2 Mark

Bad Neuenahr was a spa town in the Rhineland whose municipal and resort authorities — like hundreds of German localities — issued their own emergency paper during the hyperinflationary chaos of the early 1920s. The issuer here, the Kurdirektion, was the administrative body overseeing the thermal baths and resort operations, not a bank or municipal treasury. That a spa directorate was printing circulating currency says everything necessary about the breakdown of the Reichsbank's distribution capacity in 1922.

The DeNG reference places this among six known variants in the series, distinguished by minor typographic or stamp differences. Watermarked paper was a deliberate nod toward legitimacy — most Kurort notgeld of this period used plain stock.