1/2 Mark

The Polska Krajowa Kasa Pożyczkowa was a wartime financial institution established under German occupation in 1916, nominally Polish but ultimately serving German fiscal policy. By 1920, however, it was operating under the restored Polish state, issuing low-denomination notes into an economy battered by years of occupation, the Polish-Soviet War, and rampant inflation. This ½ Mark belongs to that transitional period — the institution itself would be dissolved in 1924 when the złoty replaced the marka as part of the Grabski monetary reform.

The marka's rapid devaluation means surviving examples typically show heavy circulation wear.