20 Pfennig

Waldeck-Pyrmont was already a spent political force by the time this note was printed. The Free State of Waldeck had voted for annexation into Prussia in 1921 — the referendum passed in May of that year — making this Kreis des Eisenberg issue one of the very last pieces of local emergency currency produced under a jurisdiction that was in the process of ceasing to exist. The timing is genuinely peculiar.

Eisenberg itself was a small administrative district within a principality that had never been economically self-sufficient, and the Notgeld wave of 1921 hit it like everywhere else in provincial Germany: coins had vanished from circulation and municipalities issued what they could. The annexation was formalized on October 1, 1922.