10 Pfennig

Auerbach im Vogtland issued this note as part of the Kleingeldersatz wave that swept German municipalities in 1920, when a chronic shortage of low-denomination coinage forced local administrative districts — Bezirksverbände — to paper over the gap themselves. The Reichsbank had neither the metal nor the logistics to keep small change in circulation, and communities across Saxony responded with their own emergency scrip, often in runs so small that survival rates are genuinely low.

At 43 × 32 mm, this is among the smallest paper issues of the period — smaller than most postage stamps of the day, which contributed directly to loss and destruction in circulation.