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100 Pfennig

Issuer Magistrat der Stadt Zerbst
Year 1921
Type Local banknote
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Obverse description The obverse is divided into three vertical panels with a green foliage underprint on a cream ground, framed by a thin red border. The central panel bears the town coat of arms of Zerbst — a red fortified gateway with five towers over a gateway arch, flanked by the Saxon and Anhalt escutcheons — set within a wreath, above the Gutschein legend and a bold serial number on a ruled band. The left panel carries a vignette of a standing armoured knight in a rounded arcade, with the denomination '100 Pfg' in red at upper left, and a validity notice in Gothic script at lower left; the right panel mirrors the composition with a female figure in a similar arcade and the denomination repeated, dated 'Zerbst den 1. Juli 1921' with the facsimile signature of Der Magistrat at lower right.
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Reverse lettering 100 Pfg
Zerbst in Anhalt
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Comments

Zerbst's municipal authority issued this Notgeld note during the inflationary spiral of 1921, when German towns of every size were forced to print their own emergency small change to compensate for the chronic shortage of state-issued coin. Louis Koch in Halberstadt was a regional jobbing printer who handled a significant volume of municipal Notgeld commissions across Saxony-Anhalt during this period — workmanlike output, not prestige printing.

The 100 Pfennig denomination sits at an interesting threshold: by late 1921, inflation was already eroding its purchasing power fast enough that many such notes were redeemed or withdrawn within weeks of issue.

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