20 Mark Treptow; Actien-Gesellschaft für Anilin-Fabrikation

AGFA — then still primarily a chemical and photographic supplies manufacturer — issued this note as Notgeld during the acute small-change shortage that followed the First World War. The Berlin-Treptow plant had operated continuously through the war years producing photographic chemicals and munitions-related dyes, leaving the company with the administrative infrastructure and workforce to justify private emergency currency. Two printers were involved: J. König & Ebhardt in Hannover handled one print run, Reuter & Steckerl in Berlin the other — a split production arrangement that occasionally produces minor typographic differences between surviving examples.

The watermarked paper distinguishes this issue from the cheaper Notgeld flooding the market in the same period.