20 Mark

Aschaffenburg's municipal notgeld was issued during the acute small-change famine that gripped German towns from 1918 onward, when Reichsbank notes were being hoarded and coin metal had long since been redirected to the war effort. City magistrates across Bavaria became de facto currency issuers almost by necessity — authorization from Berlin was nominal at best.

The DeNG 3#022.03 reference places this within a documented series, but the 20 Mark denomination sits at the upper end of municipal emergency issues, where questions of redemption backing were rarely answered satisfactorily. Most Stadtmagistrat issues of this class were withdrawn — or simply abandoned — during the hyperinflationary collapse of 1923.