1 Pfennig Klostergutsverwaltung Ettal

Ettal Abbey's estate administration — the Klostergutsverwaltung — issued this 1 Pfennig note in 1920 as part of the widespread German notgeld phenomenon, when municipal and institutional issuers flooded the country with small-denomination emergency scrip to compensate for the near-total disappearance of coin from circulation. The signatory, P. Robert M. Reichel O.S.B., was a Benedictine monk, making this one of the relatively uncommon examples of a monastic institution acting as a local currency authority.

Ettal's community had managed its own agricultural estates for centuries, giving it the administrative infrastructure to back such scrip with practical credibility in the immediate local economy.