1 Mark

Warburg's 1921 notgeld issues belong to the second wave of German municipal emergency money — produced not during the acute wartime shortage but during the prolonged post-war coin drought that left small-denomination metal currency virtually absent from everyday commerce. The city of Warburg, a small Westphalian town with a population well under ten thousand, handled its own printing locally, which was common for this period but produced results that vary considerably in paper quality and impression consistency across surviving examples.

Local printing means short runs, limited distribution radius, and rapid attrition through use — factors that combine to make even circulated Warburg pieces harder to source than notgeld from larger municipal issuers.