 4 years ago
- Austria - (20 Heller) Emergency Note - "Notgeld" - Issued May 14, 1920
- valid to Dec. 31, 1920 for the community of Bodlamarst, Austria
- Obverse - Denomination / Scene of Bodlamarst
- Reverse - Description / small - measures 3" X 2 1/8"
- Color - Red ink on manila color paper - No serial number
- Condition - CU (Crisp-Uncirculated)
** Notgeld (German for "emergency money") is the name of money issued by an institution not authorized for money emission. This occurs usually when money is not available from the central bank. The best known emergency money emissions occurred in Germany and Austria around the end of the First World War, which is why the German term is used. Issuing institutions could be town savings banks, municipalities, private and state-owned firms. It was therefore not legal tender, but rather a mutually-accepted means of payment in a particular locale or site.