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| 正面描述 | The obverse is printed in dark brown on a warm ochre-toned paper with a fine guilloche underprint ground. An ornate letterpress border with a repeating dot-and-scroll motif frames the entire face. The denomination 'Zwanzig Goldpfennig' is set in large Gothic blackletter type at the centre, above a dense block of redemption text in smaller Fraktur script, dated Stuttgart, den 23. November 1923, followed by four manuscript signature panels for the Handelskammer Stuttgart and Württembergischer Städtetag, and two further signatures for the redeeming institution, Württembergische Girozentrale Stuttgart. A notice at the foot of the note reads 'Ausgegeben mit Genehmigung des Reichsministers der Finanzen'. |
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| 正面铭文 | 登录 以查看详情 |
| 背面描述 | The reverse is unprinted, presenting a plain expanse of aged ochre paper with a faint guilloche pattern visible as a ghost impression from the obverse printing. No text, vignette, or additional design elements are present. |
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Württemberg's "wertbeständiges Notgeld" — value-stable emergency money — was the regional answer to the hyperinflation crisis of late 1923, when the Reichsmark had become functionally worthless. Rather than denominating in inflating marks, these notes were anchored to the Goldpfennig, a unit tied to gold value, making them a de facto parallel currency for everyday commerce while the national monetary system collapsed around them.
The Württembergische Girozentrale, Stuttgart's central giro institution, issued this through established banking infrastructure rather than ad hoc municipal channels — a distinction that gave it broader acceptance than most Notgeld of the period. The print run of over twelve million pieces reflects genuine mass circulation, not a collector-targeted novelty issue.
Rentenmark stabilization in November 1923 made the entire wertbeständiges system redundant almost immediately after deployment.