1920 Egelsee, Austria 50 Heller Local Notgeld Hyperinflation Note Grades Select CU. Notgeld is German for ...

1920 Egelsee, Austria 50 Heller Local Notgeld Hyperinflation Note Grades Select CU. Notgeld is German for "emergency/necessity money". Notgeld typically refers to German and Austrian notes produced in the post-WWI period. Somewhat similar to Depression Scrip in the USA, these notes were issued when there wasn'te nough state-produced money available from the central bank. Issuing institutions were often a town's savings banks, municipalities, or private or state-owned firms. Nearly all issues contained an expiry date, after which time they were invalid. Issues without dates ordinarily had an expiry announced in a newspaper or at the place of issuance.