Austria re-introduced the Schilling Currency on 12.12.1945. The lower German denominations of 1,2,5 Mark remained in circulation until 3.3.1946. The German Coins remained in circulation. The Pfennig Valuation was changed to Groschen. This ruling gave the coins a higher purchasing power than in Germany so that the coins were hoarded and smuggled to Austria.

The resulting shortage of small value coins in Germany necessitated the issuance of some Municipal and Private Issue notes of the 1947/1948 Period. These notes were not well documented and are more difficult to locate than Notgeld of other periods.