10 Pfennig Dippoldiswalde

Dippoldiswalde is a small Saxon mining town in the Erzgebirge foothills, and this 10 Pfennig Stadtrat note is a product of the acute small-change shortage that gripped Germany during the First World War. From 1916 onward, hoarding of metal coins — driven by commodity speculation and raw material demands on the war economy — forced hundreds of German municipalities to print their own emergency paper fractionals, collectively known as Kleingeldscheine or Notgeld.

Local printing in a town of this size almost certainly meant a jobbing press rather than a specialist security printer, which accounts for the variable print quality seen across surviving examples of comparable Saxon municipal issues.