20 Pfennig

Caub — the small Rhine town known primarily for the Pfalzgrafenstein toll castle mid-river — issued this note during the acute small-change famine that paralyzed German retail commerce in 1920. Bundesbank-level coin shortages forced hundreds of municipal and commercial bodies to print their own Kleingeldersatz, and Caub was among the more geographically obscure issuers to do so. Gebrüder Parcus of Munich was one of the dominant Notgeld printers of the period, handling commissions from municipalities across Bavaria and beyond, which accounts for the professional finish on issues from even the smallest towns.