10 Mark

Wittenberg's municipal notgeld emerged from the hyperinflationary spiral that forced hundreds of German towns to print their own emergency money between 1918 and 1923, when Reichsbank notes lost value faster than they could be distributed. The Magistrat issues of 1922 sit in the later, more desperate phase of that period — inflation was already destroying purchasing power month to month, which made a 10 Mark denomination meaningful for only a matter of weeks after issuance.

The watermarked paper suggests procurement from a commercial security printer rather than a simple municipal print shop, a detail worth noting given how many contemporaneous Kleingeldscheine were produced on entirely unsecured stock.