1 Mark

Querfurt is a small town in Saxony-Anhalt, and this note belongs to the enormous wave of German municipal Notgeld that flooded circulation between 1919 and 1922 — not from genuine emergency, but largely because local authorities realized collectors would hoard the notes and the issuing town would pocket the face value as pure profit. By 1921 the phenomenon had become openly commercial.

J.A. Schwarz of Lindenberg im Allgäu was one of the specialist printers who built their business almost entirely on this trade, producing Notgeld runs for dozens of municipalities simultaneously.