100 Pfennig

Rudolstadt was a small Thuringian residential capital — seat of the Schwarzburg-Rudolstadt principality until its dissolution in 1918 — and by 1921 the city, like hundreds of German municipalities, had no practical choice but to issue its own emergency fractional currency. The Reichsbank simply could not keep small denominations in circulation fast enough to match postwar inflation and hoarding.

Lorsch & Nachbar was a local printing house, not a specialist currency printer. Municipal Notgeld from local commercial printers varies considerably in paper quality and ink consistency, and this series is no exception.