20 Pfennig

Blankenese was still an independent municipality in 1921, not yet absorbed into Hamburg — that annexation came in 1927. The note predates the hyperinflation spiral that would overwhelm German municipal finances the following year, placing it in the transitional phase when Kleingeldscheine were being issued to address the chronic shortage of small coin, not yet as emergency inflation relief. Drahm's signature identifies a local treasury official rather than a banking authority.

The .2 suffix in the reference suggests a variant within the series — likely a difference in serial numbering or overprint rather than a distinct printing run.