10 Pfennig

Halle's 1921 Notgeld program was among the more prolific municipal issues during the postwar small-change crisis — chronic coin shortages after 1918 forced hundreds of German cities to print their own emergency paper, and the Magistrat here was no exception. Square-format issues like this one were a deliberate visual break from Reichsbank orthodoxy, a minor assertion of local identity that the inflationary chaos of the early Weimar years made briefly possible.

The 59 × 59 mm format also reduced paper consumption marginally, a practical consideration when stock was tight and the presses were running constantly.