10 Pfennig

Neuwied's 1921 Kleingeldersatz note was a product of the acute small-change famine that gripped Germany as postwar inflation accelerated and metal coins disappeared from circulation almost entirely. Municipalities across the Rhineland printed their own fractional emergency paper rather than wait for a central supply that wasn't coming. M. Dumont Schauberg, the Cologne press better known for newspaper work, handled a considerable volume of this regional Notgeld.

The watermarked paper is worth noting — at the 10 Pfennig level, most issuers skipped security features entirely. Its presence here may reflect a bulk paper purchase rather than any deliberate anti-counterfeiting policy.