1.50 Mark

Hofgeismar is a small Hessian town north of Kassel, and its Kreis-Sparkasse — a district savings bank, not a central or commercial bank — was among hundreds of German municipal and local institutions forced into emergency currency issuance during the hyperinflationary spiral of the early 1920s. The 1.50 Mark denomination is distinctly odd, a product of the practical chaos of Notgeld production rather than any monetary policy logic.

Gebrüder Gotthelft was a well-established Kassel printing house responsible for a substantial volume of regional Notgeld across Hesse-Nassau. The presence of a watermark on a local emergency note of this type is worth noting — many comparable issues from smaller issuers skipped security features entirely.