1,05 Goldmark = ¼ Dollar

Nördlingen's 1923 notgeld issue belongs to the brief window of "wertbeständiges Notgeld" — value-stable emergency money — that German municipalities scrambled to produce once the Reichsmark hyperinflation made conventional paper worthless. The denomination is pegged to the US dollar rather than any German monetary unit, a pragmatic acknowledgment that the Mark itself had ceased to function as a reliable unit of account. At 1.05 Goldmark to the quarter-dollar, the conversion reflects the official Goldmark-to-dollar rate the Reich was attempting to enforce during stabilization.

The Röhm credit likely refers to a local printing house rather than an outside specialist — Nördlingen had its own established printing trade, and much of the city's notgeld was produced without recourse to the major German security printers.