10 Pfennig

Ludwigslust notgeld of this period was issued by the town council — "Rat der Stadt" — rather than a savings bank or chamber of commerce, which was the more common issuing body for small-denomination emergency money in 1922. By that point, Germany's hyperinflation spiral was accelerating fast enough that municipal administrations were printing their own fractional currency simply to make change, since coins had effectively vanished from circulation due to hoarding and metal values overtaking face values.

Ludwigslust itself was a former ducal residence town in Mecklenburg, and local notgeld from smaller administrative centers like this tends to survive in higher quantities than it circulated — collectors were already absorbing issues directly from issuers during the notgeld boom years.