10 Pfennig

Graal was a small Baltic coastal resort in Mecklenburg, and like hundreds of German municipalities in 1922, its Badeverwaltung — the spa and bathing administration — issued its own emergency small change notes when coin shortages made everyday transactions impossible. The hyperinflationary spiral that year had driven metal coinage out of circulation almost entirely, leaving local authorities, businesses, and associations to fill the gap with Notgeld printed in quantities that were often more ambitious than the local economy could absorb.

Graal later merged with the neighboring resort of Müritz in 1938 to form Graal-Müritz. Notes from the original Badeverwaltung issue are relatively scarce simply because the issuing body was small and the print runs reflected that.