The Case for Alternate Systems of Money in Today's World

The Case for Alternate Systems of Money in Today’s World

During World War I, there was a general shortage of metals to mint low-value coins for everyday commerce. Austrian and German institutions from banks to municipalities to utility companies started circulating their own form of money without authorization from the central government. These took the form of colorful paper notes for “emergency money” or notgeld that are a valued collectors item to this day.